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    50 N Lake Avenue Fox Lake, IL 60020

    View on Map
    For Sale
    $549,873

    MULTI_FAMILY - Cottage - Fox Lake, IL

    Lot size:
    0.24 Acres
    Added:
    Jul 30, 2025
    Days on Market:
    246
    Last Refresh:
    Apr 1 at 10:06 am

    Property Features for 50 N Lake Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MULTI
    Bedrooms
    7
    Bathrooms
    12
    Rooms
    Bathroom 6, Bedroom 2, Bedroom 7, Bathroom 12, Bathroom 2, Bathroom 7, Bathroom 5, Bathroom 11, Bathroom 9, Bathroom 10, Bedroom 5, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 6, Bathroom 8, Bathroom 1, Bedroom 4, Bedroom 3
    Parking
    4
    Parking features
    Owned, Off Street
    Patio and Porch features
    Porch, Deck
    Exterior features
    Dock
    Standard status
    Active
    APN
    05102060100000
    Lot size
    0.24 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxAnnualAmount
    13294

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public
    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1943
    Building materials
    Aluminum Siding, Vinyl Siding, Steel Siding
    Roof type
    Asphalt
    Architectural style
    Cottage
    Additional Structures
    Residence

    We can help!

    Listing Contact
    Thomas Domasik
    Thomas Domasik

    Listing agent Thomas Domasik License #475129362

    Listing office RE/MAX 10 in the Park 9658 W 131st Street., Oak Lawn, IL

    Listing date Jul 30, 2025

    MLS# 12429978 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Fox Lake Waterfront Multi-Unit Property

    This multi-unit property offers a rare opportunity to own 40 feet of prime lake frontage on Mineola Bay in Fox Lake. The property includes four separate cabins. Three cabins are currently leased, and one is vacant and ready for immediate occupancy. This property is suitable for rental income or a lakeside family compound. Boaters will appreciate the convenience of docking. Recent updates include full renovations of two front units in 2021 and 2022, plus updates to a third unit in 2014. The lot size is 0.24 acres. The zoning is MULTI. This residential income property is located in Fox Lake, Illinois.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Fox Lake
    County
    Lake
    State
    Illinois
    Longitude
    -88.1755
    Latitude
    42.3951

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    FAQs

    What type of property is this?
    Quadplex - Multi-unit property with 40 feet of lake frontage.
    Where is this quadplex located?
    The property is located at 50 N Lake Avenue Fox Lake, IL.
    What is the asking price?
    The asking price for this property is $549,873.
    What are key features of this property?
    This property features: 40 feet of prime lake frontage on Mineola Bay (Fox Lake).; Multi‑unit property with four separate cabins.; Rental income potential from three leased units.
    (708) 857-1500
    We can help!
    Listing Contact
    Thomas Domasik
    Thomas Domasik
    Real Estate License ID: 475129362
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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