Well-maintained 3-unit investment property with stable rental income and long-term tenants. Main unit features 1 bed, 1 bath, and an additional room ideal for an office. Recently repainted with new carpeting. Tenant has access to storage in both the basement and back area. Basement includes shared laundry (for Unit 1), was sealed less than a year ago, and has a new water heater (2024). Radiant heat in Units 1 & 2; Unit 3 has central heat/AC. Unit 2 is a freshly updated upstairs studio with new flooring in the kitchen and bath, leased through April 2026. Unit 3 is a 1 bed, 1 bath with a long-term tenant (over 20 years) who assists with exterior upkeep. Lease runs through July 2026. Bonus income from an additional garage space currently rented as storage on a month-to-month basis at $125/month. Separate storage spaces available for each unit. Excellent location for an investment property as it's just minutes from downtown Elgin, RT20, I90, and multiple Metra stops. Great rental history and solid cash flow make this an ideal addition to any investment portfolio.
Closed
$327,500
572 Walnut Ave, Elgin, IL 60123
3beds
--sqft
Multi Family
Built in 1863
-- sqft lot
$340,900 Zestimate®
$--/sqft
$2,135 Estimated rent
Home value
$340,900
$307,000 - $378,000
$2,135/mo
Zestimate® history
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List your homeWhat's special
Freshly updated upstairs studioNew carpeting
Zillow last checked:
Listing updated:
Listed by:
Andrew Stoll, ABR,e-PRO,SRS 847-214-1619,
Stoll Real Estate
Bought with:
Brian Hochstetter
eXp Realty - Chicago North Ave
Source: MRED as distributed by MLS GRID,MLS#: 12378503
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Rooms
- Room types: Foyer
Heating
- Natural Gas, Forced Air, Steam, Radiant, Sep Heating Systems - 2+
Features
- Basement: Unfinished,Full
Property
Parking
- Parking features: No Garage, Off Site, Other, Garage
Features
- Patio & porch: Porch
Lot
- Size: 7,850 Square Feet
- Dimensions: 50X157
- Features: None
Details
- Additional structures: Other, Storage
- Parcel number: 0623201008
- Zoning: OTHER
- Special conditions: None
- Other equipment: Ceiling Fan(s), Sump Pump
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Foundation: Concrete Perimeter
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1863
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Curbs, Sidewalks, Street Lights, Street Paved
- Security: Carbon Monoxide Detector(s)
Location
- Region: Elgin
Financial & listing details
- Tax assessed value: $299,283
- Annual tax amount: $7,343
- Date on market: 6/5/2025
- Listing terms: Conventional
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 7/18/2025 | Sold | $327,500+0.8% |
Source:  MRED as distributed by MLS GRID #12378503 Report a problem | ||
| 6/23/2025 | Contingent | $325,000 |
Source: MRED as distributed by MLS GRID #12378503 Report a problem | ||
| 6/5/2025 | Listed for sale | $325,000+18.2% |
Source: MRED as distributed by MLS GRID #12378503 Report a problem | ||
| 2/9/2022 | Sold | $275,000 |
Source: MRED as distributed by MLS GRID #11284521 Report a problem | ||
| 12/18/2021 | Contingent | $275,000 |
Source: MRED as distributed by MLS GRID #11284521 Report a problem | ||
| 12/10/2021 | Listed for sale | $275,000 |
Source: MRED as distributed by MLS GRID #11284521 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,343 +4.9% | $99,761 +10.7% |
| 2023 | $7,001 -1.8% | $90,126 +9.7% |
| 2022 | $7,126 +4% | $82,179 +7% |
| 2021 | $6,855 +2.5% | $76,832 +4.7% |
| 2020 | $6,690 +2.5% | $73,348 +5% |
| 2019 | $6,526 +0.3% | $69,869 +6.2% |
| 2018 | $6,507 +1.7% | $65,821 +5.8% |
| 2017 | $6,400 +4% | $62,224 +7.8% |
| 2016 | $6,157 | $57,727 +9.1% |
| 2015 | -- | $52,912 +1.2% |
| 2014 | -- | $52,259 -2.6% |
| 2013 | -- | $53,638 -24.4% |
| 2011 | -- | $70,924 -9.6% |
| 2010 | -- | $78,499 -6.7% |
| 2009 | -- | $84,154 |
| 2008 | -- | $84,154 +3.3% |
| 2007 | -- | $81,449 +4.2% |
| 2006 | -- | $78,173 +6.5% |
| 2005 | -- | $73,409 +6.8% |
| 2004 | -- | $68,761 +7.8% |
| 2003 | -- | $63,792 +8% |
| 2002 | -- | $59,066 +7.4% |
| 2001 | -- | $54,971 +5.1% |
| 2000 | -- | $52,314 |
Find assessor info on the county website
Neighborhood: Near West Elgin
Nearby homes
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Nearby schools
GreatSchools rating
- 5/10Washington Elementary SchoolGrades: PK-6Distance: 0.5 mi
- 3/10Abbott Middle SchoolGrades: 7-8Distance: 0.6 mi
- 3/10Larkin High SchoolGrades: PK,9-12Distance: 1.1 mi
Schools provided by the listing agent
- Elementary: Washington Elementary School
- Middle: Abbott Middle School
- High: Larkin High School
- 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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Estimated market value
$340,900
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Estimated market value
$340,900
- Illinois
- Kane County
- Elgin
- 60123
- Near West Elgin
- 572 Walnut Ave
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