350 County Line Rd, Lee, IL 60530

?? A Rare Investment Find – Renovated Historic Schoolhouse. If you want an investment that breaks the mold—something with character, strong income, and room to add your own spin—this is the one to check out. ** DSCR Loans Available ** Showings will start on September 25th, 2026. ??Location of Property 350 County Line Rd, Lee, IL 60530. Rental demand in this area is strong, and multi-unit options are limited. Lee straddles DeKalb and Lee counties. You’re close to Rochelle, Dekalb, and a quick 10-minute drive to Shabbona Lake State Park. ?? You don’t come across something like this every day. Looking for something you won’t find on every block? This old schoolhouse is through a full transformation into distinct living spaces, it’s been stripped to the studs, new insulation, new electrical, new HVAC and capped with a new roof, and just working on the final touches. ??? The downstairs two apartments are move-in ready, and the third—a huge upstairs unit— is move in ready and can be made into (2) Apartments upstairs for more rental income potential. Each Unit has its own Electrical Meter, Gas Meter, and Water Meter. ??Rental Income Potential The Rental income could bring in $5,000-6,000 per month. ?? Why This Deal Stands Out Properties like this—flexible, finished, and full of upside—rarely come up for sale. Strong rental demand in Lee, IL, and very few multi-unit options make this a compelling play, whether you’re looking for cash flow or a live/work setup. ?? Pricing & Information ** DSCR Loans Available ** Cash Buyers Bring Your Offers!! The seller’s motivated and is asking $450,000. This is over 12,000 sq ft of living space. Unit Breakdown - 3 Units Total Unit-1 (Ready to Go) A 1,100 sq ft apartment with one bedroom, a generous living/dining space, kitchen, laundry room, bathroom, and a roomy bedroom. Brand new furnace and water heater, plus separate gas and electric meters. Unit-2 (Ready to Go) A 1,100 sq ft apartment offering one bedroom, a den, kitchen, family/living room, dining area, laundry room, and bath. Like Unit 1, it’s equipped with new mechanicals and dedicated utility meters. Unit-3 (Almost There) Upstairs you’ll find a massive 4,000+ square foot house/apartment with four bedrooms—including a master suite with its own sitting area and bath. Potential Fourth Unit: Turn Unit 3 into two separate apartments by adding a wall and a small kitchen, boosting your rental income even more. ??? Gym & Extras The gym is 4,500 sqft…… The school gym is still intact—a full basketball court, bleachers, locker rooms, plus a basement and storm shelter. Electrical upgrades and ceiling repairs are underway. ?? Zoning Multi-Tenant Residential Zoning - so you can rent or occupy multiple units as you see fit. ?? Comparable Sales Renovated schoolhouses don’t come up often, but here are some recent sales for context: • $370,000 | 1,701 sq ft (1287 Locust Rd) • $360,000 | 1,733 sq ft (13658 W County Line Rd) • $300,000 | 1,740 sq ft (1336 Woodlawn Rd) • $295,000 | 1,776 sq ft (1426 Paw Paw Rd)