Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential 3rd unit coach house development or can be rented to tenants now for indoor parking income. Separately metered gas & electric. Coin-operated commercial washer & dryer in basement shared by both units provides extra income. Second floor tenants maintain lawn and bushes and are responsible for snow removal in exchange for $60/month reduction in rent which is reflected in adjusted Unit 2 current lease amount of $1,640/month. Both apartments are currently leased - start out with strong cash flow right away. Photos are from when both units were vacant prior to tenant occupancy.
Active
$420,000
472 N Spring St, Elgin, IL 60120
6beds
--sqft
:
Get pre-qualified$3,219/mo
Multi Family
Built in ----
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
New bathrooms
- --
- on Zillow |
- 605
- views |
- 46
- saves |
Zillow last checked:
Listing updated:
Listed by:
Kevin Williams 847-495-5000,
HomeSmart Connect
Source: MRED as distributed by MLS GRID,MLS#: 12704270
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Natural Gas, Forced Air
Appliances
- Included: Multiple Water Heaters, Gas Water Heater
Features
- Basement: Unfinished,Full
Property
Parking
- Total spaces: 4
- Parking features: Yes, Garage Owned, Detached, Driveway, Owned, Garage
- Garage spaces: 2
- Has uncovered spaces: Yes
Lot
- Size: 8,712 Square Feet
- Dimensions: 133 X 67 X 133 X 66
Details
- Parcel number: 0611484006
- Special conditions: None
- Other equipment: TV-Cable, Sump Pump
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other
- Foundation: Concrete Perimeter
- Roof: Asphalt
Condition
- New construction: No
- Major remodel year: 2020
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Elgin
Financial & listing details
- Tax assessed value: $268,236
- Annual tax amount: $7,406
- Date on market: 7/16/2026
- Ownership: Fee Simple
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/24/2019 | Sold | $91,000-28.6% |
Source:  MRED as distributed by MLS GRID #10481304 Report a problem | ||
| 9/24/2019 | Listed for sale | $127,500 |
Source: Baird & Warner - Geneva #10481304 Report a problem | ||
| 8/23/2019 | Pending sale | $127,500 |
Source: Baird & Warner - Geneva #10481304 Report a problem | ||
| 8/10/2019 | Price change | $127,500-14.9% |
Source: Baird & Warner - Geneva #10481304 Report a problem | ||
| 8/4/2019 | Price change | $149,900-14.1% |
Source: Baird & Warner - Geneva #10481304 Report a problem | ||
| 7/8/2019 | Price change | $174,500-10.3% |
Source: Baird & Warner - Geneva #10409566 Report a problem | ||
| 6/19/2019 | Price change | $194,500-9.5% |
Source: Baird & Warner - Geneva #10409566 Report a problem | ||
| 6/15/2019 | Listed for sale | $215,000 |
Source: Baird & Warner - Geneva #10409566 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,156 +3.9% | $89,412 +10.7% |
| 2023 | $6,886 +16.6% | $80,777 +18.6% |
| 2022 | $5,907 +4% | $68,119 +7% |
| 2021 | $5,682 +2.5% | $63,686 +4.8% |
| 2020 | $5,545 +14.4% | $60,798 +5% |
| 2019 | $4,849 +1% | $57,914 +6.2% |
| 2018 | $4,801 +2.4% | $54,558 +5.8% |
| 2017 | $4,688 -8.1% | $51,576 +7.8% |
| 2016 | $5,103 | $47,849 +9.1% |
| 2015 | -- | $43,858 +1.2% |
| 2014 | -- | $43,317 -2.6% |
| 2013 | -- | $44,460 -19% |
| 2012 | -- | $54,911 -3.2% |
| 2011 | -- | $56,708 -9.7% |
| 2010 | -- | $62,765 -6.7% |
| 2009 | -- | $67,286 |
| 2008 | -- | $67,286 +3.3% |
| 2007 | -- | $65,124 +4.2% |
| 2006 | -- | $62,505 +11.6% |
| 2005 | -- | $56,023 +6.8% |
| 2004 | -- | $52,476 +7.8% |
| 2003 | -- | $48,683 +8% |
| 2002 | -- | $45,077 +7.5% |
| 2001 | -- | $41,951 +10.6% |
| 2000 | -- | $37,922 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Northeastern Elgin
Nearby schools
GreatSchools rating
- 3/10Mckinley Elementary SchoolGrades: K-6Distance: 0.3 mi
- 3/10Larsen Middle SchoolGrades: 7-8Distance: 0.6 mi
- 2/10Elgin High SchoolGrades: 9-12Distance: 2.4 mi
Schools provided by the listing agent
- District: 46
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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