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40523 N Il Route 83 5 Unit Apartment Building $735,893 CAD ($147,179 CAD/Unit) 8.36% Cap Rate Antioch, IL 60002
Investment Highlights
- Long Term Tenants
- Section 8 Approved Building
Executive Summary
An incredible opportunity for Investors or Owner-Occupants to own a fully occupied 5-Unit 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 with a private deck, a 2-bedroom with deck, and a large 1-bedroom 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. Building is Section 8 certified. Roof shingled July 2018, Tankless water heater October 2021, Well Pump Feb 2022, Apt 4 Furnace replaced March 2022. Sold AS-IS.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$95,876
|
$22.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$95,876
|
$22.04
|
| Taxes |
$20,357
|
$4.68
|
| Operating Expenses |
$13,997
|
$3.22
|
| Total Expenses |
$34,354
|
$7.90
|
| Net Operating Income |
$61,522
|
$14.14
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $95,876 |
| Annual Per SF | $22.04 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $95,876 |
| Annual Per SF | $22.04 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,357 |
| Annual Per SF | $4.68 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,997 |
| Annual Per SF | $3.22 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $34,354 |
| Annual Per SF | $7.90 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $61,522 |
| Annual Per SF | $14.14 |
Property Facts
| Price | $735,893 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $147,179 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.64 AC |
| Cap Rate | 8.36% | Building Size | 4,350 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1840 |
| Price | $735,893 CAD |
| Price Per Unit | $147,179 CAD |
| Sale Type | Investment |
| Cap Rate | 8.36% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 4,350 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1840 |
Amenities
Site Amenities
- Laundry Facilities
- Waterfront
- Individual Leases Available
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 02-20-209-001 | Total Assessment | $247,895 CAD |
| Land Assessment | $14,927 CAD | Annual Taxes | $20,357 CAD ($4.68 CAD/SF) |
| Improvements Assessment | $232,968 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
02-20-209-001
Land Assessment
$14,927 CAD
Improvements Assessment
$232,968 CAD
Total Assessment
$247,895 CAD
Annual Taxes
$20,357 CAD ($4.68 CAD/SF)
Tax Year
2025
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Real Properties Realty Group
40523 N Il Route 83
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