Stabilized Cash Flow Today, Commercial Upside Tomorrow! Positioned on a prime, high-visibility corner lot at Route 176 and Midway Road (Roberts Road) in Island Lake, this versatile 4-unit property delivers immediate passive income paired with high-exposure commercial flexibility. Currently all units are occupied with active residential leases through 2027 (1 expiring Feb '27; 3 expiring July '27), the asset generates reliable holding income while you finalize your long-term strategy. Includes an attached garage with potential to be leased separately for additional income or storage. Zoned Business and previously operated as a professional office, the building features exceptional daily traffic counts and prime signage opportunities. Perfect for income-property investors seeking stable holding yield, or commercial end-users looking to secure a prominent footprint today with built-in income prior to owner occupancy.
New
$850,000
106 W State Rd, Island Lake, IL 60042
9beds
--sqft
Multi Family
Built in 1945
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Attached garagePrime high-visibility corner lot
- --
- 31
- views
- 2
- saves
Zillow last checked:
Listing updated:
Listed by:
Kelly Vance (815)382-4841,
Century 21 Integra
Source: MRED as distributed by MLS GRID,MLS#: 12756065
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
- Bathrooms: 5
- Full bathrooms: 5
- 1/2 bathrooms: 1
Heating
- Natural Gas
Features
- Basement: Finished,Walk-Out Access
Property
Parking
- Total spaces: 15
- Parking features: Garage Door Opener, Garage, Yes, Garage Owned, Attached, Unassigned, Guest, Parking Lot, Owned
- Attached garage spaces: 1
- Has uncovered spaces: Yes
Lot
- Size: 0.27 Acres
- Features: Corner Lot
Details
- Parcel number: 1520477020
- Special conditions: List Broker Must Accompany
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick, Block
- Foundation: Block, Concrete Perimeter
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1945
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Island Lake
Financial & listing details
- Tax assessed value: $368,439
- Annual tax amount: $9,760
- Date on market: 9/11/2026
- Ownership: Fee Simple
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/22/2018 | Sold | $186,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,760 +10.3% | $122,813 +9.5% |
| 2024 | $8,851 +3.3% | $112,168 +11.5% |
| 2023 | $8,566 -6.5% | $100,590 +9.4% |
| 2022 | $9,165 +2.9% | $91,989 +6.7% |
| 2021 | $8,911 +5.3% | $86,245 +3.1% |
| 2020 | $8,466 | $83,660 +5.2% |
| 2019 | -- | $79,539 +6.5% |
| 2018 | $7,961 +2.6% | $74,713 +4.4% |
| 2017 | $7,759 +2.1% | $71,578 +4.8% |
| 2016 | $7,601 | $68,294 -24.5% |
| 2013 | $7,601 | $90,438 -13.4% |
| 2011 | -- | $104,374 -7.2% |
| 2010 | -- | $112,448 -6.1% |
| 2009 | -- | $119,741 |
| 2008 | -- | $119,741 +7.7% |
| 2006 | -- | $111,158 +4.7% |
| 2005 | $8,017 +5.6% | $106,158 +6.3% |
| 2004 | $7,595 +9.6% | $99,848 +6.1% |
| 2003 | $6,930 -0.1% | $94,064 +6.5% |
| 2002 | $6,939 +2.6% | $88,364 +3.9% |
| 2001 | $6,762 +9.5% | $85,022 +4.4% |
| 2000 | $6,176 | $81,423 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 60042
Nearby schools
Schools provided by the listing agent
- District: 118
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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