1542 Victoria Avenue
North Chicago, IL, 60064 $ 1,289,900
Bedrooms16 Baths0.0 Monthly Estimate*
$ 8,047
for $1,289,900 with 16 bedrooms. This home was built in 1910 on a lot size of 0.21.
Turnkey 6-Unit Multifamily Property with Over 9% Cap Rate - Fully Renovated Exceptional investment opportunity featuring a fully renovated six-unit multifamily building offering a strong 9% cap rate and no deferred maintenance. This property has been professionally rebuilt from the studs up, with all work completed under full architectural and structural engineering plans. Each of the six units has been completely updated to modern standards, including new mechanical systems and high-quality finishes throughout. Property Highlights: Plumbing: All new drain and copper water lines plus two new 50-gallon water heaters (2024). Electrical: New conduit, wiring, and individual metering; updated service panels and circuit breakers in each unit. HVAC: Six new gas furnaces, A/C units, ductwork, thermostats, and seven new gas meters. Exterior: New roof, gutters, fascia, soffits, and energy-efficient windows. Interiors: New kitchens with stainless steel appliances, granite countertops, modern cabinetry, and LVP flooring. Bathrooms: Updated with new tubs, vanities, toilets, and custom tilework. Smart Features: Smart lock system with remote access control for owners and tenants. Laundry: New commercial-grade, stacked card-reader washer/dryer. Infrastructure: New sewer main cleanout. Lighting: LED lighting throughout. Additional features include 10 parking spaces (8 in the rear and 2 via private driveway for Unit 1), street parking, and updated common areas. This property offers reliable income, modern systems, and strong long-term investment potential. Private showings available by appointment. Listing Broker has ownership interest in the property.
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FeaturesGeneralCooling Central Individual
Possession Closing
Roof Composition
Zoning MULTI
Association Fee Includes None
Construction Materials Vinyl Siding
Year Built 1910
Electric Separate Meters
Tenant Pays Electricity Heat Other
Stories Count 3
Township Waukegan
Tax Year 2024
Gross Income 142440
County Lake
Net Operating Income 123063
Operating Expense 21837
Insurance Expense 6400
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 0
Status Active
Directions SHERIDAN ROAD TO 16TH STREET WEST TO VICTORIA.
City North Chicago
Number Of Units Total 6
MLS Area North Chicago
Lot Size Square Feet 9495
Tax Annual Amount 10257
Electric Expense 420
Fuel Expense 576
Trash Expense 1044
Water Sewer Expense 1140
Additional Parcels Y/N N
Standard Status Active
Cap Rate 9.54
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InteriorBasement Unfinished
Total Fireplaces 0
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ExteriorFoundation Details Concrete Perimeter
Lot Dimensions 126.6X75
Lot Size Acres 0.21
Frontage Type City Street
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* Excluded FeaturesList Bybaseltarabein@remax.net;BaselTarabein@remax.netEmail
Affordability Calculator
- Monthly Principal & Interest
- $8,047
- Monthly Property Taxes
- $855
- Monthly 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.
Learn more about how to save NearbyMulti-family listings in North Chicago, IL
Average List Price $449,100
Percent of Sale Price 65%
About North Chicago, IL 31,987 Population
-10% Since 2002
$ 43,943 Median Income
23.7 Median Age
35% Households with Children
Trends Information provided by ATTOM Data Solutions.
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/9/2025 | $1,289,900 | -3.70% | Price Down |
| 7/16/2025 | $1,339,500 | -4.31% | Price Down |
| 5/6/2025 | $1,399,900 | | Listed Price |