262-64 Spring Street, Elgin, Illinois 60120
$595,000
|
For Sale
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| Status: | Contingent |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 11 |
| Baths: | 0 |
| Year Built: | 1920 |
| Property Taxes: | $8,312 |
| Days On Market: | 38 |
| Lot Size: | 0,20 |
Description
Excellent Investment Opportunity - Fully Leased 4-Unit Building in Prime Elgin Location! Spacious and well-maintained, this fully occupied multi-unit property is an ideal addition to any investor's portfolio. All four units are currently leased, generating immediate rental income. Three of the units feature updated kitchens and bathrooms, providing modern comfort for tenants. Recent mechanical and structural updates offer peace of mind: TWO NEW FURNACE UNITS installed in October 2024, Two hot water heaters - 40-gallon (installed Dec 2022) & 50-gallon (installed Dec 2011). Building exterior painted, plus new gutters and downspouts (2021) and driveway/parking lot sealed (2025). The property includes two separate basement areas: One basement provides community storage for tenants and houses a coin-operated laundry (1 washer & 1 dryer) and the second basement is secured for landlord use, perfect for storage or a workshop. Ample off-street parking with 11 total spaces, 2 reserved per unit and 3 visitor spots. Conveniently located within walking distance to Gail Borden Library, Hemmens Cultural Center, Elgin Recreation Center, the scenic Fox River, and all the vibrant offerings of Downtown Elgin. Don't miss out on this great investment opportunity!
Property Specifics
| Multi-unit | |
| — | |
| — | |
| 1920 | |
| — | |
| — | |
| No | |
| 0.2 |
| Kane | |
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| — / — | |
| — | |
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| — | |
| 12432935 | |
| 0614238015 |
Nearby Schools
| NAME: | DISTRICT: | DISTANCE: | |
|---|---|---|---|
|
Grade School
Ronald D O'neal Elementary Schoo |
46 | — | |
|
Middle School
Kimball Middle School |
46 | Not in DB | |
|
High School
Larkin High School |
46 | Not in DB | |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 30 Oct, 2008 | Sold | $250,000 | MRED MLS |
| 4 Aug, 2008 | Under contract | $252,000 | MRED MLS |
| — | Last price change | $280,000 | MRED MLS |
| 21 Mar, 2008 | Listed for sale | $280,000 | MRED MLS |
| 11 Aug, 2025 | Under contract | $595,000 | MRED MLS |
| 1 Aug, 2025 | Listed for sale | $595,000 | MRED MLS |
Room Specifics
Total Bedrooms: 11
Bedrooms Above Ground: 11
Bedrooms Below Ground: 0
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Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: —
Other Specifics
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| 132 X 67 | |
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| — | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2008 | $7,918 |
| 2025 | $8,312 |
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Listing Provided By
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