Backup offers
#12334610, Ryan Widerberg, Listing office: eXp Realty - Chicago North Ave
Property details
About 422 Locust St
Welcome to 422 Locust Street, a beautifully updated two-unit property located in the heart of Elgin. This turnkey building presents a rare opportunity for both owner-occupants and investors, offering thoughtful upgrades throughout and strong rental potential. Unit 1 features a spacious and unique two-story layout with a private entrance, giving the feel of a single-family home. It includes three oversized bedrooms, two updated bathrooms, a modern kitchen with brand new waterproof luxury vinyl plank flooring, and upgraded lighting throughout. Unit 2 is a fully remodeled studio with its own private entrance, showcasing quartz countertops, smart appliances, waterproof LVP flooring, and a contemporary bathroom-making it an ideal high-end rental. Both units will be delivered vacant at closing, providing maximum flexibility to rent at current market rates or to house hack. The property has been meticulously maintained and thoughtfully improved with major upgrades, including a new water heater (2024), a high-efficiency Carrier HVAC system with a two-stage gas furnace (2022), a Nest thermostat, Aprilaire humidifier, newer windows, and a freshly built and painted wraparound porch. The exterior features a freshly blacktopped driveway, a detached three-car garage, and an additional ten parking spaces-offering rare and valuable off-street parking for tenants or guests. The full basement includes laundry, extra storage, and a separate exterior entrance, creating a value-add opportunity for future living space or rental income. Rental comps in the area demonstrate strong upside potential. Unit one: MLS #12286435, a 3BD/1BA property, rented for $2,000 in just 22 days, while MLS #12281539, a 3BD/1BA with only a one-car garage, supports similar pricing. Unit 2: For the studio unit, MLS #12198381 rented at $995 with no garage, driveway, or privacy, and MLS #12065176 rented in just 26 days without parking. COMPETITIVE ADVANTAGE: the units at 422 Locust Street offer more modern finishes, private entrances, ample off-street parking, 3 CAR GARAGE with potential to be rented and overall better value-suggesting even higher rental potential. Located near downtown Elgin, Grand Victoria Casino, Metra, I-90, shops, and restaurants, this property offers both convenience and long-term value. With excellent projected rental income and flexible occupancy options, this is a prime opportunity to own a well-maintained, income-producing property in a desirable and growing market.
Highlights
Home typeResidential
HeatingNatural Gas
StatusActive
(New)
(New)
BasementYes
ParkingNo Garage, On Site, Garage Owned, Detached, Garage
MLS #12413890
Garage3 spaces
Summary
- Basement: Yes
- Total Bedroom Count: 3
- Garage Space: 3 spaces
- Parking: No Garage, On Site, Garage Owned, Detached, Garage
- Heating: Natural Gas
- List Price: $399,000
- Annual Tax Amount: $5,619
- Tax Year: 2023
- Directions: Take IL31 South from Algonquin into downtown Elgin. Turn left on Locust Street-422 Locust St will be on your right.
- MLS Number: 12413890
- MLS Name: MRED
- Office Name: MPower Residential Brokerage LLC
- Office Phone: (312) 498-8473
- Listing Agent: Valeria Sanchez
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Apr 01, 2019 | Home Sold | $195,000 |
| May 31, 2006 | Home Sold | $145,500 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $75,656 | $5,619 |
| 2022 | $62,630 | $4,910 |
| 2021 | $58,554 | $4,688 |
| 2020 | $55,899 | $4,550 |
| 2019 | $53,247 | $4,366 |
| 2018 | $50,162 | $4,260 |
| 2017 | $47,422 | $4,260 |
History based on county public records data.
Nearby schools
3
Lowrie Elementary School
Public District KG-6
0.5 mi
•264 Oak St
4
Washington Elementary School
Public District KG-6
0.5 mi
•819 W Chicago St
2
Channing Elementary School
Public District KG-6
0.8 mi
•63 S Channing St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $36,836. The most common annual income of people living in Elgin, IL is less than $<35k. Typical family type is single, no kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
47%
<35k
44%
35k-100k
8%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
54%
Single, No Kids
19%
Single, with Kids
11%
Married, No Kids
16%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
20%
<11 yrs old
9%
12-17 yrs old
24%
18-34 yrs old
33%
35-64 yrs old
14%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
UFC- Pro Boxing
Where do the neighbors shop?
Family Dollar
Chico's
Burlington
Where do the neighbors go to eat?
Church's Chicken
Burger King
Bob Evans
What do the neighbors drive?
Cadillac
Buick
Oldsmobile
What do the neighbors listen to?
Jazz
Urban Contemporary
News
All data provided by Home Junction and Claritas
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Frequently asked questions
Living in Elgin, IL
Elgin's transport infrastructure includes a variety of options for both private and public transit. The city's road network facilitates easy commuting and travel, with access to major highways. Public transportation services are available, with schedules designed to accommodate the needs of residents. The community also features areas with high walkability, and there are initiatives to enhance bikeability across the city. Ride-sharing services are present, providing additional transportation options for the community.
The community benefits from a solid educational system, with numerous public and private schools providing a range of educational opportunities. Elgin is home to several healthcare facilities, offering services that include urgent care, primary care, and specialized medical treatments. The city also features a network of public libraries and a variety of retail and dining options that showcase the local culture. City initiatives are in place to continually improve services to meet the evolving needs of Elgin's diverse population.
Elgin is celebrated for its rich cultural heritage and community spirit. The city prides itself on its vibrant downtown area, which serves as a hub for local events and festivals that reflect the community's diverse cultural identity. The presence of historical buildings and landmarks contributes to the unique character of Elgin, offering residents and visitors a glimpse into the city's storied past.
Elgin offers a diverse housing market with a blend of historical and contemporary architectural styles. The housing landscape features a selection of single-family homes, which are prevalent, alongside a mix of apartments and townhouses that cater to various preferences. The architectural styles range from Victorian and Colonial to modern constructions, with a significant portion of homes built in the late 20th century. The homeownership rate in Elgin is robust, with a substantial majority of residents owning their homes, while a smaller percentage are renters.
About 422 Locust St
The listing price of 422 Locust St property is $399,000.
The property 422 Locust St is a house located in Elgin, Illinois, 60123.
Active Listing: 422 Locust St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 422 Locust St are: Lowrie Elementary School (GreatSchools Rating 3/10), Washington Elementary School (GreatSchools Rating 4/10), Channing Elementary School (GreatSchools Rating 2/10), Abbott Middle School (GreatSchools Rating 1/10), Ellis Middle School (GreatSchools Rating 4/10), Kimball Middle School (GreatSchools Rating 2/10), Larkin High School (GreatSchools Rating 2/10), South Elgin High School (GreatSchools Rating 5/10), Elgin High School (GreatSchools Rating 3/10).
According to the records, the last property tax for 2023 is $5,619 (source: MLS/based on county public records data).
The last sale was on April 1, 2019 for $195,000 (source: MLS/tax record).
The property at 422 Locust St has 3 bedrooms and 3 bathrooms.
This home is located at 422 Locust St in Elgin, IL and zip code 60123. Features: 3 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since July 8, 2025 and is currently priced at $399,000.
While more than 51 listings in Elgin, IL in June 2025 were sold above asking price, there were more than 21 listings sold at asking price, and more than 37 were sold below. The inventory of homes for sale in Elgin, IL between May and June 2025 increased by 3.9%. In June 2025, listings were on the market for 21 days. During the same period, the median list price in this real estate market was $338,750.
From Rocket Homes Real Estate and based on county public records data.