IL > Elgin
Elgin, IL 60120,292 Villa ST
Elgin, IL 60120,292 Villa ST
Elgin, IL 60120,292 Villa ST
Elgin, IL 60120,292 Villa ST
Elgin, IL 60120,292 Villa ST
Elgin, IL 60120,292 Villa ST
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Legacy Properties

Legacy Properties

Legacy Properties, A Sarah Leonard Company

+1(224) 999-9100
$ 630,000
Est. payment | /mo

5,211 SqFt

Save
$ 630,000
Est. payment | /mo
Save

5,211 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 5,211 sqft

Price per Sqft $120

MLS Listing ID 12396646

Maintenance Fees $8,500

Year Built 1890

Annual Tax Amount $11,952

Tax Year 2024

Lot Size 4,791 Sqft

Lot Dimensions 36X132

Property Sub-Type Multi Family 5+

Property Description

292 Villa Street is a rare gem in the heart of Elgin's Historic District-offering both character and cash flow. In 2024, the building underwent a full facade restoration under the direction of a historical preservation expert, ensuring long-term curb appeal. In addition to the facade, the asphalt portion of the roof has been recently replaced. This fully occupied 6-unit building provides immediate income and built-in upside. Three of the six leases are set to expire within the next 18 months, creating a near-term opportunity to raise rents to market rates. Projected rental income has the potential to reach $91,200 by 2027, with rents increasing alongside the market. Each unit includes an assigned off-street parking space in the resurfaced and re-striped lot. 4 new water heaters have been installed this past year, along with new stoves and a refrigerator for select units. In addition to that, the front porch was recently replaced in 2023 to meet historic standards. Tenants pay their own gas and electric, and there is an additional shared space in the basement available for both tenant and landlord storage. There is also an opportunity to put in a coin-operated laundry for additional income. Location is a key asset: the property is walkable to downtown Elgin, the Metra commuter train, and the Grand Victoria Casino. Demand in this area remains consistently strong, resulting in low tenant turnover and rapid lease-up when vacancies occur.

Location

State IL

County Kane

Area Elgin

Zoning MULTI

Rooms

Basement Unfinished

Interior

Cooling Window Unit(s)

Fireplace N

Exterior

Utilities Available Cable Available

Roof Type Composition

Building

Dwelling Type Multi Family 5+

Water Municipal Water

Level or Stories 3

Structure Type Wood,Stucco,Fiber Cement

Midwest Real Estate Data (MRED) IDX
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Marie Krajecki • Century 21 New Heritage - Hampshire
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(224) 999-9100

managingbroker@legacypropertiesil.com

2325 Dean St, Suite 900, St Charles, Illinois, 60175, USA

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292 Villa ST