Great Investment Opportunity! 13+ CAP rate with very low vacancy history. 2 separate buildings located in both the Illinois Opportunity Zone and Illinois Enterprise Zone totaling 14 units with rear parking lot accessible by side drive and alley close to downtown, restaurants, Metra station, and lakefront. 1st Building (210 Belvidere) Four - 1 bedroom units fully updated in 2012. All electric w/ individual electric meters and HVAC wall units. 2nd Building (214 Belvidere) 10 units with 8 large studios and two 1-bedroom units. Centrally heated by boiler (replaced in 2015) 24 hour notice for all showings.
Multi-familyProperty Type
1935Year Built
0.33 acresLot Size
14 spacesParking
Listed by Steve Snarski• @properties Christie's International Real Estate
Listed by Marty Golden• @properties Christie�s International Real Estate
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Permits
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
0.36 Acres
Year renovated
1955
Sq. Ft.
3,080
Year built
1955
Style
Multi-Family (5+ Unit)
County
Lake County
APN
08-28-204-016
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 15, 2026.
Aug 18, 2025 • Final
Hvac
Replace a Mitsubishi split heating and cooling system for supplemental heating.
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
# of Parking Spaces: 14
13-18 Outdoor Parking Spaces
Interior
Equipment
Fire Protection: Fire Extinguisher(s), Smoke/Fire Protectors
# of Refrigerators: 14
# of Ranges: 14
Heating & Cooling
Central Building Heating, Wall Unit Heating
Wall Sleeve Air Conditioning
Multi-Family Information
# of Units: 14
Tenants Pay Varying Costs
Unit 1 Information
# of Units of Type: 6
# of Rooms: 4
# of Beds: 1
# of Baths: 1
Monthly Income: $630
Maximum Monthly Income: $700
Unit 2 Information
# of Units of Type: 8
# of Rooms: 3
# of Baths: 1
Monthly Income: $550
Maximum Monthly Income: $675
Exterior
Building Information
Built Before 1978
Age: 51+ Years
Aluminum Siding
Lot Information
Sq. Ft.: 14495
Dimensions: 105X132X72X83
Enterprise Zone
Zoning: MULTI
Property Information
Parcel Identification Number: 08282040150000
Multiple PINs
Financial
Financial Information
Tax: $14,662
Tax Year: 2018
Total Monthly Income: $8,046
Total Annual Income: $96,560
Gross Rental Income: $96,560
Net Operating Income: $61,728
Cap Rate: 13
Finance Code: Cash
Utilities
Utility Information
Circuit Breakers, Fuses
Location
Location Information
Township: Waukegan
Directions: Sheridan Rd and Belvidere Rd West to 210 Belvidere
Public facts
Beds: —
Baths: —
Sq. Ft.: 3,080
Stories: —
Lot Size: 0.36 acres
Style: Multi-Family (5+ Unit)
Year Built: 1955
Year Renovated: 1955
County: Lake County
APN: 08-28-204-016
Home facts updated by county records on Jul 15, 2026
Other
Expense Information
Total Annual: $35,591
Electricity: $5,496
Listing Information
Possession: Closing
Seller Concessions: No
Around this home
Schools
North Elementary School
Public PreK-5 • Assigned • 0.9mi
2/10
Robert E Abbott Middle School
Public 6-8 • Assigned • 0.8mi
3/10
Waukegan High School
Public 9-12 • Assigned • 0.7mi
1/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
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
2/10 Heat Factor
7 days above 97° expected this year, 14 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Waukegan, IL • 60085
Average low and high temperatures (°F)
28
15
36
21
52
32
58
42
64
49
77
62
80
68
78
65
74
59
65
50
49
38
35
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 10.2 hours in
June and 3.3 hours in December, placing it below the
U.S. average for solar exposure.