Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    50 N Lk Ave Fox Lake, IL 60020

    Sponsored
    For Sale
    $549,873

    MULTI_FAMILY - Cottage - Fox Lake, IL

    Lot size:
    0.24 Acres
    Days on Market:
    39
    Last Refresh:
    Feb 20 at 12:06 am

    Property Features for 50 N Lk Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    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
    Bedrooms
    7
    Bathrooms
    12
    APN
    05102060100000
    Parking
    4
    Parking features
    Owned, Off Street
    Patio and Porch features
    Porch, Deck
    Exterior features
    Dock
    Lot size
    0.24 Acres

    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

    Remax 10 (708) 857-1500

    Listing agent Thomas Domasik (708) 923-0900

    Listing date Jan 13, 2026

    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.

    Learn more

    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

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fox Lake
    County
    Lake
    State
    Illinois
    Longitude
    -88.16449
    Latitude
    42.397609

    Nearby Similar for Sale

    • $50,000

      Waterfront Lot on Chain O'Lakes

      Waterfront lot with private pier on Chain O'Lakes.
      411 Kings Rd, Fox Lake, IL 60020
      View Details
    • New
      $399,900
      440 SF

      Highway 12 Investment Opportunity

      Four-unit building on Highway 12 in Fox Lake, Illinois.
      21 S Us Highway 12, Fox Lake, IL 60020
      View Details
    • $499,500
      0.21 Acres

      Commercial Building in Fox Lake

      High visibility commercial building with flexible B3 zoning.
      400 Washington St, Fox Lake, IL 60020
      View Details
    • Contact for pricing

      Fox Lake Boat Slips Rental

      Boat slips for rent with access to Chain O Lakes.
      8300 Reva Bay Lane Unit, Fox Lake, IL 60020
      View Details
    • Contact for pricing

      Fox Lake Boat Slips Rental

      Boat slips for rent with access to Chain O Lakes.
      8300 Reva Bay Lane Unit, Fox Lake, IL 60020
      View Details
    • Contact for pricing
      1,444 SF

      Move-In Ready Townhome in Fox Lake

      Well-maintained 2-bedroom, 2-bath ranch-style townhome built in 2018.
      7085 Hidden Green Cir, Fox Lake, IL 60020
      View Details

    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 Lk Ave 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) 923-0900
    Request Owner's contact information
    50 N Lk Ave Fox Lake, IL 60020
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    50 N Lk Ave
    Fox Lake, IL 60020
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    50 N Lk Ave Fox Lake, IL 60020
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Thomas Domasik
    Thomas Domasik
    Real Estate License ID: 475129362
    (708) 923-0900 (708) 359-4092 (708) 671-9876
    Learn more
    Google sign-in failed. Please try again or use another login method.