This 2-unit property presents a fantastic investment opportunity. With the same tenants happily residing for 2 years and eager to stay, the property offers steady rental income. Recent improvements include updated plumbing in 2024, ensuring modern sewer piping. Both units feature new appliances, including refrigerators, water heaters, and stoves, and were remodeled prior to the current tenants' move-in. Tenants pay their own gas and electric, while the owner covers the water bill. Each unit also comes with a detached garage, providing added value. With these updates and reliable tenants, this property is a great long-term investment.
Closed
$255,000
167 Cherry St, Elgin, IL 60120
4beds
--sqft
Multi Family
Built in 1865
-- sqft lot
$259,400 Zestimate®
$--/sqft
$2,425 Estimated rent
Home value
$259,400
$236,000 - $285,000
$2,425/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: May 14, 2025 at 01:37am
Listing courtesy of:
Maria Tamayo, ABR,SRES,SRS 224-659-4676,
Luna Real Estate Inc.,
Diana Gonzalez 224-775-7226,
Luna Real Estate Inc.
Bought with:
Adalberto Sanchez-Arias
A&O Dream Key Real Estate
Source: MRED as distributed by MLS GRID,MLS#: 12307747
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Natural Gas
Features
- Basement: Finished,Full
Property
Parking
- Total spaces: 2
- Parking features: On Site, Garage Owned, Detached, Garage
- Garage spaces: 2
Lot
- Size: 6,110 sqft
- Dimensions: 47 X 130
Details
- Parcel number: 0614229006
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other
Condition
- New construction: No
- Year built: 1865
- Major remodel year: 2000
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Elgin
Other
Other facts
- Listing terms: Cash
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 5/12/2025 | Sold | $255,000-5.6% |
Source:  MRED as distributed by MLS GRID #12307747 | ||
| 5/7/2025 | Contingent | $270,000 |
Source: MRED as distributed by MLS GRID #12307747 | ||
| 4/15/2025 | Price change | $270,000-3.6% |
Source: MRED as distributed by MLS GRID #12307747 | ||
| 3/12/2025 | Listed for sale | $280,000+55.6% |
Source: MRED as distributed by MLS GRID #12307747 | ||
| 3/17/2023 | Sold | $180,000-5.3% |
Source: MRED as distributed by MLS GRID #11679481 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,432 -9.2% | $63,381 +10.7% |
| 2023 | $4,881 +16.9% | $57,260 +18.9% |
| 2022 | $4,176 +4% | $48,157 +7% |
Find assessor info on the county website
Neighborhood: Northeastern Elgin
Nearby schools
GreatSchools rating
- 2/10Mckinley Elementary SchoolGrades: K-6Distance: 0.5 mi
- 2/10Larsen Middle SchoolGrades: 7-8Distance: 0.6 mi
- 2/10Elgin High SchoolGrades: 9-12Distance: 2.3 mi
Schools provided by the listing agent
- District: 46
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$259,400
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$264,588