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Active Under ContractMLS #: 127019911 / 37Get an accurate number
Active Under ContractMLS #: 127019911 / 373 Beds
$309,900
649 Wellington Avenue, Elgin IL, 60120
Est. payment: $2,013/mo · 20% down, 30-year fixed at 6.95%, principal, interest, and taxes per the listing
Built in
1880
Property type
Two to Four Units
Listed by Michael Kevorkian with New Market Realty Inc
Questions about this home: Nick Rife, Rife Realty, (815) 258-1471 or Nick@RifeRealty.com
Overview
**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
Location
649 Wellington Avenue, Elgin IL, 60120
- Township
- Elgin
- County
- Kane
- Area
- Elgin
Interior
- Bedrooms
- 3
- Total rooms
- 8
- Basement
- Unfinished, Cellar, Full, Walk-Out Access
- Heating
- Natural Gas, Forced Air
Exterior and lot
- Construction
- Other
- Roof
- Asphalt
- Lot size
- Less Than .25 acres (45X118)
- Parking
- Owned
- Total parking
- 8
- Sewer
- Public Sewer
- Water
- Public
Schools
- Elementary district
- 46
- Middle district
- 46
Listing details
- MLS number
- 12701991
- Status
- Active Under Contract
- Property type
- Two to Four Units
- Year built
- 1880
- Town
- Elgin
- ZIP
- 60120
- Updated
- Sep 7, 2026
Estimate your payment
Term, years
Your monthly payment will be
$2,013
Principal, interest, and estimated taxes.
Loan $247,920 Down $61,980
- Principal and interest
- $1,641
- Property taxes (2024, per the listing)
- $372
Ballpark estimated payments for planning. Not a quote or a preapproval.
What this estimate includes
Principal, interest, and property taxes: the listing's reported bill when MRED has one, otherwise an estimate from typical corridor rates. Insurance and any PMI are not included, and this is not an offer of credit. Your real number depends on your credit, the lender, and the property.
Talk to Nick and he will connect you with one of his preferred lenders for a real figure.
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of Sep 21, 2026, 5:10 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.
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