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Hometown Real Estate
7700 W. Belmont Ave
Chicago , IL 60634
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888 317 9983
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773 664 0013

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40523 IL Route 83
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Lake, US
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Status: Active (For Sale)
Type: Commercial
Lot Size: 0.64 Acres
Year Built: 1840
MLS ID: 12512060


Overview
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An incredible opportunity for Investors or Owner-Occupants to own a fully occupied 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 residence with a private deck, a 2-bedroom residence with deck, and a large 1-bedroom residence 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. Roof shingled July 2018, Tankless water heater October 2021, Well Pump Feb 2022, Apt 4 Furnace replaced March 2022. Sold AS-IS.

Courtesy Of: Real Properties Realty Group, Inc.


Feature Highlights


  • Built Before 1978

General Features


List Date:
11/24/2025

Exterior Features and Amenities


Lot Size Dimensions:
226X120X237X120

Financial


Days On Market:
99
Tax Annual Amount:
$14,532.00
Tax Year:
2024


Directions


Route 83 N from Grass Lake Road. Property located on Right

Availability Calendar


- Available - Unavailable

Rental Rates


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The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of MRED LLC. Real Estate listings held by brokerage firms other than Hometown Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data last updated: 2026-03-18
.

Copyright 2026 MRED LLC

The information presented here is deemed reliable, though not guaranteed.
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Corporate Office 7700 W. Belmont Ave, Chicago, IL 60634
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