Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2412 HIGH Street Blue Island, IL 60406

    View on Map
    Claim this Listing
    For Sale
    $200,000

    MULTI_FAMILY - Blue Island, IL

    Lot size:
    0.09 Acres
    Added:
    Jan 8, 2026
    Days on Market:
    111
    Last Refresh:
    Apr 29 at 5:06 am

    Property Features for 2412 HIGH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MULTI
    Rooms
    Basement
    Basement
    Full, Unfinished
    Standard status
    Active
    APN
    24362190220000
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    7397

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Steam
    Water source
    Public

    Building Details

    Year built
    1886
    Building materials
    Brick
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Ellen Williams

    Listing agent Ellen Williams License #471003336

    Listing office Coldwell Banker Real Estate Group 24034 W Lockport St, Joliet, IL

    Listing date Jan 8, 2026

    MLS# 12542738 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

    Blue Island Multifamily Investment Opportunity

    This two-unit multifamily property in Blue Island, Illinois, presents a significant investment opportunity. The building, located in a desirable area close to shopping, a hospital, schools, train, bus lines, and the expressway, is currently gutted and awaiting renovation. Situated on a 0.09-acre lot, the property is located in the Silk Stocking District. The property is zoned MULTI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Blue Island
    County
    Cook
    State
    Illinois
    Longitude
    -87.680712
    Latitude
    41.6582

    Nearby Similar for Sale

    • $425,000

      Blue Island Mixed-Use Investment

      Commercially zoned property with retail space and income-generating apartment.
      12522 Western Avenue, Blue Island, IL 60406
      View Details
    • $150,000

      Commercial Property in Blue Island

      Commercial property for sale in Blue Island, Illinois.
      13016 Western Avenue S, Blue Island, IL 60406
      View Details
    • $529,000

      Blue Island Multifamily Investment Opportunity

      Six-unit building with value-add potential in Blue Island, Illinois.
      12934 Page Court, Blue Island, IL 60406
      View Details
    • $480,000

      Well-Maintained Brick 3-Flat Building

      Income-producing 3-unit building in Blue Island, Illinois.
      2523 Grunewald Street, Blue Island, IL 60406
      View Details
    • $209,900

      Blue Island Multifamily Investment Opportunity

      Multifamily property with income potential near I-57 and I-294.
      1949 BURR OAK Avenue, Blue Island, IL 60406
      View Details
    • $609,900

      Blue Island Multifamily Investment Property

      Six-unit multifamily property with recent upgrades near transportation and shopping.
      12909 Page Street, Blue Island, IL 60406
      View Details
    • $250,000

      Mixed-Use Property in Historic District

      Mixed-use property with office and residential units in Blue Island.
      13315 Olde Western Avenue, Blue Island, IL 60406
      View Details
    • $375,000

      Mixed-Use Building with Extra Lot

      Two-story building with retail, apartment, lot, and income.
      13341 Olde Western Avenue, Blue Island, IL 60406
      View Details
    • Contact for pricing

      Blue Island Commercial Opportunity

      Prime commercial space in Blue Island, ready for your business.
      13426 Olde Western Avenue, Blue Island, IL 60406
      View Details
    • $495,000
      13,135 SF

      Blue Island Industrial Warehouse For Sale

      13,135 SF warehouse with bow truss ceiling and incentives.
      13210 S. Olde Western Avenue, Blue Island, IL 60406
      View Details
    • $545,000

      Blue Island Multifamily Investment Property

      Six-unit multifamily property in a good rental area.
      12456 Fairview Avenue, Blue Island, IL 60406
      View Details
    • $545,000

      Blue Island Multifamily Investment

      Six-unit multifamily property in a good rental area.
      12452 Fairview Avenue, Blue Island, IL 60406
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property in Blue Island, ready for renovation.
    Where is this duplex located?
    The property is located at 2412 HIGH Street Blue Island, IL.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Seller financing available; Excellent location: close to shopping, hospital, schools, train, bus, and expressway; Located in the Silk Stocking District
    (815) 553-2411
    We can help!
    Listing Contact
    Ellen Williams
    Real Estate License ID: 471003336
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!