GREAT INVESTMENT OPPORTUNITY OF 4K/MONTH. Historic 4 flat in the heart of downtown Elgin. Units 1 & 4 were rehabbed last year with new appliances, quartz countertops, and flooring. Three tenants are on month-to-month leases waiting for yearly leases of your choice to be put in place. Unit 4 with a lease ending in May 2022. Owner pays for water (200-250$/month) and heat (5 months out of the year) The property is professionally managed with the opportunity to continue under current local management. Walking distance to downtown Elgin with metra transportation into Union Station, shopping, and entertainment. A hidden gem for investors seeking property in a fast growing area with a rising rental market , 40 miles west of Chicago.
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Property Details
Utilities
Heating Natural Gas
Cooling
Water Public
Sewer Public Sewer
Additional Information
Exterior Features
Porch
Parking
7 Parking Spaces, Unassigned, Off Street, Owned, Parking included in price
Schools
Larkin High School (46), Kimball Middle School (46), Highland Elementary School (46)
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Listing History
12-22-2021
Listed at $297,000
01-02-2022
Status changed to Under Contract
02-14-2022
Status changed to Closed
02-11-2022
Sold at $302,000
Last Modified 2/14/22 12:42 PM
Nearby Transportation
Milwaukee West
0.3 mi
Hwy 20 West
1.1 mi
Hwy 20 East
1.1 mi
I 90 East
1.9 mi
I 90 West
2.2 mi
For More Information
(312) 528-9200
For more information about 501 W Highland, Elgin, IL 60123 contact Corcoran Urban Real Estate.
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