Sold: Aug 25, 2025
Address
398 E Chicago Street, Elgin, IL
Price
$ 650,000
Property Attributes
  • MLS#12392663
  • TypeMulti-Family
  • Listing Status Closed
  • CountyKANE
  • CityElgin
  • AreaElgin
  • Zip60120
  • StyleMulti-Family
  • Year Built1910
  • Taxes$ 9467
  • Price$ 650,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4238
Data Source:
Midwest Real Estate Data (MRED)
Property Description

This 5 unit building has been updated, has excellent rental income and is ready for new ownership. Four 2 bedroom, 2 bath units, and one studio, plus coin laundry and storage. Two units have been updated with forced air, the rest of the building is boiler heat. Tenants pay electric. Appliances have been updated in 4 of the units, as well as a new concrete driveway. Original charm throughout. One is vacant to show. Sold with 16 N Gifford as it currently shares a driveway. Selling as-is.

Price History

General Features

Cooling Central Air,Window Unit(s)
Year Built 1910
Additional Parcels Y/N No
Tenant Pays Electricity
Net Operating Income 78540
Township Elgin
Cap Rate 8.26
County Kane
Gross Income 98540
Property Type Commercial Sale
Stories Count 2
Operating Expense 20000
ModificationTimestamp 2025-08-26T18:15:01.795Z
Standard Status Closed
City Elgin
Status Closed
Close Price 650000
Tax Annual Amount 9467.36
Zoning MULTI
Tax Year 2024
Construction Materials Brick
Property Type Multi Family 5+
Directions East Side of town on Chicago.
Number Of Units Total 5
MLS Area Elgin
Current Use Multi-Family

Interior Features

BuyerOfficeEmail rubi.realestatebroker@gmail.com
Basement Finished

Exterior Features

Street Suffix Street
Street Name Chicago
Lot Dimensions 131 X 53
Building Area Total 4238
Days on Market 37

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60120

Price
AVG $390K
$650K
Taxes
AVG $6,482
$9,467
Year Built
AVG 1895
1910

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