245-247 Washington Avenue

Highwood, IL 60040

Investor special, 3 units in booming Highwood, $85,000/yr in rents, nearly 7% CAP rate! Nestled in the foody town of Highwood, surrounding a lush front yard, sit two compelling and remodeled rental properties: one bi-level brick duplex with 5 beds/2 bath and one elegant stucco single family rental with 3 beds and 3 baths. The duplex consists of one top unit (3 bed, 1 bath) renting for $2,845 per month and the bottom unit (2 bed, 1 bath) renting for $1,400.00. (This bottom unit was just remodeled in May while the long-term tenant occupied the unit; with the remodel, the fair market rent is likely $1,800-2,000). The single family rental is leased at $2,840 until Mar 31, 2026 (fair market rent is likely $3,300 to $3,500). This single family has a huge open basement which could be finished with and additional bed/bath/den, a mother-in-law suite, or a separate apartment with its own direct access. Tenants pay their own utilities. There is room for further expansion with fair market rent increases and development of the untapped single family basement.

This is an Active listing.

Broker Office Phone Number: 888-276-9959

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