422 Locust St Elgin, IL 60123
Near West Elgin NeighborhoodEstimated payment $2,611/month
Total Views
7,684
3
Beds
3
Baths
--
Sq Ft
--
Price per Sq Ft
About This Home
Welcome to 422 Locust Street, a beautifully updated two-unit property located in the heart of Elgin. This turnkey building presents a rare opportunity for both owner-occupants and investors, offering thoughtful upgrades throughout and strong rental potential. Unit 1 features a spacious and unique two-story layout with a private entrance, giving the feel of a single-family home. It includes three oversized bedrooms, two updated bathrooms, a modern kitchen with brand new waterproof luxury vinyl plank flooring, and upgraded lighting throughout. Unit 2 is a fully remodeled studio with its own private entrance, showcasing quartz countertops, smart appliances, waterproof LVP flooring, and a contemporary bathroom-making it an ideal high-end rental. Both units will be delivered vacant at closing, providing maximum flexibility to rent at current market rates or to house hack. The property has been meticulously maintained and thoughtfully improved with major upgrades, including a new water heater (2024), a high-efficiency Carrier HVAC system with a two-stage gas furnace (2022), a Nest thermostat, Aprilaire humidifier, newer windows, and a freshly built and painted wraparound porch. The exterior features a freshly blacktopped driveway, a detached three-car garage, and an additional ten parking spaces-offering rare and valuable off-street parking for tenants or guests. The full basement includes laundry, extra storage, and a separate exterior entrance, creating a value-add opportunity for future living space or rental income. Rental comps in the area demonstrate strong upside potential. Unit one: MLS #12286435, a 3BD/1BA property, rented for $2,000 in just 22 days, while MLS #12281539, a 3BD/1BA with only a one-car garage, supports similar pricing. Unit 2: For the studio unit, MLS #12198381 rented at $995 with no garage, driveway, or privacy, and MLS #12065176 rented in just 26 days without parking. COMPETITIVE ADVANTAGE: the units at 422 Locust Street offer more modern finishes, private entrances, ample off-street parking, 3 CAR GARAGE with potential to be rented and overall better value-suggesting even higher rental potential. Located near downtown Elgin, Grand Victoria Casino, Metra, I-90, shops, and restaurants, this property offers both convenience and long-term value. With excellent projected rental income and flexible occupancy options, this is a prime opportunity to own a well-maintained, income-producing property in a desirable and growing market.
Listing Agent
MPower Residential Brokerage LLC License #475209108 Listed on: 08/08/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,908
Year Renovated
- 2022
Parking
- 3 Car Garage
- Parking Included in Price
Home Design
- Stone Foundation
- Asphalt Roof
Interior Spaces
- 2-Story Property
- Ceiling Fan
- Basement Fills Entire Space Under The House
- Carbon Monoxide Detectors
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Potential Bedrooms
- 3 Bathrooms
Additional Features
- Porch
- Lot Dimensions are 60x150
- Heating System Uses Natural Gas
Community Details
- 2 Units
Listing and Financial Details
- Homeowner Tax Exemptions
Map
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Tax History
| 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 | $5,908 | $83,743 | $19,957 | $63,786 |
| 2023 | $5,620 | $75,656 | $18,030 | $57,626 |
| 2022 | $4,910 | $62,630 | $16,440 | $46,190 |
| 2021 | $4,689 | $58,554 | $15,370 | $43,184 |
| 2020 | $4,551 | $55,899 | $14,673 | $41,226 |
| 2019 | $4,413 | $53,247 | $13,977 | $39,270 |
| 2018 | $4,366 | $50,162 | $13,167 | $36,995 |
| 2017 | $4,260 | $47,422 | $12,448 | $34,974 |
| 2016 | $4,052 | $43,994 | $11,548 | $32,446 |
| 2015 | -- | $40,325 | $10,585 | $29,740 |
| 2014 | -- | $39,827 | $10,454 | $29,373 |
| 2013 | -- | $40,878 | $10,730 | $30,148 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/08/2025 08/08/25 | For Sale | $389,000 | +103.2% | -- |
| 04/01/2019 04/01/19 | Sold | $191,468 | 0.0% | -- |
| 03/30/2019 03/30/19 | Off Market | $191,468 | -- | -- |
| 01/21/2019 01/21/19 | Pending | -- | -- | -- |
| 01/04/2019 01/04/19 | For Sale | $199,900 | 0.0% | -- |
| 12/18/2018 12/18/18 | Pending | -- | -- | -- |
| 12/12/2018 12/12/18 | For Sale | $199,900 | +4.4% | -- |
| 12/07/2018 12/07/18 | Off Market | $191,468 | -- | -- |
| 12/02/2018 12/02/18 | For Sale | $199,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $292,500 | Attorney | |
| Warranty Deed | $145,500 | Preferred Title Ins Agency | |
| Interfamily Deed Transfer | -- | First American Title Ins | |
| Trustee Deed | -- | -- | |
| Interfamily Deed Transfer | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $191,978 | FHA | |
| Closed | $191,468 | FHA | |
| Previous Owner | $116,360 | Purchase Money Mortgage | |
| Previous Owner | $129,500 | New Conventional | |
| Previous Owner | $110,500 | Unknown | |
| Previous Owner | $96,300 | Unknown | |
| Previous Owner | $65,000 | Balloon | |
| Previous Owner | $25,000 | Balloon |
Source: Public Records
Similar Homes in Elgin, IL
Source: Midwest Real Estate Data (MRED)
MLS Number: 12441963
APN: 06-14-409-026
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.
Based on information submitted to the MLS GRID. 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.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked.
Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Nearby Homes
- 624 South St
- 226 Mountain St
- 552 Walnut Ave
- 230 S State St
- 45 Woodland Ave
- The Halsted Plan at Tall Oaks
- The Craftsman - Sideload Plan at Tall Oaks
- The Westwood Plan at Tall Oaks
- The Bettendorf Sideload Plan at Tall Oaks
- The Superior Plan at Tall Oaks
- The Ontario Plan at Tall Oaks
- The Ashbury - Sideload Plan at Tall Oaks
- The Braxton Plan at Tall Oaks
- The Modern Farmhouse - Sideload Plan at Tall Oaks
- The Erie Sideload Plan at Tall Oaks
- The Aspen Plan at Tall Oaks
- The Williamson - Sideload Plan at Tall Oaks
- 216 Prairie St
- 309 Griswold St
- 134 Dawson Dr
- 50 S Grove Ave
- 50 S Grove Ave Unit 514
- 59 S Grove Ave Unit UPPER
- 319 Wabash St
- 300 N State St
- 278 Douglas Ave
- 3 Times Square
- 265 Percy St Unit 2N
- 659 Bent St
- 237 Robert Dr
- 443 Jefferson Ave Unit 1 - 2 bed 1.5 bath
- 51 Surrey Dr
- 336 Lilac Ln Unit H
- 830 Bellevue Ave
- 6 Tivoli Place
- 838 Duncan Ave
- 1335 Abbott Dr Unit 5
- 279 Bayview Rd Unit 280
- 1184 Logan Ave
- 408 Woodview Cir Unit B