A
Seller's Agent in 2025
Andy Walton
The McDonald Group
1 in this area
52 Total Sales
262 N Spring St Elgin, IL 60120
Northeast Elgin NeighborhoodEstimated Value: $396,000 - $606,000
11
Beds
4
Baths
--
Sq Ft
8,712
Sq Ft Lot
Highlights
- American Four Square Architecture
- Guest Parking
- Forced Air Heating System
About This Home
As of November 2025Excellent Investment Opportunity - Fully Leased 4-Unit Building in Prime Elgin Location! Spacious and well-maintained, this fully occupied multi-unit property is an ideal addition to any investor's portfolio. All four units are currently leased, generating immediate rental income. Three of the units feature updated kitchens and bathrooms, providing modern comfort for tenants. Recent mechanical and structural updates offer peace of mind: TWO NEW FURNACE UNITS installed in October 2024, Two hot water heaters - 40-gallon (installed Dec 2022) & 50-gallon (installed Dec 2011). Building exterior painted, plus new gutters and downspouts (2021) and driveway/parking lot sealed (2025). The property includes two separate basement areas: One basement provides community storage for tenants and houses a coin-operated laundry (1 washer & 1 dryer) and the second basement is secured for landlord use, perfect for storage or a workshop. Ample off-street parking with 11 total spaces, 2 reserved per unit and 3 visitor spots. Conveniently located within walking distance to Gail Borden Library, Hemmens Cultural Center, Elgin Recreation Center, the scenic Fox River, and all the vibrant offerings of Downtown Elgin. Don't miss out on this great investment opportunity!
Last Agent to Sell the Property
HomeSmart Connect License #475191288 Listed on: 08/01/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,312
Year Built
- Built in 1920
Lot Details
- 8,712 Sq Ft Lot
- Lot Dimensions are 132 x 67
Home Design
- American Four Square Architecture
- Frame Construction
- Asphalt Roof
- Concrete Perimeter Foundation
- Stucco
Bedrooms and Bathrooms
- 11 Bedrooms
- 11 Potential Bedrooms
- 4 Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
Parking
- 11 Parking Spaces
- Parking Available
- Guest Parking
- Parking Lot
- Parking Included in Price
- Assigned Parking
- Unassigned Parking
Schools
- Ronald D O'neal Elementary Schoo
- Kimball Middle School
- Larkin High School
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Gas Water Heater
Community Details
- 4 Units
- Insurance Expense $8,419
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 1, 2025
Closed on
Oct 27, 2025
Sold by
Bought by
Seller's Agent
Andy Walton
HomeSmart Connect
Buyer's Agent
Andy Walton
HomeSmart Connect
List Price
$595,000
Sold Price
$575,000
Premium/Discount to List
-$20,000
-3.36%
Views
82
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$33,541
Avg. Annual Appreciation
-10.01%
Original Mortgage
$431,250
Interest Rate
7.38%
Mortgage Type
New Conventional
Purchase Details
Closed on
Oct 29, 2008
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
6.09%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Sep 19, 2005
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$352,000
Interest Rate
6.48%
Mortgage Type
Fannie Mae Freddie Mac
Purchase Details
Closed on
Oct 10, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$152,652
Interest Rate
6.1%
Purchase Details
Closed on
Sep 3, 1996
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,084
Interest Rate
8%
Mortgage Type
FHA
Purchase Details
Closed on
Aug 27, 1996
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,084
Interest Rate
8%
Mortgage Type
FHA
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $575,000 | First American Title | ||
| $250,000 | Ticor Title Insurance Co | ||
| $440,000 | Multiple | ||
| -- | First American Title Ins Co | ||
| $106,500 | -- | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $431,250 | ||
| Previous Owner | $200,000 | ||
| Previous Owner | $352,000 | ||
| Previous Owner | $152,652 | ||
| Previous Owner | $106,084 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/24/2025 11/24/25 | Sold | $575,000 | -3.4% | -- |
| 08/11/2025 08/11/25 | Pending | -- | -- | -- |
| 08/01/2025 08/01/25 | For Sale | $595,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $8,312 | $103,861 | $16,747 | $87,114 |
| 2023 | $7,999 | $93,831 | $15,130 | $78,701 |
| 2022 | $6,853 | $79,034 | $13,796 | $65,238 |
| 2021 | $6,592 | $73,891 | $12,898 | $60,993 |
| 2020 | $6,434 | $70,540 | $12,313 | $58,227 |
| 2019 | $6,276 | $67,194 | $11,729 | $55,465 |
| 2018 | $6,258 | $63,301 | $11,049 | $52,252 |
| 2017 | $6,155 | $59,842 | $10,445 | $49,397 |
| 2016 | $5,921 | $55,517 | $9,690 | $45,827 |
| 2015 | -- | $50,887 | $8,882 | $42,005 |
| 2014 | -- | $50,258 | $8,772 | $41,486 |
| 2013 | -- | $51,583 | $9,003 | $42,580 |
Source: Public Records
Agents Affiliated with this Home
-
Andy Walton
-
Noel Walton
Seller Co-Listing Agent in 2025
Noel Walton
The McDonald Group
(224) 531-9900
1 in this area
69 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12432935
APN: 06-14-238-015
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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