Closed

$1,800,000

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1145 Fairwood Drive

Elgin, Illinois 60123

Closed / MLS #11843123 / Multiple Family / Elgin

Listing information updated 12/29/2023 at 4:03pm

Rarely Available 21 Unit Building Near I-90 & Metra Station. Units: 1 studio, 9 one bedroom, 11 two bedroom units. Building offers 40 parking spaces & 4 garage spaces. Improvements since 2016 include Galvanized Steel Railings & Beams, Boiler, Roof, 4 Washers & Dryers, Mailboxes, Bathroom Windows. This is a terrific opportunity to add value by increasing the below market rents up to current market levels. At avera market rents, the pro forma net operating income on this building uields a 6.6 cap rate at this price.

Full Features

Exterior Type:

Brick

Water Front:

Square Feet:

N/A

Acreage:

0.4

Built:

1974

Stories:

Zoning:

MULTI

Unit 1:

2 room(s) / 0 bed(s) / 0 bath(s)

Unit 2:

3 room(s) / 1 bed(s) / 0 bath(s)

Unit 3:

4 room(s) / 2 bed(s) / 0 bath(s)

Taxes & Assessments

Tax Amount:

$42,913

Tax Year:

2022

Location

Zip Code:

60123

City:

Elgin

County:

Kane

Listing Office: Keller Williams Success Realty

Listing Office Phone: 815.444.6790

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/29/2023 at 4:03pm. 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.

Elgin, IL

The City of Elgin has been on a roll since it was founded in 1836. Attracting city dwellers and suburbanites, the bustling city is home to over 100,000 people and is one of the largest and fastest-growing cities in the state. A picturesque 1920s millworks building houses the State Street Market with...

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$338,330

Average Sale Price

Average Days On The Market

100%

Sales Prices VS. List Price

Data represents the community area’s average over the past 12 months. All information deemed reliable, but not guaranteed.

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1145 Fairwood Drive is a multiple family which sold for $1,800,000. This multiple family has been listed on @properties since July 26th, 2023 and was built in 1974.