515 May Street Waukegan, IL ^$ 239,900

515 May Street

^$ 239,900

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Recently Listed

515 May Street

Waukegan, IL, 60085

^$ 239,900

Bedrooms5 Baths2.1

Monthly Estimate*

^$ 1,497

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515 May Street, Waukegan, IL 60085 - Image 2

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515 May Street, Waukegan, IL 60085 - Image 5

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515 May Street, Waukegan, IL 60085 - Image 7

515 May Street, Waukegan, IL 60085 - Image 8

515 May Street, Waukegan, IL 60085 - Image 9

515 May Street, Waukegan, IL 60085 - Image 10

515 May Street, Waukegan, IL 60085 - Image 11

515 May Street, Waukegan, IL 60085 - Image 12

515 May Street, Waukegan, IL 60085 - Image 13

515 May Street, Waukegan, IL 60085 - Image 14

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Multi-Family Home for sale in Waukegan, IL

for $239,900 with 5 bedrooms and 2 full baths, 1 half bath. This home was built in 1915 on a lot size of 0.11.

Rare Opportunity in Waukegan! This unique two-homes-on-one-lot property, offers outstanding flexibility for investors or owner-occupants. Ideal for those looking to live in one home while renting the other, or for multi-generational living with separate residences on one parcel. The main home is a two-story residence featuring 3 bedrooms and 1.5 bathrooms, a spacious living room, separate dining area, and a full basement, providing excellent storage. The second home offers 2 bedrooms and 1 bathroom and is currently tenant-occupied, offering immediate rental income. A versatile property with long-term potential-perfect for expanding your portfolio or creating a smart living arrangement. Main home has new roof & siding (2025)! Schedule your showing today!

Multi-Family Active

Price

^$ 239,900

Bedrooms

Full Bath

Half Bath

Property Type

Multi-Family

Taxes

^$ 5,700

Style

Lot Size

0.11

Year Built

1915

Town/City

Waukegan

County/Region

Lake

MLS | Web ID

12534517

Features

General

Sewer Public Sewer

Heating Natural Gas

Possession Closing

Roof Asphalt

Zoning MULTI

Construction Materials Aluminum Siding Block

Year Built 1915

Township Waukegan

Tax Year 2024

Ownership Fee Simple

County Lake

New Construction N

Property Type Residential Income Two to Four Units

Other Structures Second Residence

Total Rooms 5

Status New

Directions JACKSON TO MAY STREET TO HOUSE NUMBER 515

City Waukegan

High School District 60

MLS Area Park City / Waukegan

Tax Annual Amount 5700

Standard Status Active

Middle/Junior School District 60

Elementary School District 60

Interior

Basement Unfinished Partial

Total Bedrooms 5

Total Baths 2

Bedrooms Possible 5

Full Baths Building 1

Half Baths Building 1

Total Number of Units 1

Exterior

Parking Features Yes Owned

Water Source Public

Total Parking 4

Lot Dimensions 4922

Lot Size Acres 0.11

Waterfront Y/N N

* Excluded Features

List By

Real Broker, Llc

Broker

katelyngarcell@gmail.com

Affordability Calculator

$1,972

Per Month

Monthly Principal & Interest: $1,497
Monthly Property Taxes: $475
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Waukegan, IL

Average List Price ^$274,152

Percent of Sale Price 14%

About Waukegan, IL

89,653 Population

1% Since 2002

^$47,241 Median Income

33.6 Median Age

41% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

567103 Elementary School

564562 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
12/18/2025	$239,900		Listed Price

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515 May Street, Waukegan, IL, 60085 is a Multi-Family Home for sale at $239,900 with a lot size of 0.11. 515 May Street has 5 bedrooms, 2.1 baths, and was built in 1915. The property's zip code is 60085 which is in Waukegan, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Data is updated as of 12/22/2025.

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515 May Street

Multi-Family Home for sale in Waukegan, IL

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