Side-by-Side Ranch
803 Pine Grove Avenue Gurnee, IL 60031
803 Pine Grove Avenue, Gurnee, IL, 60031
$410,000
Pending
For Sale
$410,000
Pending
Mirror-image units feature two bedrooms, full basements, and attached one-car garages with private back yards.
Property Size2,128 SF
Days on Market37
Property Features for 803 Pine Grove Avenue
General Information
- Standard status
- Pending
- Size
- 2,128 SF
- Property subtype
- Two to Four Units / Duplex Side By Side
Building Details
- Year Built
- 1989
Listing agency
RE/MAX Plaza
(847) 668-3121
Listed by
Brenda Newman-Lawler · License #475094630
(847) 668-3121
Source
Compass
Added: Jun 16 Updated: Jul 22 at 6:29PM Checked: Jul 22 at 6:29PM
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 RE/MAX Plaza
Investment Insights
Based on property information with market context.
This desirable side-by-side ranch duplex offers two mirror-image units, each with a large living room open to an eat-in kitchen. Both units include two bedrooms on the main level and a full bath, along with full basements that provide mechanics and laundry space. The south unit’s basement is partially finished. Each unit also has an attached one-car garage and a private back yard. Updates include a new roof and skylights installed in 2020, and the units are served by forced-air gas heat and central air.
The property is located at 803 Pine Grove Avenue in Gurnee. The listing notes that unit #815 is vacant (go/show), while unit #803 is occupied and requires 24-hour notice for showings.
The north unit has been updated with wood laminate flooring. The owner pays water and garbage.
The property is located at 803 Pine Grove Avenue in Gurnee. The listing notes that unit #815 is vacant (go/show), while unit #803 is occupied and requires 24-hour notice for showings.
The north unit has been updated with wood laminate flooring. The owner pays water and garbage.
Key Highlights
- 1989‑built side‑by‑side ranch duplex with mirror‑image units
- Each unit is approximately 1,064 SF with 2 bedrooms on the main level
- Each unit offers a full basement with mechanics and laundry (south basement partially finished)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.4k | $20.40 |
| − Vacancy | −$2.7k | −$1.26 |
| EGI | $40.7k | $19.14 |
| − OpEx | −$12.2k | −$5.74 |
| NOI | $28.5k | $13.40 |
2,128 SF · lease $20.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$407.3K
$356.4K – $475.2K
NOI $28,513 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$375.2K
$328.3K – $437.7K
NOI $26,264 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$734.7K
$642.9K – $857.2K
NOI $51,429 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Mirror-image units feature two bedrooms, full basements, and attached one-car garages with private back yards.
Where is this duplex located?
The property is located at 803 Pine Grove Avenue Gurnee, IL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1989‑built side‑by‑side ranch duplex with mirror‑image units; Each unit is approximately 1,064 SF with 2 bedrooms on the main level; Each unit offers a full basement with mechanics and laundry (south basement partially finished)
