292 Villa StElgin, IL 60120

Property Details for 292 Villa St

Year built

1900

Lot size

0.11 AC

Property size (Sq ft)

5,211 SF

Property type

Other commercial real estate

Description

This exceptional six-unit multifamily property at 292 Villa Street in Elgin, Illinois, presents a compelling investment opportunity. Boasting a substantial 5,211 square feet on a 0.11-acre lot, this historic building underwent significant exterior renovations in 2024, including a brand-new roof. The property also features a newly paved parking lot completed in 2022, supplemented by additional off-street parking. Each of the six units has been thoughtfully updated, showcasing newer flooring, modern tile bathrooms, and kitchens equipped with updated cabinetry, countertops, and appliances. Individual heating units and hot water heaters are installed in each unit, with tenants responsible for gas and electric utilities. A comprehensive electrical system upgrade has been completed. The attic is fully insulated for optimal energy efficiency. Convenient front and rear entrances serve each unit, and shared front porches are available on each level. A full basement provides ample space for utilities, with potential for future laundry and storage rooms. The property's prime location offers exceptional walkability to downtown Elgin, the commuter train station, a casino, diverse dining options, and shopping centers. Currently, rents are below market value, presenting significant potential for increased revenue given the high demand in this desirable area. This property is a rare find, combining historic charm with modern updates and a strategic location. The asking price is $739,900.

Location Insight

City

Elgin

County

Kane

State

Illinois

Latitude

42.0319

Longitude

-88.2741

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