515 8th Street new Save Request In-Person Tour Request Virtual Tour
Waukegan,IL 60085
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 3,780 sqft
Price per Sqft $135
MLS Listing ID 12427007
Year Built 1907
Annual Tax Amount $8,553
Tax Year 2024
Lot Size 7,405 Sqft
Lot Dimensions 7,332
Property Sub-Type Multi Family 5+
Property Description
Solid 6-Unit Investment Opportunity - Fully Occupied-Sold As-Is Welcome to 515 8th St, a fully occupied, income-producing 6-unit property in Waukegan offering immediate cash flow with upside potential. The building consists of 2 one-bedroom units, 2 two-bedroom units, and 2 studio apartments. Three of the six units have been recently updated, and all apartments are individually metered for electric. Most tenants are month-to-month, providing flexibility for future rent increases or repositioning. Major capital improvements include newly installed windows throughout the entire building (2024) and a seal-coated, striped rear parking lot with ample off-street parking. Rents are solid and stable, with room for increases to align with market rates. This is a turn-key asset with long-term growth potential for an investor looking to step into a stabilized building with upside. Please note: property is being offered as a private listing initially. Contact listing agent for rent roll and financials.
Location
State IL
County Lake
Zoning MULTI
Rooms
Basement Unfinished
Interior
Fireplace N
Exterior
View Y/N true
Roof Type Reflective Coating,Rubber
Building
Foundation Block,Concrete Perimeter
Water Municipal Water
Structure Type Brick,Concrete