789 N Mckinley Rd Lake Forest, IL 60045
Estimated payment $4,640/month
Highlights
- Traditional Architecture
- 5-minute walk to Lake Forest Station (Up-North)
- Paved or Partially Paved Lot
- Sheridan Elementary School Rated A
- Soaking Tub
- 4-minute walk to Triangle Park
About This Home
Rare investment opportunity, own a 4-unit multifamily home in downtown Lake Forest at a great price! Fantastic location near Metra commuter rail and bike trails, Lake Forest Library, Market Square, and access to grocery and retail shops. Two units in front, one on the main level, feature hardwood floors and tall ceilings, a large foyer entry, a wood-burning fireplace with bay windows in the living room, a one-bedroom, one-bath unit, and a kitchen. The front second-level unit features a carpeted living space, a kitchen with an adjacent dining or sunroom, a decent-sized pantry closet, a single bedroom, and a full bathroom with a tub. There are two units at the back of the building. The first floor is a studio, accessible from the side of the building, that features hardwood floors, a kitchen, and a bath. The second-level unit, featuring hardwood floors, comprises a living space (or second bedroom), a kitchen, a bedroom, and a bath with a tub. The unfinished basement, featuring a common walk-out, includes a washer and dryer shared by all four units, as well as individual storage. This home is equipped with a newer water heater, boiler heat, individual electricity panels, and window air conditioning. No parking is included, but well-lit overnight parking can be purchased across the street in the city lot. The drive and alley are access-only. Sold "as-is", no warranties.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,959
Year Built
- Built in 1910
Lot Details
- Lot Dimensions are 40 x 115
- Paved or Partially Paved Lot
Home Design
- Traditional Architecture
- Brick Foundation
- Asphalt Roof
Interior Spaces
- 2-Story Property
- Basement Fills Entire Space Under The House
- Carbon Monoxide Detectors
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Potential Bedrooms
- 4 Bathrooms
- Soaking Tub
Schools
- Sheridan Elementary School
- Deer Path Middle School
- Lake Forest High School
Utilities
- Heating System Uses Natural Gas
- Lake Michigan Water
- Gas Water Heater
Community Details
- 4 Units
Map
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 | $10,632 | $183,264 | $70,217 | $113,047 |
| 2023 | $8,423 | $168,938 | $64,728 | $104,210 |
| 2022 | $8,423 | $139,498 | $53,448 | $86,050 |
| 2021 | $8,190 | $138,295 | $52,987 | $85,308 |
| 2020 | $8,006 | $139,060 | $53,280 | $85,780 |
| 2019 | $7,606 | $136,507 | $52,302 | $84,205 |
| 2018 | $6,518 | $125,015 | $69,150 | $55,865 |
| 2017 | $6,409 | $122,925 | $67,994 | $54,931 |
| 2016 | $6,150 | $117,004 | $64,719 | $52,285 |
| 2015 | $6,086 | $110,174 | $60,941 | $49,233 |
| 2014 | $5,770 | $103,967 | $54,712 | $49,255 |
| 2012 | $5,651 | $104,869 | $55,187 | $49,682 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/21/2025 07/21/25 | Price Changed | $674,900 | -6.9% | -- |
| 06/21/2025 06/21/25 | For Sale | $725,000 | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $225,000 | Commercial | |
| Closed | $225,000 | Commercial | |
| Closed | $275,000 | Unknown | |
| Closed | $500,000 | Commercial | |
| Closed | $34,000 | Commercial |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12370830
APN: 12-33-108-002
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