Waukegan, IL Multifamily Homes & Duplexes for Sale

/2
$239,000
- 2 Beds
- 2 Baths
822 S Martin Luther King Junior Ave, Waukegan, IL 60085

This large Gem just needs a little TLC it has a Frunchroom for an office or your plants and or etc. hardwood flooring through out the units roof 15yrs hvac 15yrs plenty of parking off and on street parking for guest also surrounded by schools,churches,and parks a convenient spot for families and community activities

Regina Stewart

House of Real Estate

(224) 505-4650

822 S Martin Luther King Junior Ave, Waukegan, IL 60085
/40
$189,000
- 10 Beds
- 3 Baths
314 Liberty St, Waukegan, IL 60085

Great opportunity to build sweat equity in this 3 unit property offering two spacious 4 bedroom, 1 bathroom apartments and what could be finished as a 2 bedroom, 1 bath garden apartment. Ideal for a savvy investor or owner occupant looking to offset their mortgage with rental income. Walking distance to the lake, parks, playgrounds shopping, dining and the Metra.

Joan Couris Keller Williams Thrive

314 Liberty St, Waukegan, IL 60085
/19
$512,500
- 3,780 Sq Ft
515 8th St, Waukegan, IL 60085

Solid 6-Unit Investment Opportunity - Fully Occupied-Sold As-Is Welcome to 515 8th St, a fully occupied, income-producing 6-unit property in Waukegan offering immediate cash flow with upside potential. The building consists of 2 one-bedroom units, 2 two-bedroom units, and 2 studio apartments. Three of the six units have been recently updated, and all apartments are individually metered for

Hanon Hines Illinois Real Estate Partners Inc

515 8th St, Waukegan, IL 60085
/18
$385,000
- 6 Beds
- 2 Baths
1110 W Pacific Ave, Waukegan, IL 60085

Excellent opportunity to own a beautifully renovated brick 2-flat (with 2 car garage), on a prime corner lot in Waukegan! Both units have been renovated, with all new bathrooms, kitchen and appliances, paint, and interior finishes! 3 full beds and 1 bath in each unit, hardwood floors throughout, and a large living room with decorative fireplace and separate dining room. Great western exposure

Zach Kennedy Compass

1110 W Pacific Ave, Waukegan, IL 60085
/28
$319,888
- 5 Beds
- 4 Baths
518 Franklin St, Waukegan, IL 60085

Victorian Charm Meets Modern Luxury! Experience the perfect blend of historic charm and modern sophistication in this stunning Victorian 2-flat with wrap around porch. Totally renovated to highlight the home's original beauty, this property boasts refinished original floors, new upgraded kitchens, and baths. The first-floor features 2 spacious bedrooms, 2 modern baths, and ample living space. The

Richard Lewis Double R Realty LLC

518 Franklin St, Waukegan, IL 60085
/32
$1,500,000
- 18,252 Sq Ft
2116 & 2101 Williamsburg Dr, Waukegan, IL 60085

This exceptional 12-unit investment opportunity consists of two 6-unit buildings each with five 2 bedroom, 1 bathroom units, and one 1 bedroom 1 bathroom unit, located directly across the street from each other, allowing for easy management and tenant access. Each building has been renovated, featuring updated flooring, electrical, paint, modern cabinets, and newer appliances, making these units

Toynoia Briggity eXp Realty - Chicago North Ave

2116 & 2101 Williamsburg Dr, Waukegan, IL 60085

Illinois Waukegan

Why Live in Waukegan

Waukegan's mile-long municipal beach along Lake Michigan provides year-round waterfront recreation, while the historic Genesee Theatre brings Broadway shows and national acts to the heart of downtown. The 6.5-mile Illinois Beach State Park showcases diverse plant life and pristine shoreline. Downtown Waukegan features local art galleries, monthly ArtWauk events, and distinctive murals celebrating hometown author Ray Bradbury. The 700-slip Waukegan Harbor and Marina serves as a gateway to Lake Michigan boating and fishing. Local dining ranges from authentic Middle Eastern cuisine at Papa Marco's Grill & Kabob to classic Italian treats at Tina's Italian Bake Shop. The housing market spans multiple price points across distinct neighborhoods. Single-family homes in Bonnie Brook have a median price of $305,000, while Downtown Waukegan's median price is $145,000. Shore Highlands and Fair Oaks Estates feature single-family homes with median prices of $295,000 and $286,000 respectively. The Greens at Midlane North has a median single-family home price of $265,800. One-bedroom condos throughout Waukegan have a median price of $85,000, while two-bedroom condos have a median price of $225,000. Property taxes in Lake County stand at 2.68%, with Illinois state income tax at 4.95%. The combined sales tax rate is 8.89%. Commuters benefit from Metra's Union Pacific North Line to Chicago and access to Interstate 94. Top-rated schools include Libertyville High School and St. Patrick School. The Great Lakes Naval Training Center maintains a significant presence in the community.

Learn more about living in Waukegan

Home Trends in Waukegan, IL

On average, homes in Waukegan, IL sell after 25 days on the market compared to the national average of 70 days. The median sale price for homes in Waukegan, IL over the last 12 months is $85,000, down 59% from the median home sale price over the previous 12 months.

Housing Trends

Median Sale Price

$85,000

Median 2 Bedroom Sale Price

$226,000

Median 1 Bedroom Sale Price

$85,000

Average Price Per Sq Ft

$180

Number of Homes for Sale

Last 12 months Home Sales

Months of Supply

0.00

Median List Price

$104,900

Median Change From 1st List Price

19%

Median Home Sale Price YoY Change

-59%

How to Buy a Home How to Finance a Home How to Sell a Home

In Waukegan, there are currently 6 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $189,000 to $1,500,000, there's a range to accomodate every budget. As of July, 2025 the median home price in Waukegan is $104,900, while the average sale price is $109,727, offering insights into the local housing market. On average, multi-family homes spend 25 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Waukegan, IL.

Waukegan Types of Homes for Sale

More About Living in Waukegan

Homes in Nearby Neighborhoods

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