26198 W Spring Grove Road
Property Description
This exceptional 8-unit multifamily property on Channel Lake offers stable in-place income, proven occupancy, and significant embedded upside through below-market rents and irreplaceable direct lakefront frontage. Situated on a quiet street with 140 feet of Lake Catherine shoreline, the asset provides long-term tenancy, conservative rent growth potential, and an attractive basis relative to both current cash flow and the underlying waterfront land value. The property features a thoughtfully configured mix of units: 2 Three-Bedroom units, 2 Two-Bedroom units, 4 One-Bedroom units, including a charming standalone brick cottage A spacious backyard with mature trees creates a serene, picturesque setting for residents to enjoy. Tenant-Paid Utilities, all tenants are responsible for their own electric. Tenants contribute a set amount toward heat from November through April (the standalone brick cottage is responsible for both heat and electric). This rare lakefront multifamily asset combines reliable cash flow, strong tenant retention, and substantial future appreciation potential in one of Antioch's most desirable waterfront locations. Whether for an investor seeking portfolio stability or growth, this property represents a compelling opportunity in the Chicago-area market. Ideal for serious investors, contact us today for complete financials, rent roll, and a private showing.Broker Details
eXp Realty, LLC (888) 574-9405
MLS ID: 895103 State License Number: 475188240
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $865,000 |
| No. of Units: | 8 |
| Year Built: | 1930 |
| Opportunity Zone: | No |
| Price per unit: | $108,125 |
| Property Website | Click Here |
| Number of Bedrooms: | 14 |
| Number of Bathrooms: | 8 |
ID: 3yd-MREDIL-12711070
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