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.
Property Details
Price:
$850,000
MLS #:
MRD12756065
Status:
Active
Beds:
9
Baths:
6
Type:
Multi Family
Neighborhood:
islandlake
Listed Date:
Sep 11, 2026
Year Built:
1945
See this Listing
Schools
School District:
118
Interior
Heating
Natural Gas
Exterior
Construction Materials
Brick, Block
Garage Spaces
1
Lot Features
Corner Lot
Parking Features
Garage Door Opener, Garage, Yes, Garage Owned, Attached, Unassigned, Guest, Parking Lot, Owned
Parking Spots
15
Parking Total
15
Roof
Asphalt
Financial
Tax Year
2025
Taxes
$9,760
Map
Community
- Address106 W State Road Island Lake IL
- CityIsland Lake
- CountyMcHenry
- Zip Code60042
Market Summary
Current real estate data for Multi Family in Island Lake as of Oct 06, 2026
1
Multi Family Listed
25
Avg DOM
$850,000
Avg List Price
Property Summary
- 106 W State Road Island Lake IL is a Multi Family for sale in Island Lake, IL, 60042. It is listed for $850,000
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Copyright 2026. All rights reserved.
106 W State Road
Island Lake, IL

