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$749,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 2,880 Sq. Ft.
  • Updated 10 hours ago
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Excellent opportunity to acquire a fully occupied 8-unit multi-family investment property in the heart of Elgin! This income-producing building offers a compelling combination of current occupancy, recent capital improvements, and future value-add potential. Six of the eight units have been updated since September 2023, while Units #2 and #4 remain available for future improvements and potential rent enhancement. Major recent upgrades include a tear-off roof completed in 2024 and a water heater installed in 2022. The building is heated by a boiler, and each unit has its own window A/C unit. All 8 units are currently rented, allowing an investor to step into an established property with rental income already in place. Ideally located near restaurants, convenience stores, business offices, and established single-family neighborhoods, the property offers strong accessibility and a desirable central Elgin location. Whether you are looking to expand an existing portfolio or acquire a multi-unit property with additional upside, this 8-unit building presents an rare investment opportunity. Property is being sold AS-IS.

Full Property Details for 809 South St

General

  • Price: $749,000
  • HOA FEE: $26,847
  • Taxes: $13,843 (2025)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12741183

Interior

  • Basement: None

Location

  • Area: Elgin
  • County: Cook
  • Township: Hanover
  • Driving Directions: Lillian Street East to South Street to Walnut Avenue to Wilcox Avenue North to South Street (one-way) West to building on South side of street.
  • Location Details: In City Limits

Community

  • Assoc. Fees Include: None

Heating & Cooling

  • Cooling Type: Window Unit(s)
  • Heating Type: Gas, Hot Water

Utilities

  • Trash: 3336

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Basement Desc.: None
  • Foundation: Concrete Perimeter
  • Roof: Composition
  • Stories/Levels: 2
  • Square Feet: 2,880
  • Current Bldg. Use: Multi-Family
  • Year Built: 1956
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 8
  • Units w/Range/Oven: 8

Lot Features

  • Lot Size (Acres): 0.14
  • Lot Size (Sq. Ft.): 87,120
  • Lot Dimensions: 125 x 54 x 95 x 62
  • Zoning: MULTI

Financial Considerations

  • Maint. Fee: $26,847
  • Insurance Fee: $5,412
  • Operating Expenses: $37,440
  • Other Fee: $1,667
  • Assessment Year: 1956
  • Tax Amount: $13,843
  • Tax Year: 2025
  • Tenant Pays: Electricity, Other
  • Pays Electric: 701
  • Pays Trash: 3336

Disclosures and Reports

  • Documents Avail.: Rent Roll, Operating Statement
  • Property ID: 6231020030000

Listed by HomeSmart Connect

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— 809 South St —

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NMLS#: 1598647

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NMLS#: 1598647

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

Schools serving 809 South St

School District:School District U-46
NameGradesDistance
Washington Elementary School, Elgin, IL
819 West Chicago Street, Elgin, IL 60123
K-60.3 mi
Abbott Middle School, Elgin, IL
949 Van Street, Elgin, IL 60123
7-80.3 mi
Larkin High School
1475 Larkin Avenue, Elgin, IL 60123
9-120.8 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 809 South St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$13,843
—
$181,446
9%
2025
$13,843
8%
$167,124
11%
2023
$12,871
8%
$150,984
10%
2022
$11,938
4%
$137,671
7%
2021
$11,483
—
$128,713
5%
2021
$11,483
5%
$122,877
5%
2019
$10,932
-4%
$117,048
6%
2017
$11,406
4%
$110,895
8%
2016
$10,972
—
$102,881
9%
2015
$10,935
—
$94,300
-14%
2018
$10,902
-7%
$110,266
18%
2014
$11,697
20%
$93,136
-3%
2013
$9,737
—
$95,593
—
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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809 South Street, Elgin, IL 60123 (MLS# 12741183) is a Commercial property. 809 South Street is currently listed for $749,000 and was received on October 12, 2026. Want to learn more about 809 South 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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