656 South St, Elgin, IL 60123

A rare opportunity to own a piece of Elgin's architectural history! Built in 1883, this distinctive Queen Anne Victorian combines timeless charm with the income potential of a legally configured 3-unit property. Well-maintained and thoughtfully laid out, it boasts three separate living spaces: Unit 1 on the main level was REHABBED in 2024, includes 2 bedrooms, 1 bathroom, and private access to the basement; Unit 2 on the second floor offers 3 bedrooms and 1 bathroom and is rented month-to-month; and Unit 3 on the main level features 1 bedroom and 1 bathroom. The full, unfinished basement provides shared coin-operated laundry, dedicated storage closets for each unit, and convenient exterior access. Eight exterior parking spaces on an oversized parking lot in the rear and a storage shed add to the property's functionality. Ideal for investors looking to expand their portfolios or owner-occupants seeking to offset housing expenses through rental income, all three units are currently occupied by responsible tenants paying below-market rents, presenting potential for future income growth. With established tenancy, a carefully maintained building, and flexible ownership possibilities, this Victorian gem offers a compelling opportunity in Elgin. Enjoy convenient access to Downtown Elgin, public transportation, Metra commuter rail, the Fox River, neighborhood parks, local shopping and dining, and more!