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572 Walnut AVE Elgin, IL 60123
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Key Details
Sold Price $327,500
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12378503
Sold Date 07/18/25
Bedrooms 3
Year Built 1863
Annual Tax Amount $7,343
Tax Year 2024
Lot Dimensions 50X157
Property Sub-Type Two to Four Units
Property Description
Well-maintained 3-unit investment property with stable rental income and long-term tenants. Main unit features 1 bed, 1 bath, and an additional room ideal for an office. Recently repainted with new carpeting. Tenant has access to storage in both the basement and back area. Basement includes shared laundry (for Unit 1), was sealed less than a year ago, and has a new water heater (2024). Radiant heat in Units 1 & 2; Unit 3 has central heat/AC. Unit 2 is a freshly updated upstairs studio with new flooring in the kitchen and bath, leased through April 2026. Unit 3 is a 1 bed, 1 bath with a long-term tenant (over 20 years) who assists with exterior upkeep. Lease runs through July 2026. Bonus income from an additional garage space currently rented as storage on a month-to-month basis at $125/month. Separate storage spaces available for each unit. Excellent location for an investment property as it's just minutes from downtown Elgin, RT20, I90, and multiple Metra stops. Great rental history and solid cash flow make this an ideal addition to any investment portfolio.
Location
State IL
County Kane
Area Elgin
Zoning OTHER
Rooms
Basement Unfinished, Full
Interior
Heating Natural Gas, Forced Air, Steam, Radiant, Sep Heating Systems - 2+
Equipment CO Detectors, Ceiling Fan(s), Sump Pump
Fireplace N
Exterior
Community Features Curbs, Sidewalks, Street Lights, Street Paved
Roof Type Asphalt
Building
Lot Description None
Building Description Vinyl Siding, No
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction false
Schools
Elementary Schools Washington Elementary School
Middle Schools Abbott Middle School
High Schools Larkin High School
School District 46 , 46, 46
Others
Ownership Fee Simple
Special Listing Condition None
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Brian Hochstetter • eXp Realty - Chicago North Ave
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