$314,900

649 Wellington Avenue, Elgin, IL 60120

Active
3 beds 0 baths Built 1880 Residential Income MLS #MRD12701991 34 days on market
Listing courtesy of New Market Realty Inc · 312-239-3626 · MLS #MRD12701991 · Status: Active
**Completely Renovated Riverview 2-Unit Investment Opportunity!** Some work still being completed, please excuse the mess while we finish this extraordinary property for you! This turn-key multifamily property offers the perfect combination of modern updates, strong cash flow, and an unbeatable location along the Fox River in Elgin. Every major component has been renovated, allowing the next owner to enjoy a truly maintenance-friendly investment with nothing left to do but collect rent. The building features a spacious **2-bedroom unit with projected rental income of approximately $1,800 per month** and a well-appointed **1-bedroom unit with projected rental income of approximately $1,500 per month**, providing excellent income potential for both investors and owner-occupants. Both units have been beautifully updated with new finishes throughout, creating bright, modern living spaces that today's tenants are looking for. Additional features include a **full unfinished basement** offering abundant storage and future possibilities, plus an incredible **8-car parking area**-a rare and valuable amenity for a multifamily property. Situated in a desirable riverview setting with convenient access to downtown Elgin, parks, shopping, restaurants, commuter routes, and the scenic Fox River Trail, this property offers the perfect blend of location, lifestyle, and investment potential. Elgin's riverfront and downtown continue to be key attractions for residents seeking outdoor recreation and urban conveniences. **Whether you're expanding your portfolio or looking to reduce your mortgage by living in one unit while renting the other, this fully renovated, move-in-ready property is an exceptional opportunity that won't last long.** Broker Interest

Property details

Interior

Basement
Unfinished, Cellar, Full, Walk-Out Access
Total rooms
8

Building & exterior

Age
100+ Years
Exterior
Other
Roof
Asphalt
Foundation
Concrete Perimeter

Parking

Total spaces
8
Parking details
Yes, Owned

Lot & location

Lot dimensions
45X118
Township
Elgin
County
Kane

Utilities

Heating
Natural Gas, Forced Air
Water
Public
Sewer
Public Sewer

Schools

Elementary
(46)
Junior high
(46)
High school
(46)

Taxes & terms

Annual taxes
$4,468 (2024)
Parcel number (PIN)
0624179013
PIN
0624179013
Ownership
Fee Simple
Possession
Closing, Immediate, Negotiable
Special conditions
None
Listed
7/19/2026

What would this home cost per month?

Using this listing's actual tax bill (2024) — adjust anything.

Rates move daily — edit to today's quote. Under 20% down adds PMI automatically.

Estimated monthly payment
$0
Principal & interest
Property taxes
Insurance
PMI (under 20% down)
HOA / assessments

Estimates only — not a loan offer or quote; your rate, insurance and PMI depend on your credit and lender. Run other scenarios on the full mortgage calculator, or ask us to connect you with lenders our clients actually close with.

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3 bd · 1.5 ba · 1,250 sqft
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Want to see this home?

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Listings courtesy of MRED as distributed by MLS GRID. MLS GRID

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