$512,500

515 8th Street, Waukegan, IL 60085

  • 3,780 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1907
  • Property Lot Size Icon7,405sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $136/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Solid 6-Unit Investment Opportunity - Fully Occupied-Sold As-Is Welcome to 515 8th St, a fully occupied, income-producing 6-unit property in Waukegan offering immediate cash flow with upside potential. The building consists of 2 one-bedroom units, 2 two-bedroom units, and 2 studio apartments. Three of the six units have been recently updated, and all apartments are individually metered for electric. Most tenants are month-to-month, providing flexibility for future rent increases or repositioning. Major capital improvements include newly installed windows throughout the entire building (2024) and a seal-coated, striped rear parking lot with ample off-street parking. Rents are solid and stable, with room for increases to align with market rates. This is a turn-key asset with long-term growth potential for an investor looking to step into a stabilized building with upside. Please note: Seller open to creative financing options. Contact listing agent for terms.

Listing Status:
Active
Listing Office:
Illinois Real Estate Partners Inc : 630-560-1001
Listing Agent:
Hanon Hines : 224-287-6723
MLS ID:
12427007
  • Basement: Unfinished

This listing courtesy of Hanon Hines, Illinois Real Estate Partners Inc

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

C

Carman-Buckner Elementary School

520 Helmholz Ave, Waukegan, IL, 60085

Grades PK-5

0.25 miles away

T

Thomas Jefferson Middle School

600 S Lewis Ave, Waukegan, IL, 60085

Grades 6-8

1.01 miles away

W

Waukegan High School

2325 Brookside Ave, Waukegan, IL, 60085

Grades 9-12

1.86 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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