741 Elgin Street Cherry Valley, IL $ 475,000
741 Elgin Street
$ 475,000
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741 Elgin Street

Cherry Valley, IL, 61016
$ 475,000
Bedrooms3 Baths0.0

Monthly Estimate*

$ 2,925

741 Elgin Street, Cherry Valley, IL 61016 - Image 1
741 Elgin Street, Cherry Valley, IL 61016 - Image 2
741 Elgin Street, Cherry Valley, IL 61016 - Image 3
741 Elgin Street, Cherry Valley, IL 61016 - Image 4
741 Elgin Street, Cherry Valley, IL 61016 - Image 5
741 Elgin Street, Cherry Valley, IL 61016 - Image 6
741 Elgin Street, Cherry Valley, IL 61016 - Image 7
741 Elgin Street, Cherry Valley, IL 61016 - Image 8
741 Elgin Street, Cherry Valley, IL 61016 - Image 9
741 Elgin Street, Cherry Valley, IL 61016 - Image 10
741 Elgin Street, Cherry Valley, IL 61016 - Image 11
741 Elgin Street, Cherry Valley, IL 61016 - Image 12
741 Elgin Street, Cherry Valley, IL 61016 - Image 13
741 Elgin Street, Cherry Valley, IL 61016 - Image 14

Multi-Family Home for sale in Cherry Valley, IL

for $475,000 with 3 bedrooms. This home was built in 1960 on a lot size of 0.34.

Excellent investment opportunity with this 6-unit multifamily property featuring a strong rental history and solid long-term tenants in place. The building includes a mix of 4 one-bedroom units and 2 two-bedroom units, currently generating approximately $4,500 in total monthly rent with potential for future rent increases. Several units have seen recent updates, including new vinyl flooring and carpeting in 4 of the units within the last 1-3 years, while the remaining units offer hardwood and older finishes. Bathrooms have had updated fixtures and replaced toilets, and all units remain functional and well-maintained. The property offers separate entrances for most units, off-street parking, and a basement area with utility meters and additional storage. All units are electric with baseboard heat, and the building has no known electrical, plumbing, or foundation issues. A great opportunity for investors seeking stable cash flow with upside potential.

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Multi-Family Active

Price

$ 475,000

Bedrooms

3

Property Type

Multi-Family

Taxes

$ 6,695

Style

Lot Size

0.34

Year Built

1960

Town/City

Cherry Valley

County/Region

Winnebago

MLS | Web ID

12571125

Features
General
Zoning MULTI
Year Built 1960
Stories Count 2
Tax Year 2024
Gross Income 53760
County Winnebago
Net Operating Income 43345
Operating Expense 10415
Insurance Expense 3420
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 0
Status Active
Directions From I-90 (Jane Addams Memorial Tollway) take the exit for US-20/State Street toward Rockford. Continue west then take the exit for Cherry Valley Road and head south into the Village of Cherry Valley
City Cherry Valley
Number Of Units Total 6
MLS Area Cherry Valley / Irene
Tax Annual Amount 6695
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N N
Standard Status Active
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Exterior
Lot Dimensions 14810
Lot Size Acres 0.34
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* Excluded Features
List By
Ejc Real Estate Services

Broker

krystal@reviveregroup.com

Email

Affordability Calculator

$3,483
Per Month
84%
16%
0%
Monthly Principal & Interest
$2,925
Monthly Property Taxes
$558
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/17/2026$475,000 Listed Price

Map


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741 Elgin Street, Cherry Valley, IL, 61016 is a Multi-Family Home for sale at $475,000 with a lot size of 0.34. 741 Elgin Street has 3 bedrooms, 0.0 baths, and was built in 1960. The property's zip code is 61016 which is in Cherry Valley, IL