Great Turnkey Investment Opportunity located in historic district just north of rapidly developing downtown Elgin. Remodel in 2020 included 2 new eat-in kitchens with granite countertops & new appliances, new bathrooms, all new gas forced-air HVAC system with new central air conditioning units, furnaces, and hot water heaters. New roof on house & garage along with all copper pipes replacing old galvanized also in 2020. Large 2-story detached 1200sf garage currently used for owner's storage is potential 3rd unit coach house development or can be rented to tenants now for indoor parking income. Separately metered gas & electric. Coin-operated commercial washer & dryer in basement shared by both units provides extra income. Second floor tenants maintain lawn and bushes and are responsible for snow removal in exchange for $60/month reduction in rent which is reflected in adjusted Unit 2 current lease amount of $1,640/month. Both apartments are currently leased - start out with strong cash flow right away. Photos are from when both units were vacant prior to tenant occupancy.
Spring-Douglas Historic District, located between Downtown Elgin and the Fox River, is a historic and residential Elgin neighborhood with Victorian-era streetscapes and a walkable, porch-lined atmosphere. The neighborhood’s character concentrates around the Spring Street and Douglas Avenue corridor, where brick sidewalks, mature trees, and landmark homes set a measured, architectural pace. Queen Anne, Italianate, and Prairie-influenced houses mix with restored details and deep setbacks that shape the street rhythm. Lords Park and its museum campus add green space and a cultural counterpoint to the residential blocks. The Hemmens Cultural Center and Elgin History Museum anchor local arts and heritage nearby. Side streets lead toward riverfront paths and downtown storefronts for a compact, urban-meets-garden feel.
Provided by Walk Score and Local Logic
Market insights
472 N Spring St · $420,000
SALE-TO-LIST
101.8%
Most homes are selling 2% above list price.
LIST PRICE
$420,000
Median sale price in this area is $472,495. (12% higher than this home)
PRICE DROP
0 price drops
11% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
10 total rooms
Unfinished full basement
TV-Cable
Sump pump
Multiple water heaters
Gas water heater
Bedrooms
6 bedrooms total
Bathrooms
2 full bathrooms
Kitchen
Stove
Refrigerator
Laundry & utility
Multiple water heaters
Sump pump
Flooring
Hardwood floors
Heating & cooling
Natural gas heating
Forced air
Central air conditioning
Exterior features
School bus service available
Commuter bus and commuter train access
Located in a historical district
Lot dimensions 133 x 67 x 133 x 66
Home design
Two- to four-unit building
Fee simple ownership
Rehab completed in 2020
Over 100 years old
Built before 1978
Parking
Detached garage (owned)
Driveway
Total of 4 parking spaces
2 garage spaces
Construction
Asphalt roof
Concrete perimeter foundation
Other construction materials
Utilities
Public water
Public sewer
Financial info
Gross income reported: $44,880
Water & sewer expense: $3,000 (actual)
Insurance expense: $1,584
Other
Holds earnest money
Possession at closing
Electricity and solar
View estimated energy costs and solar savings for this home
Every brilliant diamond starts off as a lump of coal, and investors. .. here's your lump of coal! Unit 1 has a bedroom, office, family room, dining room 1 full bathroom and kitchen. Unit 2 has 3 bedrooms, a family room, kitchen and 1 full bathroom. Detached 2 car garage will full walk in attic is at the rear of the property. Basement has a bathroom and shower. This property has great income potential. This home may also be reconverted to it's original single family home. It's located in the historic district. Motivated seller, make an offer! All offers will be considered.
MRED as Distributed by MLS Grid #10409566
Aug 10, 2019
Listing Removed
—
Aug 4, 2019
Price Changed
*
Aug 4, 2019
Relisted (Reactivated)
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Jul 26, 2019
Listing Removed
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Jul 8, 2019
Price Changed
*
Jun 19, 2019
Price Changed
*
Jun 15, 2019
Listed (New)
*
Year
Property tax
Land + Additions
Assessment*
2025
$7,406 (+3.5%)
$16,822 + $80,253
$97,075
2024
$7,156 (+3.9%)
$16,822 + $80,253
$97,075
2023
$6,886 (+16.6%)
$15,494 + $73,918
$89,412
2022
$5,907 (+4.0%)
$13,998 + $66,779
$80,777
2021
$5,682 (+2.5%)
$12,764 + $55,355
$68,119
2020
$5,545 (+14.4%)
$11,933 + $51,753
$63,686
2019
$4,849 (+1.0%)
$10,852 + $47,062
$57,914
2018
$4,801 (+2.4%)
$10,852 + $47,062
$57,914
2017
$4,688 (+5.0%)
$10,223 + $44,335
$54,558
2016
$4,463 (+1.7%)
$9,664 + $41,912
$51,576
2015
$4,390 (−3.0%)
$8,966 + $38,883
$47,849
2013
$4,528 (−19.3%)
$8,331 + $36,129
$44,460
2012
$5,612 (+7.1%)
$8,331 + $36,129
$44,460
2011
$5,240 (−4.6%)
$8,999 + $45,912
$54,911
2010
$5,492 (+3.6%)
$11,150 + $51,615
$62,765
2009
$5,301 (+5.8%)
$11,150 + $51,615
$62,765
2008
$5,008 (+1.2%)
$11,953 + $55,333
$67,286
2007
$4,949
$11,569 + $53,555
$65,124
Public record
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
8,805 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Single Family Residential
County
Kane County
APN
0611484006
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
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Last updated by owner on Aug 24, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 102° expected this year, 14 days in 30 years
2/10 Wind Factor
0% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Elgin, IL • 60120
Average low and high temperatures (°F)
28
13
37
20
54
33
62
42
70
47
81
61
85
67
82
62
79
56
67
47
49
36
35
21
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
86/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.5 hrs
4.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 472 N Spring St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $356,000 and $459,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $356K to $459K.