About this property
MULTIFAMILY INVESTMENT OPPORTUNITY
5,991 SF
23 single residence occupancy units in 2 story vintage downtown McHenry building with 20 units leased (87% occupancy).
Units rented week to week or month to month. Laundry room. Separate 400 sf leasing/management office could be converted to apartment, store or office and further monetized. Close to commuter train and downtown restaurants.
Potential for redevelopment or creative re-use. City in process of establishing TIF district and plans area capital improvements. Priced below local Assessor valuation. Management in place. Ask for rent roll and operating statement. 12.6% actual cap rate.
This is an older Class C SRO building that needs work and is priced accordingly. Being sold "as-is"
Property details
- Property Type
- Residential
- Building Type
- Freestanding
- Building Size
- 5,991 sqft
- Land Size
- 9,488 sqft
- Units
- 23
- Sewer
- City
- Water
- City
- Zoning
- C-5
- Electric
- 100 Amp
- Year Built
- 1895
- Parking
- 4 + Street
Documents 1 file
Last updated: Oct 1, 2026
Location
- Address
-
3939 Main St
McHenry, Illinois 60050