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Kevin Williams of HomeSmart Connect

472 N Spring St, Elgin, IL 60120

  • $420,000

  • 6

    bed

  • 2

    bath

Multi-family active under contract
Movoto is helping 50 homebuyers near you

About 472 N Spring St

Property type Multi-family
Neighborhood
HOA fee $0/month
Lot size 8,712 Sqft
Parking 2 garage spaces
Property description
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.
Listed by
Listing Agent - Kevin Williams
Listing Office - HomeSmart Connect
Source: MRED mls logo
MLS#12704270 • last updated 2 weeks ago
Movoto checked MRED for data 9 minutes ago
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Overview
MLS # 12704270
Virtual Tour N/A
SubType 2 Flat
Status Contingent
Type Two To Four Units
Lot Size (Acres) 0.2
Property Tax $ 7406
Interior
Total # of Rooms 10
Exterior
Foundation Concrete Perimeter
Roof Asphalt
Construction Other
# Garage Spaces 2
Lot Desc Less Than 0.25 Acre
Amenities / Utilities
Sewer/ Septic Desc Public Sewer
Water Source Public
# Units in Building 2
Location
Area Elgin
County Kane
Elementary School District 46
Middle School District 46
High School District 46
APN 611484006
Directions 31 To Kimball East To Spring North To Home
Multifamily Details
Expense: Insurance 1584
Net Operating Income 32890
Gross Income 44880
Expense: Water/ Sewer 3000
Misc Income Coin Laundry
Total Rental Income 42480
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3/10
Mckinley Elementary School
public Grades K-6
School District U-46
2/10
Larsen Middle School
public Grades 7-8
School District U-46
3/10
Elgin High School
public Grades 9-12
School District U-46
Source: GreatSchools.org © 2026. All rights reserved.

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  • Real Estate
  • IL
  • Kane County
  • Elgin
  • 60120
  • Northeast Elgin
  • 472 N Spring St

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