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$500,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 2,634 Sq. Ft.
  • Updated 14 hours ago
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We are pleased to offer this 5 unit apartment building. The owners have several long term tenants. The building has a basement and 5 car garage. The roof was new about 2 year ago. Updated railings to apartments 4 & 5 in past few years. #5 was recently remodeled.

Full Property Details for 316 Lawrence Ave

General

  • Price: $500,000
  • HOA FEE: $783
  • Taxes: $8,679 (2025)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12653994

Rental Information

  • Lease/Rent Term: 12 Months, Month To Month

Location

  • Area: Elgin
  • County: Kane
  • Township: Elgin
  • Driving Directions: Rt 31 to Lawrence, West to building

Heating & Cooling

  • Heating Type: Steam

Structural Information

  • Construction: Wood, Frame
  • Exterior Const.: Wood, Frame
  • Roof: Composition
  • Stories/Levels: 2
  • Square Feet: 2,634
  • Current Bldg. Use: Multi-Family
  • Year Built: 1863
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 5
  • Units w/Range/Oven: 5

Lot Features

  • Lot Dimensions: 66 x 132
  • Frontage: City Street
  • Potential Use: Single Family
  • Zoning: MULTI

Financial Considerations

  • Maint. Fee: $783
  • Insurance Fee: $2,794
  • Operating Expenses: $10,541
  • Other Fee: $525
  • Assessment Year: 1863
  • Tax Amount: $8,679
  • Tax Year: 2025
  • Tenant Pays: Air Conditioning, Electricity
  • Pays Electric: 1178

Disclosures and Reports

  • Documents Avail.: Rent Roll, Tenant Lease(s)
  • Property ID: 614133013

Listed by Preferred Homes Realty

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— 316 Lawrence Ave —

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NMLS#: 1598647

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Schools serving 316 Lawrence Ave

School District:School District U-46
NameGradesDistance
Highland Elementary School, Elgin, IL
190 North Melrose Avenue, Elgin, IL 60123
K-60.8 mi
Kimball Middle School
451 North McLean Boulevard, Elgin, IL 60123
7-80.9 mi
Larkin High School
1475 Larkin Avenue, Elgin, IL 60123
9-121.2 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Tax History for 316 Lawrence Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$8,679
4%
$108,452
11%
2023
$8,352
8%
$97,978
10%
2022
$7,747
4%
$89,339
7%
2021
$7,452
—
$83,526
5%
2021
$7,452
5%
$79,739
5%
2019
$7,094
2%
$75,956
12%
2017
$6,958
4%
$67,645
8%
2016
$6,693
—
$62,756
9%
2015
$6,670
-7%
$57,522
1%
2014
$7,135
1%
$56,812
-21%
2018
$7,074
19%
$71,555
23%
2013
$5,940
—
$58,311
—
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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316 Lawrence Avenue, Elgin, IL 60123 (MLS# 12653994) is a Commercial property. 316 Lawrence Avenue is currently listed for $500,000 and was received on May 28, 2026. Want to learn more about 316 Lawrence Avenue? 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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