Real Estate Investment Properties for Sale in Waukegan, IL

Looking for investment property in Waukegan, IL with high ROI ?

Explore a variety of short-term homes & houses in Waukegan, IL. Invest wisely with VRBO & Waukegan, IL Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Waukegan, IL

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
523 S McAlister Avenue WAUKEGAN, IL This is the one you've been waiting for! Ideally located across from Roosevelt Park, this ...	3 beds \| 2 baths \| 1,194 sq.ft.	$268,000	Airbnb cash on cash: 2.43% Traditional cash on cash: 6.06% Airbnb Rental Income: $1756 Traditional Rental Income: $2194 Airbnb ROI: 2.43% Traditional ROI: 6.06%
416 Hull Ct WAUKEGAN, IL Cozy and spacious home features 3 Bedrooms with hardwood floors, 1 bathroom, Eat in kitche...	3 beds \| 1 baths \| 2,253 sq.ft.	$285,000	Airbnb cash on cash: 2.17% Traditional cash on cash: 3.79% Airbnb Rental Income: $1756 Traditional Rental Income: $1709 Airbnb ROI: 2.17% Traditional ROI: 3.79%
968 Lorraine Ave WAUKEGAN, IL	3 beds \| 1 baths \| 1,356 sq.ft.	$265,000	Airbnb cash on cash: 2.58% Traditional cash on cash: 4.23% Airbnb Rental Income: $1756 Traditional Rental Income: $1686 Airbnb ROI: 2.58% Traditional ROI: 4.23%
2324 S BONNIE BROOK LANE WAUKEGAN, IL Invest with success and buy through Auction.com. This bank-owned investment property is a ...	3 beds \| 3 baths \| 2,739 sq.ft.	$421,000	Airbnb cash on cash: -0.33% Traditional cash on cash: 4.37% Airbnb Rental Income: $1756 Traditional Rental Income: $3130 Airbnb ROI: -0.33% Traditional ROI: 4.37%
1938 N Jackson Street WAUKEGAN, IL Come take a look at this inviting home! "A great home and a great find! Ideally located ne...	3 beds \| 2 baths \| 1,096 sq.ft.	$315,000	Airbnb cash on cash: 0.75% Traditional cash on cash: 3.64% Airbnb Rental Income: $1756 Traditional Rental Income: $2132 Airbnb ROI: 0.75% Traditional ROI: 3.64%
2321 Walnut St WAUKEGAN, IL This Brick Beauty is meticulously well kept!! This spacious tri-level home features living...	3 beds \| 2 baths \| 1,650 sq.ft.	$325,000	Airbnb cash on cash: 1.27% Traditional cash on cash: 2.97% Airbnb Rental Income: $1756 Traditional Rental Income: $1792 Airbnb ROI: 1.27% Traditional ROI: 2.97%
2211 N Bonnie Brook Ln WAUKEGAN, IL Cute 2 bedroom/2 baths Brick Cap Cod in a serene subdivision of Bonnie Brook Golf Course ...	3 beds \| 2 baths \| 1,950 sq.ft.	$298,900	Airbnb cash on cash: 1.99% Traditional cash on cash: 2.37% Airbnb Rental Income: $1756 Traditional Rental Income: $1381 Airbnb ROI: 1.99% Traditional ROI: 2.37%
614 N County Street WAUKEGAN, IL Nestled on a secluded 0.33-acre lot, this inviting ranch home offers comfort, space, and c...	2 beds \| 2 baths \| 2,480 sq.ft.	$205,577	Airbnb cash on cash: 2.69% Traditional cash on cash: 5.92% Airbnb Rental Income: $1816 Traditional Rental Income: $1953 Airbnb ROI: 2.69% Traditional ROI: 5.92%
557 W Water Street WAUKEGAN, IL Welcome to this bright and spacious 4-Bedroom home featuring a 2.5-car garage w/additional...	4 beds \| 2 baths \| 1,200 sq.ft.	$219,900	Airbnb cash on cash: 6.06% Traditional cash on cash: 7.51% Airbnb Rental Income: $2515 Traditional Rental Income: $2209 Airbnb ROI: 6.06% Traditional ROI: 7.51%
1425 N Mcaree Road WAUKEGAN, IL	3 beds \| 1 baths \| 1,275 sq.ft.	$257,799	Airbnb cash on cash: 1.19% Traditional cash on cash: 5.03% Airbnb Rental Income: $1756 Traditional Rental Income: $2207 Airbnb ROI: 1.19% Traditional ROI: 5.03%
1504 W Glen Flora Avenue WAUKEGAN, IL Three parcels of property being bundled together. 1504 Glen Flora is zoned residential wit...	4 beds \| 1 baths \| 1,174 sq.ft.	$499,999	Airbnb cash on cash: 0.8% Traditional cash on cash: 0.83% Airbnb Rental Income: $2515 Traditional Rental Income: $1918 Airbnb ROI: 0.8% Traditional ROI: 0.83%
1712 11th Street WAUKEGAN, IL Buyer's Mortgage fell thru. SHOWS VERY WELL.	3 beds \| 1 baths \| 1,200 sq.ft.	$229,900	Airbnb cash on cash: 2.43% Traditional cash on cash: 5.88% Airbnb Rental Income: $1756 Traditional Rental Income: $2023 Airbnb ROI: 2.43% Traditional ROI: 5.88%
968 Judge Avenue WAUKEGAN, IL BEAUTIFUL, SPACIOUS 4 BR. 1.5 BA. REHABBED HOME IN WAUKEGAN WITH DETACHED ELECTRIC GARAGE....	4 beds \| 2 baths \| 1,356 sq.ft.	$229,500	Airbnb cash on cash: 5.87% Traditional cash on cash: 7.91% Airbnb Rental Income: $2515 Traditional Rental Income: $2351 Airbnb ROI: 5.87% Traditional ROI: 7.91%
12640 W Wadsworth Rd WAUKEGAN, IL 12640 W Wadsworth Rd, WAUKEGAN, IL 60087 \| Other	N/A beds \| N/A baths \| N/A	$750,000	Airbnb cash on cash: N/A Traditional cash on cash: -2.39% Airbnb Rental Income: $null Traditional Rental Income: $695 Airbnb ROI: N/A Traditional ROI: -2.39%
2946 W Country Club Ave WAUKEGAN, IL 2946 W Country Club Ave, WAUKEGAN, IL 60087 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$39,000	Airbnb cash on cash: N/A Traditional cash on cash: 11.97% Airbnb Rental Income: $null Traditional Rental Income: $707 Airbnb ROI: N/A Traditional ROI: 11.97%
1213 Grand Ave WAUKEGAN, IL 1213 Grand Ave, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$559,000	Airbnb cash on cash: N/A Traditional cash on cash: -1.55% Airbnb Rental Income: $null Traditional Rental Income: $980 Airbnb ROI: N/A Traditional ROI: -1.55%
603 N Austin Ave WAUKEGAN, IL 603 N Austin Ave, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$199,900	Airbnb cash on cash: N/A Traditional cash on cash: 1.41% Airbnb Rental Income: $null Traditional Rental Income: $972 Airbnb ROI: N/A Traditional ROI: 1.41%
1730 W Beach Rd WAUKEGAN, IL 1730 W Beach Rd, WAUKEGAN, IL 60087 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$152,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.8% Airbnb Rental Income: $null Traditional Rental Income: $972 Airbnb ROI: N/A Traditional ROI: 2.8%
601 Lakehurst Rd WAUKEGAN, IL 601 Lakehurst Rd, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$999,500	Airbnb cash on cash: N/A Traditional cash on cash: -2.59% Airbnb Rental Income: $null Traditional Rental Income: $716 Airbnb ROI: N/A Traditional ROI: -2.59%
3027 Belvidere Rd WAUKEGAN, IL 3027 Belvidere Rd, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$300,000	Airbnb cash on cash: N/A Traditional cash on cash: -1.08% Airbnb Rental Income: $null Traditional Rental Income: $705 Airbnb ROI: N/A Traditional ROI: -1.08%
0 Brookside Ave WAUKEGAN, IL 0 Brookside Ave, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| 0 sq.ft.	$700,000	Airbnb cash on cash: N/A Traditional cash on cash: -2.32% Airbnb Rental Income: $null Traditional Rental Income: $705 Airbnb ROI: N/A Traditional ROI: -2.32%
33564 Greenleaf St WAUKEGAN, IL 33564 Greenleaf St, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| N/A	$44,900	Airbnb cash on cash: N/A Traditional cash on cash: 10.13% Airbnb Rental Income: $null Traditional Rental Income: $705 Airbnb ROI: N/A Traditional ROI: 10.13%
3101 Country Club Ln WAUKEGAN, IL 3101 Country Club Ln, WAUKEGAN, IL 60087 \| Other	N/A beds \| N/A baths \| N/A	$150,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.05% Airbnb Rental Income: $null Traditional Rental Income: $705 Airbnb ROI: N/A Traditional ROI: 1.05%
205 S Park Ave WAUKEGAN, IL 205 S Park Ave, WAUKEGAN, IL 60085 \| Single Family Residential	3 beds \| 1 baths \| 1,230 sq.ft.	$184,000	Airbnb cash on cash: 3.53% Traditional cash on cash: 5.1% Airbnb Rental Income: $1756 Traditional Rental Income: $1550 Airbnb ROI: 3.53% Traditional ROI: 5.1%
1507 W York House Rd WAUKEGAN, IL 1507 W York House Rd, WAUKEGAN, IL 60087 \| Other	N/A beds \| N/A baths \| N/A	$60,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.18% Airbnb Rental Income: $null Traditional Rental Income: $715 Airbnb ROI: N/A Traditional ROI: 7.18%
419 Keller Ave WAUKEGAN, IL 419 Keller Ave, WAUKEGAN, IL 60085 \| Other	N/A beds \| N/A baths \| N/A	$345,750	Airbnb cash on cash: N/A Traditional cash on cash: -1.23% Airbnb Rental Income: $null Traditional Rental Income: $746 Airbnb ROI: N/A Traditional ROI: -1.23%
621 W Keith Avenue WAUKEGAN, IL Investment Opportunity for a charming 5-bedroom, 2-bath bungalow with great character. The...	5 beds \| 2 baths \| 2,200 sq.ft.	$241,000	Airbnb cash on cash: 6.8% Traditional cash on cash: 8.03% Airbnb Rental Income: $3169 Traditional Rental Income: $2731 Airbnb ROI: 6.8% Traditional ROI: 8.03%

Real Estate investment in Waukegan, IL

There are 97 properties for sale in the city of Waukegan . The median list price in Waukegan is $259,866 and the average price per square foot is $205. In June 2026, the average monthly cash on cash return in Waukegan is 5.00%. The average monthly rental income in Waukegan is $1,888.

Waukegan, IL Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 97 investment properties available for sale in Waukegan.

In 2026, the best neighborhood to buy investment property is WAUKEGAN.

The ROI for Long-Term is higher than the Short-Term in Waukegan with average rental income of $1,888.

Your search for investment property begins and ends here

Investment Property for Sale in Waukegan, IL

523 S McAlister Avenue

WAUKEGAN, IL

3 beds | 2 baths | 1,194 sq.ft.

$268,000

Airbnb cash on cash: 2.43%

Traditional cash on cash: 6.06%

Airbnb Rental Income: $1756

Traditional Rental Income: $2194

Airbnb ROI: 2.43%

Traditional ROI: 6.06%

416 Hull Ct

WAUKEGAN, IL

3 beds | 1 baths | 2,253 sq.ft.

$285,000

Airbnb cash on cash: 2.17%

Traditional cash on cash: 3.79%

Airbnb Rental Income: $1756

Traditional Rental Income: $1709

Airbnb ROI: 2.17%

Traditional ROI: 3.79%

968 Lorraine Ave

WAUKEGAN, IL

3 beds | 1 baths | 1,356 sq.ft.

$265,000

Airbnb cash on cash: 2.58%

Traditional cash on cash: 4.23%

Airbnb Rental Income: $1756

Traditional Rental Income: $1686

Airbnb ROI: 2.58%

Traditional ROI: 4.23%

2324 S BONNIE BROOK LANE

WAUKEGAN, IL

3 beds | 3 baths | 2,739 sq.ft.

$421,000

Airbnb cash on cash: -0.33%

Traditional cash on cash: 4.37%

Airbnb Rental Income: $1756

Traditional Rental Income: $3130

Airbnb ROI: -0.33%

Traditional ROI: 4.37%

1938 N Jackson Street

WAUKEGAN, IL

3 beds | 2 baths | 1,096 sq.ft.

$315,000

Airbnb cash on cash: 0.75%

Traditional cash on cash: 3.64%

Airbnb Rental Income: $1756

Traditional Rental Income: $2132

Airbnb ROI: 0.75%

Traditional ROI: 3.64%

2321 Walnut St

WAUKEGAN, IL

3 beds | 2 baths | 1,650 sq.ft.

$325,000

Airbnb cash on cash: 1.27%

Traditional cash on cash: 2.97%

Airbnb Rental Income: $1756

Traditional Rental Income: $1792

Airbnb ROI: 1.27%

Traditional ROI: 2.97%

2211 N Bonnie Brook Ln

WAUKEGAN, IL

3 beds | 2 baths | 1,950 sq.ft.

$298,900

Airbnb cash on cash: 1.99%

Traditional cash on cash: 2.37%

Airbnb Rental Income: $1756

Traditional Rental Income: $1381

Airbnb ROI: 1.99%

Traditional ROI: 2.37%

614 N County Street

WAUKEGAN, IL

2 beds | 2 baths | 2,480 sq.ft.

$205,577

Airbnb cash on cash: 2.69%

Traditional cash on cash: 5.92%

Airbnb Rental Income: $1816

Traditional Rental Income: $1953

Airbnb ROI: 2.69%