106 W State Road, Island Lake, IL 60042

Island Lake
Local realty services provided by:Results Realty ERA Powered
106 W State Road,Island Lake, IL 60042
$850,000
  • 9 Beds
  • 6 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: kelly vance
Office: century 21 integra
MLS#:12756065
Source:MLSNI

Price summary

  • Price:$850,000

About this home

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.

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Home facts

  • Year built:1945
  • Listing ID #:12756065
  • Updated:October 06, 2026 at 11:20 AM

Rooms and interior

  • Bedrooms:9
  • Total bathrooms:6
  • Full bathrooms:5
  • Half bathrooms:1
  • Rooms Total:27
  • Basement Description:Finished

Heating and cooling

  • Heating:Natural Gas

Structure and exterior

  • Roof:Asphalt
  • Year built:1945
  • Lot Features:Corner Lot
  • Foundation Description:Block, Concrete Perimeter

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$850,000
  • Tax amount:$9,760 (2025)

Parking

  • Total parking spaces:15
  • Parking description:Attached Garage, Garage, Parking Lot, Unassigned
  • Garage:Yes
  • Garage spaces:1
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