Located in Grayslake, Illinois, this single-family frame home was built in 1940 and offers 4 bedrooms, 3 bathrooms, and approximately 2,852 square feet of living space on a 6,250 square foot lot. The property features a finished basement and is currently vacant. It will be delivered vacant at closing. Showings are available by appointment only.

Financial Snapshot

The property is offered at a marketing price of $259,000. The projected after-repair value (ARV) is $400,000, supported by nearby comparable activity:

• 33805 N Oak St, Grayslake, IL 60030 – Listed at $354,000, AS-IS (currently under contract)

Estimated rental income is $3,500 per month, with annual property taxes of $6,994.

Property Overview

This is a spacious single-family home with strong fundamentals. Major mechanical components are in good condition, including HVAC and water heaters replaced approximately one year ago. The property has copper plumbing throughout, a solid roof, and functional plumbing and electrical systems. The finished basement adds usable living space and flexibility. While the home was previously damaged by a family member of the owner, the occupant has vacated and the property will benefit from targeted repairs and cosmetic updates to maximize value.

Investment Highlights

This is a compelling value-add opportunity in a desirable Lake County market. With 4 bedrooms and 3 full bathrooms, the layout supports strong resale demand and premium rental potential. Investors can capitalize on the home’s size, solid mechanicals, and finished basement to push value toward the $400,000 ARV, making this a strong candidate for both fix-and-flip and buy-and-hold strategies.

Market Context

Grayslake is a stable and growing suburban market with consistent buyer and renter demand driven by strong schools, Metra access, and proximity to major employment corridors. Single-family homes with larger square footage and multiple bathrooms remain in high demand, supporting both appreciation and rental stability. Limited inventory in the area continues to favor well-renovated properties at resale.

Terms

Cash or hard-money buyers only. Seller financing is not available.

Contact

For all inquiries, showing requests, or additional information, please call 1-888-775-4570 or email sales@sharpedgeproperty.com.