515 8th Street, Waukegan, IL 60085
- 3,780 sqft
Commercial Property
Built in 1907
7,405sqft lot
—— car garage
$136/sqft
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
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
Location
Schools Nearby
Carman-Buckner Elementary School
520 Helmholz Ave, Waukegan, IL, 60085
Grades PK-5
0.25 miles away
Thomas Jefferson Middle School
600 S Lewis Ave, Waukegan, IL, 60085
Grades 6-8
1.01 miles away
Waukegan High School
2325 Brookside Ave, Waukegan, IL, 60085
Grades 9-12
1.86 miles away