117 Nippersink Rd - Apartments FOR SALE


Fox Lake, IL 60020
$550,000 USD
847-858-2909
117 Nippersink Rd, Fox Lake, IL for Sale
$550,000 USD
Apartments - FOR SALE
1/37
null | Request Cap Rate

117 Nippersink Rd
Fox Lake, IL 60020


OVERVIEW

117 Nippersink Rd is a fully furnished 5-unit lakefront rental property positioned on the shores of Nippersink Lake, part of the Chain O’ Lakes in northern Illinois. The property operates with a flexible hybrid rental strategy, utilizing mid-term monthly tenants from approximately September through April and dynamic peak-season lakefront guest stays during the warmer boating season. This structure allows ownership to capture stable off-season income while preserving upside during Fox Lake’s high-demand summer season. The property includes five updated units, each with private entrance, open-concept layout, modern kitchen, and updated bath finishes. The unit mix consists of three spacious 2-bedroom units and two 1-bedroom units, all offered fully furnished for a plug-and-play investment. Outdoor seating areas, lake views, nearby boating, fishing, dining, downtown Fox Lake, Metra access, and the new lakefront park all contribute to strong rental appeal. Updated Investment Highlights for 117 5-unit fully furnished lakefront rental property Approx. 3,608 SF Flexible hybrid rental model Mid-term monthly tenants from approximately September–April Dynamic peak-season guest rental income during summer months Owner-provided 2025 gross income of approximately $113,594 Owner-provided 2025 NOI before debt service of approximately $83,924 Three 2-bedroom units and two 1-bedroom units Private entrances, updated kitchens, and updated baths Utilities paid by mid-term tenants during off-season occupancy Direct lakefront setting near boating, fishing, downtown Fox Lake, Metra, and new lakefront park

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

5

PRICE/UNIT

$110,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

b-4

APN/PARCEL ID

05-04-402-048

ASK ABOUT THIS PROPERTY

Jason BittonRemax CommercialMore Info
847-858-2909

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Jason BittonRemax CommercialMore Info
847-858-2909

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.