20
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Listed by Michael Scanlonof eXp Realty
$895,000
Est. payment /mo
0.45 Acres Lot
New
26198 W Spring Grove Road Antioch, IL 60002
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Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12644046
Year Built 1930
Annual Tax Amount $17,672
Tax Year 2025
Lot Size 0.450 Acres
Lot Dimensions 140X187X74X188
Property Sub-Type Multi Family 5+
Property Description
This exceptional 8-unit multifamily property on Channel Lake offers stable in-place income, proven occupancy, and significant embedded upside through below-market rents and irreplaceable direct lakefront frontage. Situated on a quiet street with 140 feet of Lake Catherine shoreline, the asset provides long-term tenancy, conservative rent growth potential, and an attractive basis relative to both current cash flow and the underlying waterfront land value. The property features a thoughtfully configured mix of units: 2 Three-Bedroom units, 2 Two-Bedroom units, 4 One-Bedroom units, including a charming standalone brick cottage A spacious backyard with mature trees creates a serene, picturesque setting for residents to enjoy. Additional income opportunities include pier space available to tenants from May through September for $55 per month. Tenant-Paid Utilities, all tenants are responsible for their own electric. Tenants contribute a set amount toward heat from November through April (the standalone brick cottage is responsible for both heat and electric). This rare lakefront multifamily asset combines reliable cash flow, strong tenant retention, and substantial future appreciation potential in one of Antioch's most desirable waterfront locations. Whether for an investor seeking portfolio stability or growth, this property represents a compelling opportunity in the Chicago-area market. Ideal for serious investors, contact us today for complete financials, rent roll, and a private showing.
Location
State IL
County Lake
Zoning OTHER
Rooms
Basement Unfinished
Interior
Cooling Window Unit(s)
Fireplaces Number 1
Fireplace Y
Exterior
View Y/N true
Roof Type Composition
Building
Foundation Block
Sewer Septic Tank
Water Well
Structure Type Stone,Wood,Vinyl Siding,Stucco
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