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40523 N Il Route 83 5 Unit Apartment Building $525,000 ($105,000/Unit) 8.36% Cap Rate Antioch, IL 60002
Investment Highlights
- Long Term Tenants
- Section 8 Approved Building
Executive Summary
An incredible opportunity for Investors or Owner-Occupants to own a fully occupied 5-Unit Multi-Family Rental Property in Unincorporated Lake County offering both income stability and lifestyle appeal. Set on a beautiful, wooded, and partially fenced lot with full lake rights 60 feet deep, this property combines privacy, convenience, and charm. The units include a 2-bedroom garden apartment with private walkout entrance, a spacious 3-bedroom residence, a 1-bedroom with a private deck, a 2-bedroom with deck, and a large 1-bedroom featuring a fireplace, skylights, and vaulted ceilings. Tenants benefit from an on-site laundry facility, with select apartments offering in-unit laundry for added comfort and convenience. Located just off Route 83, the property offers ample parking, a dog run, and a serene setting surrounded by nature. With strong, long-term tenants and the owner currently occupying one unit, this property delivers steady income, future upside, and potential to increase the below market rents. Building is Section 8 certified. Roof shingled July 2018, Tankless water heater October 2021, Well Pump Feb 2022, Apt 4 Furnace replaced March 2022. Sold AS-IS.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$68,400
|
$15.72
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$68,400
|
$15.72
|
| Taxes |
$14,523
|
$3.34
|
| Operating Expenses |
$9,986
|
$2.30
|
| Total Expenses |
$24,509
|
$5.63
|
| Net Operating Income |
$43,891
|
$10.09
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $68,400 |
| Annual Per SF | $15.72 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $68,400 |
| Annual Per SF | $15.72 |
| Taxes | |
|---|---|
| Annual | $14,523 |
| Annual Per SF | $3.34 |
| Operating Expenses | |
|---|---|
| Annual | $9,986 |
| Annual Per SF | $2.30 |
| Total Expenses | |
|---|---|
| Annual | $24,509 |
| Annual Per SF | $5.63 |
| Net Operating Income | |
|---|---|
| Annual | $43,891 |
| Annual Per SF | $10.09 |
Property Facts
| Price | $525,000 | Apartment Style | Low-Rise |
| Price Per Unit | $105,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.64 AC |
| Cap Rate | 8.36% | Building Size | 4,350 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1840 |
| Price | $525,000 |
| Price Per Unit | $105,000 |
| Sale Type | Investment |
| Cap Rate | 8.36% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 4,350 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1840 |
Amenities
Site Amenities
- Laundry Facilities
- Waterfront
- Individual Leases Available
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 02-20-209-001 | Total Assessment | $176,934 |
| Land Assessment | $10,654 | Annual Taxes | $14,523 ($3.34/SF) |
| Improvements Assessment | $166,280 | Tax Year | 2025 |
Property Taxes
Parcel Number
02-20-209-001
Land Assessment
$10,654
Improvements Assessment
$166,280
Total Assessment
$176,934
Annual Taxes
$14,523 ($3.34/SF)
Tax Year
2025
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Real Properties Realty Group
40523 N Il Route 83
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