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Listing provided courtesy of Real Properties Realty Group, Inc.MREDas Distributed by MLSGrid- MLS# 12512060MLS Provider

40523 N IL Route 83Antioch, IL 60002

Commercial · 6 Beds · 4,350 Sq. ft. | 0.64 Acres
$525,000 Active

40523 N IL Route 83 Overview

Time on Site:
124 days
Visits:
3

An incredible opportunity for Investors or Owner-Occupants to own a fully occupied Multi-Family Rental Property in Unincorporated Lake County offering both income stability and lifestyle appeal. Set on a beautiful, wooded, and partially fenced lot with full lake rights 60 feet deep, this property combines privacy, convenience, and charm. The units include a 2-bedroom garden apartment with private walkout entrance, a spacious 3-bedroom residence, a 1-bedroom residence with a private deck, a 2-bedroom residence with deck, and a large 1-bedroom residence featuring a fireplace, skylights, and vaulted ceilings. Tenants benefit from an on-site laundry facility, with select apartments offering in-unit laundry for added comfort and convenience. Located just off Route 83, the property offers ample parking, a dog run, and a serene setting surrounded by nature. With strong, long-term tenants and the owner currently occupying one unit, this property delivers steady income, future upside, and potential to increase the below market rents. Roof shingled July 2018, Tankless water heater October 2021, Well Pump Feb 2022, Apt 4 Furnace replaced March 2022. Sold AS-IS.

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40523 N IL Route 83 Facts & Features

  • Type Commercial
  • Sq. ft. 4,350
  • Price/Sq.ft. $121
  • Lot 0.64 Acres

Details

General

Income/Expenses

  • Other Expense: 1930
  • Electric Expense: 2830
  • Fuel Expense: 886
  • Gross Income: 68100
  • Gross Scheduled Income: 55200
  • Insurance Expense: 2728
  • Maintenance Expense: 0
  • Net Operating Income: 30691
  • Operating Expense: 24509
  • Trash Expense: 1515
  • Water Sewer Expense: 0

Building Information

  • Year Built: 1840

Business Information

  • Current Use: Multi-Family

Location/Region

  • County Or Parish: Lake
  • MLS Area Major: Antioch
  • Township: Antioch

Rent/Lease Information

  • Tenant Pays: Varies by Tenant

Tax Information

  • Tax Annual Amount: $14,532.00
  • Tax Year: 2024

General Information

  • Parcel Number: 02202090010000
  • Property Type: Commercial Sale

Interior

Building Interior

  • Building Area Total: 4350

General Information

  • Basement: Unfinished
  • Cooling: Window Unit(s)
  • Fireplaces Total: 2
  • Stories: 2

Exterior

Lot Information

  • Additional Parcels: No
  • Frontage Type: State Road
  • Lot Size Acres: 0.64
  • Lot Size Dimensions: 226X120X237X120
  • Lot Size Square Feet: 27852
  • Water Source: Well

General Information

  • Number Of Units Total: 5
  • Sewer: Septic Tank

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Beds Total: 1
  • Baths Total: 1
  • Units Total: 2

Unit 2 Details

  • Unit Type: Unit 2
  • Beds Total: 2
  • Baths Total: 1
  • Units Total: 2

Unit 3 Details

  • Unit Type: Unit 3
  • Beds Total: 3
  • Baths Total: 1
  • Units Total: 1

Unit 4 Details

  • Unit Type: Unit 4
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

Unit 5 Details

  • Unit Type: Unit 5
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

Unit 6 Details

  • Unit Type: Unit 6
  • Beds Total: 0
  • Units Total: 0

Unit 7 Details

  • Unit Type: Unit 7
  • Beds Total: 0
  • Units Total: 0

40523 N IL Route 83 Neighborhood

Community

60002 (Antioch) Demographics

44
Median Age
640
Population Density (per sq. mile)
46%
College Educated
$94,665
Estimated Median Income
7,257
Estimated Total Home Owners
1,883
Estimated Total Renters
79% / 21%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

40523 N IL Route 83 Monthly Cost

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Jeremy Woods
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

40523 N IL Route 83 Market Data

Based on the last 30 days in this zip code

$481,923
Average List Price
$218
Average Price per Square Foot
33
Properties Sold
54
Average Days on Market
123
Properties for Sale
Calculations provided by Reliance Network

40523 N IL Route 83 History

Date Event Value Agent
5/14/2026Source: MRED Status Change
Active
5/9/2026Source: MRED Status Change
Re-activated
4/29/2026Source: MRED Status Change
Pending
2/25/2026Source: MRED Added to Database
February 25, 2026