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262-64 Spring Street, Elgin, IL 60120

Beds
11
Baths
4

View property features, location on map, relevant school information and overview from seller's agent.

Listed byHomeSmart Connect
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Overview

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!

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
11
Number of bathrooms
4
Lot size (acres)
0.20
Year built
1920

Interior features

Basement
Yes, Unfinished

Utilities

Heating
Natural gas, Forced air
Sewer
Public sewer
Water
Public

Estimated monthly costs

Insurance
$8,419

Taxes

Tax Annual Amount (2024)
$8,312

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: Midwest Real Estate Data (MRED) MLS®#: 12432935 Last checked:

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.