Residential Income
For Sale
$175,000
71 Mariner Lane Unit 71, Fox Lake, IL 60020
The ground-level residence has two bedrooms, one-and-a-half baths, and a walk-in closet in the primary bedroom.
Property Size1,040 SF
Price / SF$168.27
Days on Market131
Property Features for 71 Mariner Lane Unit 71
General Information
Standard status
Active
Size
1,040 SF
Property subtype
Condo,Ground Level Ranch
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,623
Amenities
outdoor pool
clubhouse
party room
park
Building Details
Building Size
1,040 SF
Year Built
1974
Construction
ranch-style
Listing Agency:
Lakes Realty Group
(224) 426-7323
Listed By:
Stephanie Liscomb · License #475195347
(847) 338-3848
Source:
Payesregroup
Added: Jun 24
Changed: Oct 30
Last Checked: Oct 30 at 2:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lakes Realty Group
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Investment Insights
Based on property information with market context.
This 1,040-square-foot, ground-level condominium was built in 1974 and has two bedrooms and one-and-a-half bathrooms. The primary bedroom includes a walk-in closet. Recent improvements include a furnace installed in 2023, a dishwasher replaced in 2024, and toilets installed in 2026.
Residents have access to a community outdoor pool, clubhouse, party room, and park. Boat slips are available to rent. The property is in Fox Lake, Illinois.
Residents have access to a community outdoor pool, clubhouse, party room, and park. Boat slips are available to rent. The property is in Fox Lake, Illinois.
Key Highlights
- 1,040‑square‑foot ground‑level condominium
- Two bedrooms and one‑and‑a‑half bathrooms
- Primary bedroom has a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,836
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,720
$256.7K
Cap Rate 7%
$183,371
$183.4K
Cap Rate 9%
$142,622
$142.6K
Market Conditions
NOI Build-Up for 1,040 SF
Gross rent
$25.0K $24.00/SF
− Vacancy
−$1.6K −$1.56/SF
EGI
$23.3K $22.44/SF
− OpEx
−$10.5K −$10.10/SF
NOI
$12.8K $12.34/SF
Area
Lake County, IL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,720
Cap Rate 7%
$183,371
Cap Rate 9%
$142,622
Alternative Uses
Best Use
Apartment 5plus
$183.4K
$160.5K – $213.9K
NOI $12,836 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.1K
$314.2K – $418.9K
NOI $25,135 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
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Business Placement
Demographics for 60020, IL
10,967
Population
5,523
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
2,333
Density / Sq Mi
$71,028
Median Household Income
$44,732
Median Earnings
$1,228
Median Rent
$215,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The ground-level residence has two bedrooms, one-and-a-half baths, and a walk-in closet in the primary bedroom.
Where is this residential income property located?
The property is located at 71 Mariner Lane Unit 71 Fox Lake, IL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,040‑square‑foot ground‑level condominium; Two bedrooms and one‑and‑a‑half bathrooms; Primary bedroom has a walk‑in closet
