501 W Highland Avenue

Elgin, IL
$ 329,000 Beds 4 Baths 4
Monthly Estimate* How much can I afford?

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.

Multi-Family

  • Price
  • $ 329,000
  • Lot Size
  • 10,890 SqFt
  • Bedrooms
  • 4
  • Full Bathrooms
  • 4
  • Half Bathrooms
  • 0
  • City, Zip
  • Elgin
  • Taxes
  • $ 5721
  • County
  • KANE
  • Style
  • Farmhouse
  • Area
  • Elgin
  • MLS#
  • 11270496
  • Zip
  • 60123
Listing Provided by: Compass
Data Source: Midwest Real Estate Data (MRED) - 103 - IL

Features

General

Additional Parcels Y/N No
Architectural Style Farmhouse
Basement Full
City Elgin
County Kane
Days on Market 6
Directions State St. ( RT 31) to Highland, West to Building
Elementary School Highland Elementary School
Elementary School District 46
Exterior Features Porch
Grossincome 46800
Heating Natural Gas
High School Larkin High School
High School District 46
MLS Area Elgin
Middle/Junior High School Kimball Middle School
Middle/Junior School District 46
New Construction No
Other Structures None
Ownership Fee Simple
Possession Closing
Property Type Two to Four Units
Property Type Residential Income
Roof Asphalt
Sewer Public Sewer
Standard Status Active
Status Active
Street Name Highland
Tax Annual Amount 5721.74
Tax Year 2020
Total Rooms 11
Township Elgin
Zoning MULTI

Interior Features

Basement Unfinished
Bedrooms Possible 4
Full Baths Building 4
Street Suffix Avenue
Total Baths 4
Total Bedrooms 4

Exterior Features

Exterior Aluminum Siding
Foundation Details Block, Stone
Lot Dimensions 85X120
Lot Features Corner Lot
Lot Size Acres 0.25
Parking Features Unassigned, Off Street
Total Parking 7
Water Source Public
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Naperville, IL office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Highland Elementary School
Middle School Kimball Middle School
High School Larkin High School

Price History

11/15/2021 Listed $329,000

Property vs Zip Code Average in 60123

Price
AVG $640K
$330K
Taxes
AVG $12,710
$5,721
Visits
AVG 24
9
Walkscore
AVG 65
82
Data Provided by Walkscore ® not using MLS data

Map

501 W Highland Avenue Elgin, IL is a Single Family Home for sale at $329000 and a lot size of 10,890 SqFt Acre(s). 501 W Highland Avenue Elgin has 4 bedrooms, 4 baths . The property's zip code is 60123 which is in Elgin, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.