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117 Nippersink Rd 5 Unit Apartment Building $550,000 ($110,000/Unit) Fox Lake, IL 60020
Executive Summary
117 Nippersink Rd is a fully furnished 5-unit lakefront rental property positioned on the shores of Nippersink Lake, part of the Chain O’ Lakes in northern Illinois. The property operates with a flexible hybrid rental strategy, utilizing mid-term monthly tenants from approximately September through April and dynamic peak-season lakefront guest stays during the warmer boating season. This structure allows ownership to capture stable off-season income while preserving upside during Fox Lake’s high-demand summer season.
The property includes five updated units, each with private entrance, open-concept layout, modern kitchen, and updated bath finishes. The unit mix consists of three spacious 2-bedroom units and two 1-bedroom units, all offered fully furnished for a plug-and-play investment. Outdoor seating areas, lake views, nearby boating, fishing, dining, downtown Fox Lake, Metra access, and the new lakefront park all contribute to strong rental appeal.
Updated Investment Highlights for 117
5-unit fully furnished lakefront rental property
Approx. 3,608 SF
Flexible hybrid rental model
Mid-term monthly tenants from approximately September–April
Dynamic peak-season guest rental income during summer months
Owner-provided 2025 gross income of approximately $113,594
Owner-provided 2025 NOI before debt service of approximately $83,924
Three 2-bedroom units and two 1-bedroom units
Private entrances, updated kitchens, and updated baths
Utilities paid by mid-term tenants during off-season occupancy
Direct lakefront setting near boating, fishing, downtown Fox Lake, Metra, and new lakefront park
The property includes five updated units, each with private entrance, open-concept layout, modern kitchen, and updated bath finishes. The unit mix consists of three spacious 2-bedroom units and two 1-bedroom units, all offered fully furnished for a plug-and-play investment. Outdoor seating areas, lake views, nearby boating, fishing, dining, downtown Fox Lake, Metra access, and the new lakefront park all contribute to strong rental appeal.
Updated Investment Highlights for 117
5-unit fully furnished lakefront rental property
Approx. 3,608 SF
Flexible hybrid rental model
Mid-term monthly tenants from approximately September–April
Dynamic peak-season guest rental income during summer months
Owner-provided 2025 gross income of approximately $113,594
Owner-provided 2025 NOI before debt service of approximately $83,924
Three 2-bedroom units and two 1-bedroom units
Private entrances, updated kitchens, and updated baths
Utilities paid by mid-term tenants during off-season occupancy
Direct lakefront setting near boating, fishing, downtown Fox Lake, Metra, and new lakefront park
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $110,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| No. Units | 5 | Building Size | 3,728 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1945 |
| Zoning | b-4 | ||
| Price | $550,000 |
| Price Per Unit | $110,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 3,728 SF |
| No. Stories | 2 |
| Year Built | 1945 |
| Zoning | b-4 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 2 | - | - |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Good public transit
60/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 05-04-402-048 | Improvements Assessment | $129,952 |
| Land Assessment | $49,850 | Total Assessment | $179,802 |
Property Taxes
Parcel Number
05-04-402-048
Land Assessment
$49,850
Improvements Assessment
$129,952
Total Assessment
$179,802
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117 Nippersink Rd
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