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$307,000
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Property Description
**Completely Renovated Riverview 2-Unit Investment Opportunity!** Some work still being completed, please excuse the mess while we finish this extraordinary property for you! This turn-key multifamily property offers the perfect combination of modern updates, strong cash flow, and an unbeatable location along the Fox River in Elgin. Every major component has been renovated, allowing the next owner to enjoy a truly maintenance-friendly investment with nothing left to do but collect rent. The building features a spacious **2-bedroom unit with projected rental income of approximately $1,800 per month** and a well-appointed **1-bedroom unit with projected rental income of approximately $1,500 per month**, providing excellent income potential for both investors and owner-occupants. Both units have been beautifully updated with new finishes throughout, creating bright, modern living spaces that today's tenants are looking for. Additional features include a **full unfinished basement** offering abundant storage and future possibilities, plus an incredible **8-car parking area**-a rare and valuable amenity for a multifamily property. Situated in a desirable riverview setting with convenient access to downtown Elgin, parks, shopping, restaurants, commuter routes, and the scenic Fox River Trail, this property offers the perfect blend of location, lifestyle, and investment potential. Elgin's riverfront and downtown continue to be key attractions for residents seeking outdoor recreation and urban conveniences. **Whether you're expanding your portfolio or looking to reduce your mortgage by living in one unit while renting the other, this fully renovated, move-in-ready property is an exceptional opportunity that won't last long.** Broker Interest
Full Property Details
Full Property Details for 649 Wellington Ave
General
- Sold For: $307,000
- Taxes: $4,468 (2024)
- Status: Closed
- Type: Multi-Family
- Source: MRED
- MLS ID: 12701991
- Added to Site: 103 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 2
Bedrooms
- Total Bedrooms: 3
Parking
- Total Spaces: 8
- Parking Features: Yes, Owned
Location
- Area: Elgin
- County: Kane
- Driving Directions: RAYMOND S TO HASTINGS W TO WELLINGTON
School Information
- School District: 46
- Midd School District: 46
Heating & Cooling
- Heating Type: Natural Gas, Forced Air
Utilities
- Water: Public
Structural Information
- Construction: Other
- Exterior Const.: Other
- Basement Desc.: Unfinished, Cellar, Full, Walk-Out Access
- Foundation: Concrete Perimeter
- Roof: Asphalt
- Year Built: 1880
- Built Before 1978: Yes
- Remodeled/Updated: 2026
Unit Information
- Units in Building: 2
Lot Features
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 45 x 118
- Zoning: MULTI
Financial Considerations
- Assessment Year: 1880
- Tax Amount: $4,468
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 624179013
Listed by New Market Realty Inc
Sold by Smart Home Realty
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Schools
Schools serving 649 Wellington Ave
School District:School District U-46
| Name | Grades | Distance |
|---|---|---|
Huff Elementary School 801 Hastings Street, Elgin, IL 60120 | K-6 | 0.6 mi |
Kenyon Woods Middle School 1515 Raymond Street, South Elgin, IL 60177 | 7-8 | 1.3 mi |
South Elgin High School 760 East Main Street, South Elgin, IL 60177 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 649 Wellington Ave
Date
Details
Price
Change
Source
10/16/2026
Sold
$307,000
-0.94%
MLS
9/01/2026
Price Reduced
$309,900
-1.59%
MLS
8/21/2026
Price Reduced
$314,900
-1.56%
MLS
8/15/2026
Price Reduced
$319,900
-3.03%
MLS
7/29/2026
Price Reduced
$329,900
-2.94%
MLS
7/19/2026
Listed
$339,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
649 Wellington Avenue, Elgin, IL 60120 (MLS# 12701991) is a Multi-Family property that was sold at $307,000 on October 16, 2026. Want to learn more about 649 Wellington Avenue? Do you have questions about finding other Multi-Family real estate for sale in Elgin? You can browse all Elgin real estate or contact a Coldwell Banker agent to request more information.

