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$ 455,000
Est. payment | /mo
$ 455,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12543555
Maintenance Fees $11,111
Year Built 1945
Annual Tax Amount $13,620
Tax Year 2024
Lot Dimensions 1x1x1x1x1
Property Sub-Type Multi Family 5+
Property Description
Discover a rare and time-sensitive opportunity to own a beautifully maintained 5-unit lakefront property on the serene shores of Nippersink Lake, part of the Chain O'Lakes in northern Illinois. Whether you're seeking a turn-key investment, a multi-family getaway, or the perfect blend of both, properties like this rarely come to market and offer exceptional long-term potential. Currently operating as short-term rentals under a special use permit from Lake County, this lakefront gem features five units, each with a private entrance and open-concept layout, modern kitchens, and updated baths. Three spacious 2-bedroom units are ideal for year-round living or high-performing premium rentals, while two charming 1-bedroom units provide cozy weekend retreats with warm interiors, rustic charm, and contemporary finishes. Offered fully furnished, this is a true plug-and-play investment. Outdoor seating areas invite guests to relax and enjoy panoramic lake views, while boating, fishing, and watersports are just a few doors away. Just up the road, the brand-new Lakefront Park - Fox Lake opens Memorial Day weekend and features an ADA-compliant pier and boardwalk, pickleball courts, splash pads, a sand beach, and fishing access. The park will also host Friday Night Live Concerts beginning June 6, 2025, adding even more appeal for residents and guests alike. Located minutes from downtown Fox Lake, shopping, dining, and the Metra station, this property offers the perfect balance of tranquility and convenience. With strong rental demand and an unbeatable lakefront setting, this is a smart investment in a highly sought-after community-one you won't want to miss. Property is being offered as-is, where is.
Location
State IL
County Lake
Area Fox Lake
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by Jennifer Webb of Hearth & Home Real Estate LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "