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$775,000

For Sale - Active
17049 W Edwards Rd, Antioch, IL 60002
2 Beds
1 Bath
4,730 Square Feet
0.00 Acres Lot
Built in 1907
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: May 30, 2025 at 09:48AM

Investment Summary


Monthly Cash Flow
-$1,923
Cap Rate
3.3%
Cash-on-Cash Return
-12.9%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.5%

Property Description


0.00 Acres Lot
Built in 1907
For Sale - Active
Units n/a

Country charm, a working farm, but close to everything with newer upgrades! Owners retired. 5-acres with 2-homes in a quiet country setting in picturesque Newport Township just off Hunt Club Rd with tall oaks & just 10 minutes from Gurnee Mills, Pleasant Prairie, Antioch & 1-minute to 94! A newer 335 acre Forest Preserve across the road with a 2 mile hiking path. Upgraded with 2-200 amp services, new well pump 2021, newer steel roofs, windows, siding, doors, tankless water heaters & more. The front home is 1730 sq ft with 2-bdrms, (could add a 3rd easily), full bath, living rm, 10x20 formal dinning rm & a big sunny 15x26 kitchen added new in 2010 w/bkfst bar, walkin pantry & loads of cabinets. Wood Floors throughout except ceramic kitchen with a new boiler also in 2010 with radiant heat & forced air throughout. New fridge 2023, new dishwasher 2024. The Rear house is about 3000 sqft. A guest house with 3-full apts, an 18x23 office or game room with private bath, & a laundry room. Current income is $2610/mo. from the 3 apts. Upgraded 200 amp electric & plumbing. New tankless water heater 2021, new steel roofs 2016, newer windows, siding & doors etc. Oil forced air heat & window A/C units. And the separate 70x24 ft cedar barn has an insulated 20x22 shop with a forced air wood burner, one tall bay with a 9000 lbs car lift for the hobby mechanic, & 2 garage bays for winter. 3-storage sheds & a newer solar powered insulated & washable chicken coop for about 25 layers sit behind the barn. The farm is also set up for bee keeping and is a working farm zoned Ag. Out back is a covered picnic shelter for parties & cookouts, along with about an acre of mature woods & a live creek runs along the East side of the farm.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage, On Site, Detached
  • Garage Spaces: 3
  • Spaces Total: 3

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Attic: Yes
  • Basement: Yes
  • Basement Description: Sump Pump, None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Roof Material: Asphalt, Metal

Land Information

  • Land Use: Residential
  • Land Use Subtype: Rural/Agricultural

Lot Information

  • Parcel ID: 0308400005
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Farmhouse
  • Year Built: 1907

Tax Information

  • Annual Tax: $8,467

Utilities

  • Water & Sewer: Well
  • Heating: Oil, Forced Air
  • Cooling: Ceiling Fan(s), Wall Unit(s)

Location

  • County: Lake

Listing Details


Listed by:
Kathleen Bak
Gates and Gables Realty
(847) 609-8378

Source:
Midwest Real Estate Data (MRED)
MLS#: 12007693
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$1,923
Cap Rate
3.3%
Cash-on-Cash Return
-12.9%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.5%

Purchase Details

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Purchase price:
$775,000
Amount financed:
-$620,000
Down payment:
$155,000
Closing costs:
$23,250
Rehab costs:
$0
Initial cash invested:
$178,250
Square feet:
4,730
Cost per square foot:
$164
Monthly rent per square foot:
$0.87

Financing Details

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Loan amount:
$620,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$4,046
Property tax:
$706
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,039

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$706-$8,467
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (42%)
42%-$1,731-$20,767

Cash Flow


Monthly Yearly
Net operating income:
$2,123 $25,476
Mortgage payments:
-$4,046 -$48,552
Cash flow:
$1,923 $23,076