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$594,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 4,622 Sq. Ft.
  • Updated 1 day ago
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AMAZING, RARE OPPORTUNITY TO OWN A BRICK 6-UNIT BUILDING IN THE HEART OF DOWNTOWN ELGIN! This well-maintained property features six spacious one-bedroom, one-bath units, with several units already updated. The exterior is in excellent condition, with the porch and tuckpointing completed within the last several years, along with newer windows throughout most of the building. Located in a prime downtown location directly across from the police station and just steps from City Hall, the library, The Centre of Elgin, The Hemmens Auditorium, and bus and train stations. Enjoy easy access to all the shopping, dining, and entertainment that downtown Elgin has to offer! Tons of potential for this terrific investment property!

Full Property Details for 120-122 N Spring St

General

  • Price: $594,000
  • HOA FEE: $7,250
  • Taxes: $10,198 (2024)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12589794
  • Updated: 3/16/2026
  • Added to Site: 1 day(s) ago

Interior

  • Basement: Unfinished

Location

  • Area: Elgin
  • County: Kane
  • Township: Elgin
  • Driving Directions: Chicago St. to Spring St. North to Property at the corner of N Spring and Dexter
  • Location Details: In City Limits

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Hot Water, Radiators

Utilities

  • Trash: 1080

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Basement: Yes
  • Basement Desc.: Unfinished, Exterior Entry
  • Stories/Levels: 3
  • Square Feet: 4,622
  • Current Bldg. Use: Multi-Family
  • Year Built: 1920
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 6
  • Units w/Range/Oven: 6

Lot Features

  • Lot Size (Acres): 0.06
  • Lot Size (Sq. Ft.): 2,679
  • Lot Dimensions: 47 x 57
  • Frontage: City Street
  • Potential Use: Multi-Family
  • Zoning: MULTI

Financial Considerations

  • Maint. Fee: $7,250
  • Insurance Fee: $2,400
  • Operating Expenses: $25,448
  • Assessment Year: 1920
  • Tax Amount: $10,198.5
  • Tax Year: 2024
  • Tenant Pays: Electricity, Varies by Tenant
  • Pays Electric: 370
  • Pays Trash: 1080

Disclosures and Reports

  • Property ID: 614279013

Listed by Suburban Life Realty, Ltd

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Listing agent

— 120-122 N Spring St —

  • Suburban Life Realty, Ltd

(847) 309-6939

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Price & Sales History for 120-122 N Spring St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/16/2026
Listed
$594,000
40.43%
MLS
4/21/2022
Sold
$423,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 120-122 N Spring St

Year
Property Taxes
Change
Tax Assessment
Change
2024
$5,348
4%
$66,828
11%
2023
$5,147
17%
$60,374
19%
2022
$4,394
4%
$50,670
7%
2021
$4,226
—
$47,373
5%
2021
$4,226
2%
$45,225
2%
2019
$4,131
-13%
$44,231
-7%
2018
$4,727
2%
$47,812
6%
2017
$4,649
4%
$45,199
8%
2016
$4,472
—
$41,933
9%
2015
$4,457
-7%
$38,435
1%
2014
$4,767
2%
$37,960
-3%
2013
$4,669
—
$38,961
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Suburban Life Realty, Ltd

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120-122 N Spring Street, Elgin, IL 60120 (MLS# 12589794) is a Commercial property. 120-122 N Spring Street is currently listed for $594,000 and was received on March 16, 2026. Want to learn more about 120-122 N Spring Street? Do you have questions about finding other Commercial real estate for sale in Elgin? You can browse all Elgin real estate or contact a Coldwell Banker agent to request more information.

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