85 South Crystal Street

Elgin, IL 60123

$2,250,000
Price
24
Beds
15
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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...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.

Property Details for 85 South Crystal Street

Area
Elgin
Township
Elgin
Zoning
MULTI

Location

Listing Courtesy of Berkshire Hathaway HomeServices Chicago
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LISTING UPDATED: 05/02/2024 06:39 PM

Property Details for 85 South Crystal Street

StatusContingent
MLS #11920303
Days on Market182
Taxes$33,229 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance
Year Built1972
Lot Size0.79 AC / 34,412 SF
CountyKane County

Location

Listing Courtesy of Berkshire Hathaway HomeServices Chicago
Add your commute

Building Information for 85 South Crystal Street

Stories-Residences15Year Built1972Building Size-Lot Size0.79 AC / 34,412 SF

Payment Calculator

$15,048 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,279

Property Taxes

$2,769

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 85 South Crystal Street

General Information
Addtl Parking Information
  • Open Parking Spaces: 29.0
Location and General Information
  • Frontage Type: City Street
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Wall Sleeve
  • Electric: Circuit Breakers, Separate Meters, Service - 101 to 200 Amps
  • # Of Washers: 2
  • Basement Description: Unfinished, Exterior Access, Storage Space
  • Heat/Ventilation: Electric,Forced Air,Gas,Wall Unit,Separate Per Unit
  • # Of Window/Ac: 15
  • # Of Refrigerators: 15
  • Misc Inside: Storage Inside,Laundry Room
  • # Of Dryers: 2
  • # Of Dishwashers: 0
  • Num of Baths: 15.0
Utilities / Equipment
  • Utilities: Sewer-Storm Available, Water-Municipal
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Heat, Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Corridor-Exterior Entrance
  • Lot Dimensions: 255 X 136
  • Stories: 3
  • Fire Protection: Fire Extinguisher/s,Smoke or Fire Protectors,Carbon Monoxide Detector(s)
  • Building Area Total: 11349
  • Lot Size Source: Other
  • # Of Ranges: 15
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Multi-Family
  • Buyer Financing: Conventional
  • Public Document Count: 0
  • Photos Count: 11
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 15
Income & Expenses
  • Electric Expense: $1,200.00
  • Fuel Expense: $3,600.00
  • Gross Income: $252,000.00
  • Gross Scheduled Income: $252,000.00
  • Insurance Expense: $6,000.00
  • Maintenance Expense: $2,800.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2022
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Janitor Expense: 2400
  • Net Operating Income Year: 2022
  • Other Expense Source: Owner Projection
  • Repairs-Decor Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 21000
  • Water Expense Source: Owner Projection
  • Net Operating Income: $176,571.00
  • Operating Expense: $75,429.00
  • Other Expense: $.00
  • Trash Expense: $3,800.00
  • Water Sewer Expense: $18,000.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 9
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 85 South Crystal Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 85 South Crystal Street

Taxable ValueLand$47,435Additions$335,789Total$383,224
Tax Record2022$33,230 ($2,769 / month)
Home Facts
Total Finished SqFt11,340 SqFtAbove Grade Finished SqFt11,340 SqFtStories3Lot Size34,553 SqFtStyleMulti-Family Res (5+ Units)Year Built1972CountyKANEAPN06-14-429-005

Schools near 85 South Crystal 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 - 8 to 12
Rating
School
Distance
Washington Elementary School
PublicK to 6

Abbott Middle School
Public7 to 8

Larkin High School
Public9 to 12

Central School Program
Public8 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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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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices Chicago

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. Based on information submitted to the MLS GRID as of 05/02/2024 06:39 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.