Sold
Last Sold Price
6 beds2,400 sqft
472 N Spring St, Elgin, IL 60120
Multi FamilyProperty Type
0.2 acresLot Size
$175/sq ftPrice per sq ft
4 carsParking Spaces

Description

Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential...Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential 3rd unit coach house development or can be rented to tenants now for indoor parking income. Separately metered gas & electric. Coin-operated commercial washer & dryer in basement shared by both units provides extra income. Second floor tenants maintain lawn and bushes and are responsible for snow removal in exchange for $60/month reduction in rent which is reflected in adjusted Unit 2 current lease amount of $1,640/month. Both apartments are currently leased - start out with strong cash flow right away. Photos are from when both units were vacant prior to tenant occupancy.

    Sold By MPower Residential Brokerage LLC

    • Listed by: Kevin Williams 847.323.3136 krwill8@yahoo.com • HomeSmart Connect
    Listing closed: 08/31/2026 12:00 AM • Source: MRED as distributed by MLS GRID, MLS#: 12704270

    Location

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    $2,788 per month

    30 year fixed, 6.71% Interest

    Principal and Interest

    $2,170

    Property Taxes

    $617

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    Property Information for 472 North Spring Street

    Property Details
    • Taxes: $7,406 / year
    • MLS Type: Two to Four Units / 2 Flat
    • County: Kane County
    • Area: Elgin
    • Township: Elgin
    • Ownership: Fee Simple
    • Num Of Garage Spaces: 2.0
    • Heat/Fuel: Natural Gas, Forced Air
    Building Information
    • Residences: 2
    • Lot Size: 0.20 AC / 8,712 SF
    General Information
    School Information
    • Elementary School District: 46
    • High School District: 46
    • Middle Or Junior School District: 46
    Addtl Parking Information
    • Parking Details: Yes, Garage Owned, Detached, Driveway, Owned, Garage
    Property Information
    Interior Features
    • Num Of Rooms: 10
    • Bedrooms Total: 6
    • Bedrooms (Below Grade): 0
    • Basement Type: Unfinished, Full
    • Bedrooms Possible: 6
    • # Full Baths in Building: 2
    • # Half Baths in Building: 0
    • Num of Baths: 2.0
    Utilities / Equipment
    • Sewer: Sewer-Public
    • Water: Public
    • Other Equipment: TV-Cable, Sump Pump, Multiple Water Heaters, Water Heater-Gas
    Property/Lot Information
    • New Construction YN: No
    • Rebuilt: No
    • Rehabilitated: Yes
    • Rehab Year: 2020
    • Built Before 1978: Yes
    • Age: 100+ Years
    • Lot Size: Less Than .25 Acre
    • Lot Dimensions: 133 X 67 X 133 X 66
    • Total # Units in Building: 2.0
    • Waterfront: No
    • Exterior Building Type: Other
    • Construction: Other
    • Roof Type: Asphalt
    • Foundation Details: Concrete Perimeter
    • General Information: School Bus Service,Commuter Bus,Commuter Train,Historical District
    • 3 Br Un In Bldg: Yes
    Property and Assessments
    • Buyer Financing: Conventional, Cash
    • Public Document Count: 4
    • Document Date: 2026-07-23T22:16:19
    • Photos Count: 16
    • OpenHouse Count: 0
    Virtual Tour/Additional Media
    • Virtual Tour: None
    • Virtual Tour YN: No
    Multi Family
    Income & Expenses
    • Gross Income: $44,880.00
    • Insurance Expense: $1,584.00
    • Insurance Expense Source: Actual
    • Other Addl Income: Coin Laundry
    • Water Expense Source: Actual
    • Net Operating Income: $32,890.00
    • Water Sewer Expense: $3,000.00
    Unit 1
    • Unit Type Actual Rent: $1,900.00
    • Unit Type Baths Total: 1
    • Unit Type Beds Total: 3
    • Unit Type Type: Unit 1
    • Lease Expiration Date: 07/27
    Unit 2
    • Unit Type Actual Rent: $1,640.00
    • Unit Type Baths Total: 1
    • Unit Type Beds Total: 3
    • Unit Type Type: Unit 2
    • Lease Expiration Date: 07/27

    Property History for 472 North Spring Street

    DateEvent & SourcePriceAppreciation
    Sep 14, 2019

    Sold (Public Record)

    Public Record #653692262

    $91,000
    DateEvent & SourcePrice
    09/14/2019

    Sold (Public Record)

    Public Record #653692262

    $91,000

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

    Public Records for 472 North Spring Street

    Taxable ValueLand$16,822Additions$80,253Total$97,075
    Tax Record2025$7,406 ($617 / month)
    Home Facts
    Beds4Baths2Total Finished SqFt2,268 SqFtAbove Grade Finished SqFt2,268 SqFtStories2Lot Size8,712 SqFtStyleSingle Family ResidenceYear Built1890Year Renovated1890CountyKANEAPN06-11-484-006

    Schools near 472 North Spring Street

    This home is within School District U-46.
    Rating
    School
    Type
    Grades
    Distance
    Public - K to 6
    Public - 7 to 8
    Public - 9 to 12
    Public - 6 to 12
    Rating
    School
    Distance
    Mckinley Elementary School
    PublicK to 6

    Larsen Middle School
    Public7 to 8

    Elgin High School
    Public9 to 12

    Central School Program
    Public6 to 12

    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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    Listing Courtesy of HomeSmart Connect

    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 09/01/2026 03:38 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.