Address
85 S Crystal Street, Elgin, IL
Price
$ 2,250,000
Property Attributes
  • MLS#11920303
  • TypeContingent
  • CountyKANE
  • CityElgin
  • AreaElgin
  • Zip60123
  • StyleMulti-Family
  • Year Built1972
  • Taxes$ 33229
  • Price$ 2,250,000
  • Bedrooms3
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage11349
  • Lot Size0.79 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description

Presenting a prime investment opportunity featuring a 3-story, 15-unit apartment building; mix of (6) 1 Bed/1 Bath and (9) 2 Bed/1 Bath. All units are accessible from exterior and interior entrances. The units are finished with laminate flooring , eat-in kitchens, spacious bathrooms, and sleeve air conditioners. There are (9) units with baseboard heat and (6) units with its own individual furnace; tenants pay electric and gas. In addition, the full basement accommodates laundry facilities, mechanical systems, utility meters, and storage space for both tenants and the owner. The property is nearly one-acre with a generously sized front lot, providing the potential for future development or expansion. This building offers investors to add value with minimal investment, as major mechanical upgrades and essential updates have already been completed. Improvements: New Asphalt Parking Lot (2023); New Dumpster Enclosure (2023); New Plumbing For Boiler (2022); New Hot Water Heater (2022); Installed Laundry Machines (2022); New Dollar Bill To Coin Exchanger (2022). Located near downtown Elgin offering convenient access to the Metro station, Elgin Community College, Grand Victoria Casino, The Fox River and I-90.

Price History
11/3/2023 Listed $2,250,000

General Features

Cooling Wall Sleeve
Utilities Sewer-Storm Available,Water-Municipal
Possession Closing
Zoning MULTI
Year Built 1972
Electric Circuit Breakers,Separate Meters,Service - 101 to 200 Amps
Tenant Pays Electricity,Heat,Varies by Tenant
Stories 3
Township Elgin
Tax Year 2022
Current Use Multi-Family
Gross Income 252000
County Kane
Net Operating Income 176571
Operating Expense 75429
Insurance Expense 6000
Property Type Commercial Sale
Contingency Attorney/Inspection
MaintenanceExpense 2800
Possible Use Multi-Family
Status Contingent
Directions RT 31 TO LOCUST W TO CRYSTAL N TO PROPERTY
City Elgin
Total Units 15
MLS Area Elgin
Street Name Crystal
Tax Annual Amount 33229
Electric Expense 1200
Fuel Expense 3600
Trash Expense 3800
Water Sewer Expense 18000
Additional Parcels Y/N No
Virtual Tour https://tours.databasedads.com/4562776/85-S-Crystal-Street-Elgin-IL?u=1
Days on Market 183
Standard Status Active Under Contract
Property Type Multi Family 5+

Interior Features

Street Suffix Street
Basement Unfinished,Exterior Access,Storage Space

Exterior Features

Building Area Total 11349
Lot Dimensions 255 X 136
Lot Size Acres 0.79
Frontage Type City Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60123

Price
AVG $380K
$2.25M
Taxes
AVG $6,382
$33,229
Visits
AVG 93
191
Data Provided by Inside Real Estate®
Year Built
AVG 1971
1972
Walkscore
AVG 46
83
Data Provided by Walkscore® not using MLS data

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