1542 Victoria Ave

North Chicago, IL 60064

$1,289,900
Price
96
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Description

Turnkey 6-Unit Multifamily Property with Over 9% Cap Rate - Fully Renovated Exceptional investment opportunity featuring a fully renovated six-unit multifamily building offering a strong 9% cap rate and no deferred maintenance. This property has been professionally rebuilt from the studs up, with all work completed under full architectural and structural engineering plans. Each of the six units has been completely updated to modern standards, including new mechanical systems and high-quality finishes...Turnkey 6-Unit Multifamily Property with Over 9% Cap Rate - Fully Renovated Exceptional investment opportunity featuring a fully renovated six-unit multifamily building offering a strong 9% cap rate and no deferred maintenance. This property has been professionally rebuilt from the studs up, with all work completed under full architectural and structural engineering plans. Each of the six units has been completely updated to modern standards, including new mechanical systems and high-quality finishes throughout. Property Highlights: Plumbing: All new drain and copper water lines plus two new 50-gallon water heaters (2024). Electrical: New conduit, wiring, and individual metering; updated service panels and circuit breakers in each unit. HVAC: Six new gas furnaces, A/C units, ductwork, thermostats, and seven new gas meters. Exterior: New roof, gutters, fascia, soffits, and energy-efficient windows. Interiors: New kitchens with stainless steel appliances, granite countertops, modern cabinetry, and LVP flooring. Bathrooms: Updated with new tubs, vanities, toilets, and custom tilework. Smart Features: Smart lock system with remote access control for owners and tenants. Laundry: New commercial-grade, stacked card-reader washer/dryer. Infrastructure: New sewer main cleanout. Lighting: LED lighting throughout. Additional features include 10 parking spaces (8 in the rear and 2 via private driveway for Unit 1), street parking, and updated common areas. This property offers reliable income, modern systems, and strong long-term investment potential. Private showings available by appointment. Listing Broker has ownership interest in the property.

Property Details for 1542 Victoria Avenue

Area
North Chicago
Township
Waukegan
Air Conditioning Type
Central Individual
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 10/21/2025 02:19 PM

Property Details for 1542 Victoria Avenue

StatusActive
MLS #12355994
Days on Market213
Taxes$10,257 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1910
Lot Size0.22 AC / 9,495 SF
CountyLake County

Location

Listing Courtesy of RE/MAX At Home
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Building Information for 1542 Victoria Avenue

Stories3Residences6Year Built1910Building Size-Lot Size0.22 AC / 9,495 SF

Payment Calculator

$7,229 per month

30 year fixed, 6.28% Interest

Principal and Interest

$6,374

Property Taxes

$855

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1542 Victoria Avenue

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
Location and General Information
  • Frontage Type: City Street
  • Information: None
Taxes and HOA Information
  • Association Fee Includes: None
  • Additional Parcels: No
Property Information
Interior Features
  • Basement Type: Unfinished
  • Air Conditioning: Central Individual
  • Electric: Separate Meters
  • # Of Washers: 1
  • Heat/Ventilation: Other
  • # Of Window/Ac: 0
  • # Of Refrigerators: 6
  • Washer/Dryer Lsd: No
  • Misc Inside: Laundry Room
  • # Of Dryers: 1
  • # Of Dishwashers: 6
  • Num of Baths: 36.0
Exterior Features
  • Building Unit Info: Fire Alarm,Smoke/Alarm Detector
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Heat, Other
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Size Source: County Records
  • Lot Dimensions: 126.6X75
  • Lot Size Square Feet: 9495.0
  • Stories: 3
  • Construction: Vinyl Siding
  • Roof Type: Composition
  • Fire Protection: Smoke or Fire Protectors
  • Foundation Details: Concrete Perimeter
  • # Of Ranges: 6
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 3
  • Document Date: 2025-05-19T18:03:31
  • Photos Count: 50
  • Deconversion: N
Miscellaneous
  • Land Amenities: Sidewalks
  • Location: Free Standing/Urban
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $420.00
  • Fuel Expense: $576.00
  • Gross Income: $142,440.00
  • Gross Scheduled Income: $144,900.00
  • Insurance Expense: $6,400.00
  • Maintenance Expense: $.00
  • Manager Expense: $.00
  • Electric Expense Source: Actual
  • Known Encumbrances: None Known
  • Expense Year: 2024
  • Total Annual Expense Source: Broker Projection
  • Fuel Expense Source: Broker Projection
  • Insurance Expense Source: Actual
  • Janitor Expense: 1000
  • Manager Expense Source: AC
  • Other Expense Source: Owner Projection
  • Repairs-Decor Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 11870
  • Water Expense Source: Broker Projection
  • Net Operating Income: $123,063.00
  • Operating Expense: $21,837.00
  • Other Expense: $1,000.00
  • Trash Expense: $1,044.00
  • Water Sewer Expense: $1,140.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 6
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 6
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 6
Unit 5
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 6
Unit 6
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 6
Unit 7
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 1542 Victoria Avenue

DateEvent & SourcePriceAppreciation
Oct 9, 2025

Price Change

MRED #12355994

$1,289,900—
Jul 16, 2025

Price Change

MRED #12355994

$1,339,500—
May 6, 2025

Listed (Active)

MRED #12355994

$1,399,900—
Aug 1, 2023

Sold (Public Record)

Public Record #1516847202

$325,000—
Aug 1, 2023

Sold

MRED #11777048

$325,000—
Jun 20, 2023

Listed (Active)

MRED #11777048

$335,000—
Jun 20, 2023

Pending

MRED #11777048

—
May 6, 2023

Listed (Active)

MRED #11777048

$335,000—
Jun 20, 2022

Cancelled

MRED #11410096

$283,000—
May 19, 2022

Listed (Active)

MRED #11410096

$283,000—
Sep 15, 2021

Expired

MRED #11144421

$269,999—
Aug 25, 2021

Listed (Active)

MRED #11144421

$269,999—
DateEvent & SourcePrice
10/09/2025

Price Change

MRED #12355994

$1,289,900
07/16/2025

Price Change

MRED #12355994

$1,339,500
05/06/2025

Listed (Active)

MRED #12355994

$1,399,900
08/01/2023

Sold (Public Record)

Public Record #1516847202

$325,000
08/01/2023

Sold

MRED #11777048

$325,000
06/20/2023

Listed (Active)

MRED #11777048

$335,000
06/20/2023

Pending

MRED #11777048

—
05/06/2023

Listed (Active)

MRED #11777048

$335,000
06/20/2022

Cancelled

MRED #11410096

$283,000
05/19/2022

Listed (Active)

MRED #11410096

$283,000
09/15/2021

Expired

MRED #11144421

$269,999
08/25/2021

Listed (Active)

MRED #11144421

$269,999

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1542 Victoria Avenue

Taxable ValueLand$9,327Additions$70,763Total$80,090
Tax Record2024$10,406 ($867 / month)
Home Facts
Baths6Total Finished SqFt4,960 SqFtAbove Grade Finished SqFt4,960 SqFtStories3Lot Size9,496 SqFtStyleOffice BuildingYear Built1910CountyLAKEAPN08-33-307-039

Schools near 1542 Victoria Avenue

This home is within North Chicago School District 187.
Rating
School
Type
Grades
Distance
Evelyn Alexander School
Public - K to 3
Neal Math and Science Academy
Public - 6 to 8
North Chicago Community High School
Public - 9 to 12
A. J. Katzenmaier Academy
Public - 4 to 5
Rating
School
Distance
Evelyn Alexander School
PublicK to 3

Neal Math and Science Academy
Public6 to 8

North Chicago Community High School
Public9 to 12

A. J. Katzenmaier Academy
Public4 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1542 Victoria Avenue, North Chicago, IL 60064

1542 Victoria Avenue is a multi-family home for sale in North Chicago, IL 60064. This property was listed for sale on May 6, 2025 by RE/MAX At Home, it's currently listed at $1,289,900. It has been on the market for a total of 213 days and was last sold on August 1, 2023. This listing's school district is North Chicago School District 187. Nearby schools include Evelyn Alexander School, Neal Math and Science Academy and North Chicago Community High School. 1542 Victoria Avenue is a 96-bed, 36-bath, multi-family home built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX At Home

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 10/21/2025 02:19 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.