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Waterfront Short-Term Rental Compound

27717 W Grass Lake Drive, Spring Grove, IL 60081

For Sale
$749,900

Residential Income, Spring Grove, IL

Property SizeContact for details
Lot Size1.13 Acres
Days on Market146

Property Features for 27717 W Grass Lake Drive

General Information

Property type Residential Multi Family
Property subtype Other
Bedrooms 4
Bathrooms 4
Full bathrooms 4
Rooms Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 2
Parking 12
Patio and Porch features Deck, Patio
Exterior features Boat Slip, Fire Pit
Lot features Wooded, Rear of Lot
View Water
Elementary school Lotus
High school Grant Community High School
Elementary school district 114
Middle school district 114
High school district 124
Directions Grass Lake Road, turn north onto Lakeshore Dr. When you pass Riva Bay condos, name of road changes to W Grass Lake Drive. Road will turn to the left but don't turn, instead go straight onto driveway of property.
Subdivision Spring Grove
Standard status Active
APN 01273000240000
Lot size 1.13 Acres

Additional Details

Currently Operating Yes

Taxes and HOA fees

Tax Year 2024
Tax Annual Amount 12918

Utilities

Utilities Cable Available
Sewer type Septic Tank
Heating system Natural Gas
Water source Well
Water front features Lake Front, Beach Access
Water front 1

Amenities

private pier
gazebo
firepit patio
RV/boat storage
canoe/kayak access
private walk-in sand beach

Building Details

Year built 1961
Building materials Aluminum Siding
Additional Structures Cabana
Listing Agency: RE/MAX Suburban · RE/MAX International
Listed By: Jason Bitton · License IL #475170841
Added: Jun 22 Changed: Oct 24 Last Checked: Nov 14 at 12:06AM
MLS# 12685454

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.

Rey
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Investment Insights

Based on property information with market context.

This waterfront property includes three fully furnished short-term-rental units on approximately 1.13 acres along Grass Lake. The improvements provide four full bathrooms, a bonus room, and sleeping capacity for up to 12 people. Outdoor amenities include roughly 131 linear feet of private walk-in sand beach, a private pier, gazebo, firepit patio, deck, and space for RV or boat storage. Canoe and kayak access is also available.

Located in Spring Grove near Blarney Island and Chain O’Lakes State Park, the property is approximately 50–60 miles northwest of Chicago. The site is served by a well and septic system, with cable available. Additional property features include lake frontage, beach access, natural gas heating, and aluminum siding. A former fourth-cottage site is identified in the property information as legal and conforming, with rebuild potential subject to verification.

Key Highlights

  • Three fully furnished short‑term‑rental units with sleeping capacity for up to 12
  • Approximately 1.13 acres with about 131' of private walk‑in sand beach
  • Private pier, gazebo, firepit patio, deck, and RV/boat storage

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Suggested Use

Top Pick Restaurant Building Supply HVAC Service Furniture & Home Goods Storage Facility Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3
Residential units

Location Intelligence

Trade Area within ½ mile

41
Businesses Nearby

Demographics for 60081, IL

9,396
Population
3,436
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
94%
High-School Grad
19.7 sq mi
ZIP Area
477
Density / Sq Mi
$116,278
Median Household Income
$52,404
Median Earnings
$1,204
Median Rent
$332,800
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Short term rental property - Three furnished units support short-term rental operations, personal use, or a combined ownership arrangement.
Where is this short term rental property located?
The property is located at 27717 W Grass Lake Drive Spring Grove, IL.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Three fully furnished short‑term‑rental units with sleeping capacity for up to 12; Approximately 1.13 acres with about 131' of private walk‑in sand beach; Private pier, gazebo, firepit patio, deck, and RV/boat storage
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