316 Lawrence Avenue Elgin, IL ^$ 500,000

316 Lawrence Avenue

^$ 500,000

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Recently Listed

316 Lawrence Avenue

Elgin, IL, 60123

^$ 500,000

Bedrooms1 Baths0.0 Sq 2,634

Monthly Estimate*

^$ 3,079

316 Lawrence Avenue, Elgin, IL 60123 - Image 1

316 Lawrence Avenue, Elgin, IL 60123 - Image 2

316 Lawrence Avenue, Elgin, IL 60123 - Image 3

316 Lawrence Avenue, Elgin, IL 60123 - Image 4

316 Lawrence Avenue, Elgin, IL 60123 - Image 5

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316 Lawrence Avenue, Elgin, IL 60123 - Image 7

316 Lawrence Avenue, Elgin, IL 60123 - Image 8

Multi-Family Home for sale in Elgin, IL

for $500,000 with 1 bedroom. This 2,634 square foot home was built in 1863.

We are pleased to offer this 5 unit apartment building. The owners have several long term tenants. The building has a basement and 5 car garage. The roof was new about 2 year ago. Updated railings to apartments 4 & 5 in past few years. #5 was recently remodeled.

Multi-Family Active

Price

^$ 500,000

Bedrooms

Property Type

Multi-Family

Taxes

^$ 8,679

Style

Multi-Family

Year Built

1863

Town/City

Elgin

County/Region

Kane

MLS | Web ID

12653994

Features

General

Possession Closing Tenant's Rights

Roof Composition

Zoning MULTI

Construction Materials Wood Frame

Year Built 1863

Electric Separate Meters

Tenant Pays Air Conditioning Electricity

Stories Count 2

Township Elgin

Tax Year 2025

Current Use Multi-Family

Gross Income 49500

County Kane

Net Operating Income 30280

Operating Expense 10541

Insurance Expense 2794

Property Type Commercial Sale Multi Family 5+

MaintenanceExpense 783

Possible Use Single Family

Status New

Directions Rt 31 to Lawrence West to building

City Elgin

Number Of Units Total 5

MLS Area Elgin

Tax Annual Amount 8679

Electric Expense 1178

Fuel Expense 2561

Trash Expense 0

Water Sewer Expense 3225

Ok to Lease 12 Months Month To Month

Additional Parcels Y/N N

Standard Status Active

Cap Rate 6

Interior

Total Fireplaces 0

Exterior

Building Area Total 2634

Lot Dimensions 66x132

Frontage Type City Street

* Excluded Features

List By

Preferred Homes Realty

Broker

jeff@preferredhomesrealty.com

Affordability Calculator

$3,802

Per Month

Monthly Principal & Interest: $3,079
Monthly Property Taxes: $723
Monthly Home Insurance: --

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Yearly 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

Trends
Schools

Multi-family listings in Elgin, IL

Average List Price ^$395,671

Percent of Sale Price 21%

About Elgin, IL

114,155 Population

21% Since 2002

^$61,828 Median Income

35.71 Median Age

38% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

565567 Elementary School

567955 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/28/2026	$500,000		Listed Price

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316 Lawrence Avenue, Elgin, IL, 60123 is a Multi-Family Home for sale at $500,000 with 2,634 sqft. 316 Lawrence Avenue has 1 bedrooms, 0.0 baths, and was built in 1863. The property's zip code is 60123 which is in Elgin, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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.

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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Data is updated as of 5/29/2026.

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316 Lawrence Avenue

Multi-Family Home for sale in Elgin, IL

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