220 Dexter Avenue Elgin, IL 60120
Now here is a solid investment property located in the heart of Downtown Elgin with a few key points that stand out: Desirable Location: Being in the heart of downtown Elgin makes it an attractive spot for renters due to proximity to amenities, transportation, and possibly employment opportunities. Stable Tenancy: Having long-term renters in 2 of the 3 units who wish to stay is a big plus. It suggests less turnover and potentially lower vacancy rates, both of which are good for steady income. Income Potential: The possibility of renovating the 4th unit in the basement is intriguing and would significantly increase the property's income potential. Recent Improvements: new roof, gutters, chimney rebuild, sewer line, and water heaters, add to the property's value. They reduce the likelihood of major repairs in the near future and can be appealing to both tenants and potential buyers. Upcoming City Infrastructure Improvements: The city's plan to replace lead pipes is beneficial for the property in the long run, ensuring better water quality for tenants and potentially increasing property desirability. Do not pass up a fantastic opportunity to expand your investment portfolio!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyKane
- Taxes$5,967
- HOA/Condo/Coop Fees$0
- Days on Site79 Days
- MLS StatusActive Under Contract
- MLS ID Number12015645
- Home Size Source N/A
- Year Built1880
- Lot Size0.14 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 2
- Sewer Public Sewer
- Basement FullWalkout
- Acreage 0.14
- Property Sub Type Multi Family
- Garage Spaces 2
- Zoning MULTI
- General Information Commuter Bus
- Garage Detached
- Rooms Total 11
- Lot Size Less Than .25 Acre
- Water Lake Michigan
- Parking Total 2
Interior Features
- Heating Radiant
Exterior Features
- Roof Asphalt
- Waterfront Property No
Community Features
- Township Elgin
- Community Features SidewalksStreet LightsStreet Paved
- MLS Area Elgin