Unique mixed-use opportunity in the heart of Lake Villa! This nearly 5-acre property features two homes and a detached 3-car garage (with 2-car overhead door). The main farmhouse has been thoughtfully converted into a 2-unit residence, offering a total of 5 bedrooms, 3 full baths, 2 kitchens, 3 living rooms, a sunroom, walk-in closet, storage room, and full basement. The original staircase remains, allowing for an easy conversion back to a single-family layout if desired. The second home is a charming ranch featuring 1 bedroom, 1 full bath, kitchen with eating area, and a small office space. In 2nd Home, some windows were replaced approximately 15 years ago, Roof replaced approximately 15 years ago, and Hot Water Heater is 7-8 years old. Some acreage is currently being farmed for hay, providing a serene rural setting while still close to town conveniences. Special financing may be required due to the mixed-use setup. Do not walk the property without an appointment-homes are occupied. See floor plans for detailed layouts of both residences.
Closed
$505,000
116 E Monaville Rd, Lake Villa, IL 60046
6beds
4,754sqft
Single Family Residence
Built in 1917
-- sqft lot
$505,300 Zestimate®
$106/sqft
$4,441 Estimated rent
Home value
$505,300
$460,000 - $556,000
$4,441/mo
Zestimate® history
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Zillow last checked: 7 hours ago
Listing updated: March 16, 2026 at 12:41pm
Listing courtesy of:
Nikki Nielsen 847-652-3786,
Keller Williams North Shore West
Bought with:
Christine Hjorth
Keller Williams North Shore West
Source: MRED as distributed by MLS GRID,MLS#: 12492112
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Primary bedroom
- Level: Main
- Area: 238 Square Feet
- Dimensions: 17X14
Bedroom 2
- Level: Main
- Area: 256 Square Feet
- Dimensions: 16X16
Bedroom 3
- Level: Main
- Area: 91 Square Feet
- Dimensions: 13X7
Bedroom 4
- Level: Second
- Area: 240 Square Feet
- Dimensions: 16X15
Bedroom 5
- Level: Second
- Area: 180 Square Feet
- Dimensions: 15X12
Bedroom 6
- Level: Main
- Area: 192 Square Feet
- Dimensions: 16X12
Dining room
- Level: Main
- Area: 182 Square Feet
- Dimensions: 13X14
Eating area
- Level: Main
- Area: 40 Square Feet
- Dimensions: 8X5
Enclosed porch
- Level: Main
- Area: 156 Square Feet
- Dimensions: 13X12
Family room
- Level: Second
- Area: 156 Square Feet
- Dimensions: 12X13
Great room
- Level: Second
- Area: 192 Square Feet
- Dimensions: 16X12
Kitchen
- Level: Main
- Area: 210 Square Feet
- Dimensions: 14X15
Kitchen 2nd
- Level: Second
- Area: 240 Square Feet
- Dimensions: 16X15
Kitchen 2nd
- Level: Main
- Area: 60 Square Feet
- Dimensions: 12X5
Laundry
- Level: Basement
- Area: 100 Square Feet
- Dimensions: 10X10
Living room
- Level: Main
- Area: 238 Square Feet
- Dimensions: 17X14
Recreation room
- Level: Main
- Area: 132 Square Feet
- Dimensions: 12X11
Storage
- Level: Main
- Area: 108 Square Feet
- Dimensions: 12X9
Walk in closet
- Level: Second
- Area: 42 Square Feet
- Dimensions: 6X7
Heating
- Natural Gas, Forced Air, Steam, Baseboard
Cooling
- None
Appliances
- Included: Range, Refrigerator, Washer, Dryer
Features
- Basement: Unfinished,Full
Interior area
- Total structure area: 0
- Total interior livable area: 4,754 sqft
Property
Parking
- Total spaces: 2
- Parking features: Garage Door Opener, Yes, Garage Owned, Detached, Garage
- Garage spaces: 2
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: No Disability Access
Features
- Stories: 2
Lot
- Dimensions: 410x531x411x466
- Features: Mature Trees
Details
- Additional structures: Guest House
- Parcel number: 06091000160000
- Special conditions: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Farmhouse
- Property subtype: Single Family Residence
Materials
- Vinyl Siding
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1917
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Lake Villa
HOA & financial
HOA
- Services included: None
Other
Other facts
- Listing terms: Exchange
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 3/16/2026 | Sold | $505,000-3.8%$106/sqft |
Source:  MRED as distributed by MLS GRID #12492112 Report a problem | ||
| 1/28/2026 | Contingent | $525,000$110/sqft |
Source: MRED as distributed by MLS GRID #12492112 Report a problem | ||
| 11/10/2025 | Price change | $525,000-4.5%$110/sqft |
Source: MRED as distributed by MLS GRID #12492112 Report a problem | ||
| 10/13/2025 | Listed for sale | $550,000+1278.4%$116/sqft |
Source: MRED as distributed by MLS GRID #12492112 Report a problem | ||
| 2/27/2016 | Listing removed | $39,900$8/sqft |
Source: Coldwell Banker Home Trust Realtors #08963298 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2023 | $5,735 -11.3% | $115,429 +13.2% |
| 2022 | $6,467 -4.1% | $101,963 +20.1% |
| 2021 | $6,744 -5.4% | $84,909 +11.4% |
Find assessor info on the county website
Neighborhood: 60046
Nearby schools
GreatSchools rating
- 5/10William L Thompson SchoolGrades: PK-5Distance: 1 mi
- 4/10Peter J Palombi SchoolGrades: 6-8Distance: 0.9 mi
- 10/10Grayslake North High SchoolGrades: 9-12Distance: 2.1 mi
Schools provided by the listing agent
- Elementary: William L Thompson School
- Middle: Peter J Palombi School
- High: Grayslake North High School
- District: 41
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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Estimated market value
$505,300
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$505,300
- Illinois
- Lake County
- Lake Villa
- 60046
- 116 E Monaville Rd