Building Details

Year built 1925

Floors in Building 1

Number of units 2

Listing Agency: Charles Rutenberg Realty of IL l***@crrchicago.com Show Phone

Listed By: Joe Gawley · License #475144756 Show Phone

Added: Jun 4 Changed: Aug 19 Last Checked: Sep 4 at 3:06PM

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MLS# 12669192

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.

Investment Insights

Based on property information with market context.

This mixed-use property combines a leased 2-bedroom, 2-bath home with a separate brick commercial building, all under flexible RB (Residence/Business) zoning. The residential unit is described as well-maintained and updated, and it is currently leased. The commercial building includes a spacious main-level room, a basement that can support storage or expanded functionality, and a convenient half bath. The commercial space is currently vacant, giving an owner-occupant or incoming tenant the ability to tailor the space to their needs.

The property is located in Elgin, Illinois, with the residential address listed as 435 Washington Street. The separate commercial structure is identified at 530 W. Highland Ave. The offering is designed for flexibility by tying the home and business components together within the same ownership structure.

For buyers or owner-users, the RB zoning supports residential use, business use, or a combination of both, which can be helpful for a live-work setup or an operator looking to be close to where they live. If you are planning to occupy the commercial building, the vacant condition can reduce time spent coordinating with an existing tenant. For investors, the current lease in the residential portion provides immediate rental income while the commercial component offers a separate opportunity for customization or new tenancy.

Key Highlights

• Mixed‑use property with residential and commercial components under RB (Residence/Business) zoning for residential, business, or a combination
• Updated 2‑bed, 2‑bath residence leased for $1,900/month, providing immediate rental income
• Separate brick commercial building at 530 W. Highland Ave with a spacious main‑level room and a basement for storage or expansion

Property Analytics

Property Profile

Current Use

Village Investment Club Financial Advisor

Suggested Use

Top Pick Grocery & Convenience Store (Bike/Boat/Book/etc) Store Storage Facility Catering Service Computer & Electronic Repair Bakery

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

Location Intelligence

Trade Area within ½ mile

1,977

Businesses Nearby

Explore this area Business Placement

Demographics for 60123, IL

47,932

Population

18,129

Households

2.6

Avg Household Size

37

Median Age

24%

College-Educated

84%

High-School Grad

14.0 sq mi

ZIP Area

3,424

Density / Sq Mi

$86,762

Median Household Income

$40,288

Median Earnings

$1,226

Median Rent

$242,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Residential income and a separate vacant commercial building offer RB-zoned flexibility for owner-users or investors.

Where is this mixed-use property located?

The property is located at 435 Washington Street Elgin, IL.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: Mixed‑use property with residential and commercial components under RB (Residence/Business) zoning for residential, business, or a combination; Updated 2‑bed, 2‑bath residence leased for $1,900/month, providing immediate rental income; Separate brick commercial building at 530 W. Highland Ave with a spacious main‑level room and a basement for storage or expansion