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Sold for $720,000
  • $720,000

    535 Pearl Ave, Loves Park, IL 61111

    --beds
    --baths
    7,500sqft
    5+ Units
    Built in 1967
    -- sqft lot
    $789,100 Zestimate®
    $96/sqft
    $1,126 Estimated rent

    Home value

    $789,100

    $694,000 - $892,000

    $1,126/mo

    Zestimate® history
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    What's special

    Commercial-grade guttersNew boilersAdjacent parkingSingle-level livingFull basementsElectric heatNew roofs
    Turnkey 11-Unit Investment Opportunity – Prime Location. Rare opportunity to own three adjacent multi-family buildings (11 total units) on a single parcel in a desirable, high-demand neighborhood. Two 4-unit townhouse-style buildings with full basements. One 3-unit ranch-style building—single-level living. All units have adjacent parking for tenant convenience. Excellent rental history and long-term tenants. Major Updates Include: New boilers (2023) in one 4-family building, Commercial-grade gutters and fascia boards (2023), Updated boiler electrical system. 3-family building features electric heat—paid by tenants. Owner provides heat and water for the two 4-unit buildings. New roofs and gutters installed in 2018/2022. All buildings are located within the same complex—easy to manage with no travel between units. Strong cash flow and income potential of up to $165,000/year make this a prime investment opportunity. 531 Pearl Avenue and 535 Pearl Avenue to be sold as a package deal.

    Zillow last checked:

    Listing updated:

    Listed by:

    Jay Dowthard 815-289-7530,

    Gambino Realtors

    Bought with:

    NON-NWIAR Member

    Northwest Illinois Alliance Of Realtors®

    Source: NorthWest Illinois Alliance of REALTORS®,MLS#: 202502320MLS Logo

    Facts & features

    Interior

    Heating
    • Hot Water/Steam
    Cooling
    • Window Unit(s)
    Appliances
    • Included: Refrigerator, Stove/Cooktop, Natural Gas Water Heater
    • Laundry: In Unit
    Features
    • Basement: Full
    Interior area
    • Total structure area: 7,500
    • Total interior livable area: 7,500 sqft
    • Finished area above ground: 7,500
    • Finished area below ground: 0

    Property

    Parking
    • Total spaces: 16
    Features
    • Levels: Two
    • Stories: 2
    • Fencing: Fenced
    Details
    • Parcel number: 1207105008
    • Zoning: R1

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: 5+ Units
    Materials
    • Brick/Stone, Aluminum
    • Roof: Shingle
    Condition
    • Year built: 1967

    Utilities & green energy

    • Electric: Circuit Breakers
    • Sewer: City
    • Water: City
    • Utilities for property: Separate Utilities

    Community & HOA

    Community
    • Subdivision: IL
    Location
    • Region: Loves Park

    Financial & listing details

    • Price per square foot: $96/sqft
    • Annual tax amount: $12,623
    • Price range: $720K - $720K
    • Date on market: 5/8/2025
    • Cumulative days on market: 15 days

    Price history

    DateEventPrice
    7/31/2025Sold$720,000-16.3%$96/sqft
    Source: NorthWest Illinois Alliance of REALTORS® #202502320 Report a problem
    5/23/2025Pending sale$860,000$115/sqft
    Source: NorthWest Illinois Alliance of REALTORS® #202502320 Report a problem
    5/16/2025Price change$860,000-9.5%$115/sqft
    Source: NorthWest Illinois Alliance of REALTORS® #202502320 Report a problem
    5/8/2025Listed for sale$950,000$127/sqft
    Source: NorthWest Illinois Alliance of REALTORS® #202502320 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: 61111

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • Elementary: Loves Park Elementary
    • Middle: Harlem Jr
    • High: Harlem High School
    • District: Harlem 122

    Source: NorthWest Illinois Alliance of REALTORS®. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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