649 Wellington Avenue
Elgin, IL 60120
$309,900
**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 ...
+ Read More| Listing Id: | 12701991 |
|---|---|
| List Price: | $309,900 |
| Property Type: | Residential Income |
| Property Type: | Two to Four Units |
| Status: | Active Under Contract |
| Bedrooms Total: | 3 |
| Bathrooms Full: | 2 |
| Parking On Site: | Yes |
| Tax Annual Amount: | $4,468 |
| City: | Elgin |
| County Or Parish: | Kane |
| Postal Code: | 60120 |
| Year Built: | 1880 |
| Basement: | true |
| Basement: | Unfinished, Cellar, Full, Walk-Out Access |
| Bathrooms Total Integer: | 2 |
| Bedrooms Possible: | 3 |
| Construction Materials: | Other |
| Directions: | RAYMOND S TO HASTINGS W TO WELLINGTON |
| Elementary School District: | 46 |
| Foundation Details: | Concrete Perimeter |
| Heating: | Natural Gas, Forced Air |
| High School District: | 46 |
| Listing Contract Date: | 2026-09-07 |
| Lot Size Dimensions: | 45X118 |
| Middle Or Junior School District: | 46 |
| MLS Area Major: | Elgin |
| Age: | 100+ Years |
| Agent Owned/Interest (Y/N): | Yes |
| Built Before 1978 (Y/N): | Yes |
| 3 Br Un In Bldg (Y/N): | No |
| Corporate Limits: | Elgin |
| # Full Baths In Building: | 2 |
| # Half Baths In Building: | 0 |
| General Information: | None |
| Lot Size: | Less Than .25 Acre |
| Market Code: | Active |
| North: | 10 |
| Rebuilt (Y/N): | Yes |
| Rebuilt Year: | 2026 |
| Rehab Year: | 2026 |
| Rehab (Y/N): | Yes |
| Special Assessments: | N |
| Special Service Area: | N |
| Type Multi: | 2 Flat |
| Update Date: | 2026-09-07T11:57:16 |
| West: | 33 |
| Original List Price: | $339,900 |
| Ownership: | Fee Simple |
| Parcel Number: | 0624179013 |
| Parking Features: | Yes, Owned |
| Parking Total: | 8 |
| Possession: | Closing, Immediate, Negotiable |
| Roof: | Asphalt |
| Rooms Total: | 8 |
| Sewer: | Public Sewer |
| Special Listing Conditions: | None |
| State Or Province: | IL |
| Tax Year: | 2024 |
| Township: | Elgin |
| Water Source: | Public |
| Zoning: | MULTI |
| Actual Status: | Contingent |
| Back On Market Date: | 2026-08-06 |
| Total # Units In Building: | 2 |
| Total # Units In Building: | 2 |
Listing Courtesy of: New Market Realty Inc
Listing Agent: Michael Kevorkian
847-338-6898
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Midwest Real Estate Data LLC data last updated on October 08, 2026 03:47 PM - CT
Based on information submitted to the MLS GRID as of October 08, 2026 03:47 PM - CT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. Some listings have been excluded from this website.
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Property Last Updated: October 08, 2026 03:47 PM - CT
