809 South Street
Property Description
Excellent opportunity to acquire a fully occupied 8-unit multi-family investment property in the heart of Elgin! This income-producing building offers a compelling combination of current occupancy, recent capital improvements, and future value-add potential. Six of the eight units have been updated since September 2023, while Units #2 and #4 remain available for future improvements and potential rent enhancement. Major recent upgrades include a tear-off roof completed in 2024 and a water heater installed in 2022. The building is heated by a boiler, and each unit has its own window A/C unit. All 8 units are currently rented, allowing an investor to step into an established property with rental income already in place. Ideally located near restaurants, convenience stores, business offices, and established single-family neighborhoods, the property offers strong accessibility and a desirable central Elgin location. Whether you are looking to expand an existing portfolio or acquire a multi-unit property with additional upside, this 8-unit building presents an rare investment opportunity. Property is being sold AS-IS.Broker Details
HomeSmart Connect Real Estate (847) 495-5000
MLS ID: 45824 State License Number: 475191288
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $749,000 |
| No. of Units: | 8 |
| Year Built: | 1956 |
| Opportunity Zone: | No |
| Price per unit: | $93,625 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 8 |
ID: 3yd-MREDIL-12741183
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