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$ 749,900
Est. payment /mo
New
27717 W Grass Lake DR Spring Grove, IL 60081
4 Beds
4 Baths
1.13 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12685454
Bedrooms 4
Year Built 1961
Annual Tax Amount $12,918
Tax Year 2024
Lot Size 1.130 Acres
Lot Dimensions 25X645X131X623
Property Sub-Type Two to Four Units
Property Description
Rare Chain O'Lakes waterfront cottage compound on Grass Lake! This unique property features three furnished short-term rental units on approximately 1.13 acres with approximately 131 feet of waterfront frontage, beach access, gazebo, patio/outdoor gathering areas, dock/floating dock access, and ample parking. Currently operated as The Lake-Heim / Lotus Cottages, the property includes a 2-bedroom cabin, a 1-bedroom cabin, and an additional 1-bedroom lake cottage. 2025 Airbnb total earnings were approximately $60,423, with meaningful year-over-year growth and additional upside through improved occupancy, rate management, and continued STR operation. Ideal for an investor, owner-user, family lakefront retreat, or buyer seeking personal use with rental income from the additional units. Former fourth structure/rebuild potential may offer additional upside, subject to buyer verification and municipal approval.
Location
State IL
County Lake
Area Spring Grove
Rooms
Basement None
Interior
Heating Natural Gas
Fireplace N
Building
Dwelling Type Two to Four Units
Building Description Aluminum Siding, No
Sewer Public Sewer
Water Well
Structure Type Aluminum Siding
New Construction false
Schools
Elementary Schools Lotus
High Schools Grant Community High School
School District 114 , 114, 124
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Jason Bitton of RE/MAX Suburban
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