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
118 S FULTON Avenue WAUKEGAN, IL NICE SPACIOUS HOME BIG BACK YARD. NEWER FURNACE PLUMBING AND NEWER ROOF ON HOUSE. FAM...	3 beds \| 3 baths \| N/A	$257,027	Airbnb cash on cash: 0.39% Traditional cash on cash: 8.67% Airbnb Rental Income: $1233 Traditional Rental Income: $2846 Airbnb ROI: 0.39% Traditional ROI: 8.67%
1241 S Elmwood Avenue WAUKEGAN, IL Opportunity awaits with this 3-bedroom, 2-bath home featuring a 1-car garage, offering a g...	3 beds \| 2 baths \| 1,056 sq.ft.	$199,900	Airbnb cash on cash: 1.18% Traditional cash on cash: 7.36% Airbnb Rental Income: $1233 Traditional Rental Income: $2011 Airbnb ROI: 1.18% Traditional ROI: 7.36%
1913 Apache Road WAUKEGAN, IL Fantastic 2 Bedrooms and 1 bath well kept north waukegan ,feature wood laminate flooring ,...	2 beds \| 1 baths \| 768 sq.ft.	$210,500	Airbnb cash on cash: 2.65% Traditional cash on cash: 5.17% Airbnb Rental Income: $1637 Traditional Rental Income: $1677 Airbnb ROI: 2.65% Traditional ROI: 5.17%
714 Glen Rock Avenue WAUKEGAN, IL Well-maintained 4-unit building located in the heart of Waukegan. All units are currently ...	5 beds \| 4 baths \| N/A	$335,000	Airbnb cash on cash: 5.55% Traditional cash on cash: 9.73% Airbnb Rental Income: $3398 Traditional Rental Income: $3960 Airbnb ROI: 5.55% Traditional ROI: 9.73%
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.	$275,000	Airbnb cash on cash: 0.66% Traditional cash on cash: 5.89% Airbnb Rental Income: $1233 Traditional Rental Income: $2194 Airbnb ROI: 0.66% Traditional ROI: 5.89%
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: -1.44% Traditional cash on cash: 4.37% Airbnb Rental Income: $1233 Traditional Rental Income: $3130 Airbnb ROI: -1.44% Traditional ROI: 4.37%
634 W Ridgeland Avenue WAUKEGAN, IL Beautiful home for sale, 3 Bedrooms, chimney in the living room, dining room, finished att...	4 beds \| 1 baths \| N/A	$274,900	Airbnb cash on cash: 1.39% Traditional cash on cash: 2.34% Airbnb Rental Income: $1707 Traditional Rental Income: $1480 Airbnb ROI: 1.39% Traditional ROI: 2.34%
3370 W Brooke Avenue #410 WAUKEGAN, IL This bright and spacious fourth-floor condo offers a fantastic opportunity for comfortable...	1 beds \| 1 baths \| 612 sq.ft.	$119,900	Airbnb cash on cash: 0.38% Traditional cash on cash: 5.8% Airbnb Rental Income: $1039 Traditional Rental Income: $1304 Airbnb ROI: 0.38% Traditional ROI: 5.8%
702 Franklin Street WAUKEGAN, IL	4 beds \| 2 baths \| 2,614 sq.ft.	$274,900	Airbnb cash on cash: 1.6% Traditional cash on cash: 6.61% Airbnb Rental Income: $1707 Traditional Rental Income: $2532 Airbnb ROI: 1.6% Traditional ROI: 6.61%
520 4th Street WAUKEGAN, IL Investor's dream! This spacious four-bedroom, two-bath home offers over 1,500 square feet ...	4 beds \| 2 baths \| 1,536 sq.ft.	$259,900	Airbnb cash on cash: 1.94% Traditional cash on cash: 6.86% Airbnb Rental Income: $1707 Traditional Rental Income: $2442 Airbnb ROI: 1.94% Traditional ROI: 6.86%
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.	$599,900	Airbnb cash on cash: -0.69% Traditional cash on cash: 0.53% Airbnb Rental Income: $1707 Traditional Rental Income: $1918 Airbnb ROI: -0.69% Traditional ROI: 0.53%
547 S Martin Luther King Jr Avenue WAUKEGAN, IL Experience a vibrant lifestyle surrounded by culture, music, cuisine, and energy in this t...	5 beds \| 2 baths \| 1,722 sq.ft.	$264,200	Airbnb cash on cash: 7.63% Traditional cash on cash: 7.08% Airbnb Rental Income: $3398 Traditional Rental Income: $2504 Airbnb ROI: 7.63% Traditional ROI: 7.08%
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.	$259,500	Airbnb cash on cash: 2.34% Traditional cash on cash: 6.9% Airbnb Rental Income: $1707 Traditional Rental Income: $2351 Airbnb ROI: 2.34% Traditional ROI: 6.9%
505 Lorraine Avenue WAUKEGAN, IL Move-in ready 3 bedroom & 1 bathroom cape cod. Main floor has hardwood floors throughout m...	3 beds \| 1 baths \| 1,048 sq.ft.	$267,900	Airbnb cash on cash: 0.52% Traditional cash on cash: 4.56% Airbnb Rental Income: $1233 Traditional Rental Income: $1859 Airbnb ROI: 0.52% Traditional ROI: 4.56%
2625 Varonen Avenue WAUKEGAN, IL MOVE-IN READY SINGLE FAMILY HOME OFFERS 3 BEDROOMS AND 1.5 BATHS, ALONG WITH A 1-CAR ATTAC...	3 beds \| 2 baths \| 1,225 sq.ft.	$290,000	Airbnb cash on cash: -0.04% Traditional cash on cash: 2.91% Airbnb Rental Income: $1233 Traditional Rental Income: $1645 Airbnb ROI: -0.04% Traditional ROI: 2.91%
728 N Ash Street WAUKEGAN, IL Great opportunity, 4 Bedrooms 2 bathrooms 2 story home. Large rooms, family sized kitchen,...	4 beds \| 2 baths \| 1,814 sq.ft.	$180,000	Airbnb cash on cash: 3.61% Traditional cash on cash: 8.5% Airbnb Rental Income: $1707 Traditional Rental Income: $2071 Airbnb ROI: 3.61% Traditional ROI: 8.5%
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: 7.64% Traditional cash on cash: 8.03% Airbnb Rental Income: $3398 Traditional Rental Income: $2731 Airbnb ROI: 7.64% Traditional ROI: 8.03%
905 S Martin Luther King Jr Avenue WAUKEGAN, IL Charming 4-bedroom, 2-bath ranch in Waukegan offering space, comfort, and versatility! Ste...	3 beds \| 2 baths \| 1,464 sq.ft.	$249,000	Airbnb cash on cash: 0.02% Traditional cash on cash: 6.51% Airbnb Rental Income: $1233 Traditional Rental Income: $2365 Airbnb ROI: 0.02% Traditional ROI: 6.51%
2716 Mohawk Road WAUKEGAN, IL MULTIPLE OFFERS RECEIVED. Highest and best offer by Sunday April 26th at 8pm.More than...	2 beds \| 2 baths \| 1,536 sq.ft.	$240,000	Airbnb cash on cash: 1.88% Traditional cash on cash: 6.26% Airbnb Rental Income: $1637 Traditional Rental Income: $2169 Airbnb ROI: 1.88% Traditional ROI: 6.26%
1425 10th Street WAUKEGAN, IL Solid 5-unit investment property with all units currently occupied and producing consisten...	8 beds \| 5 baths \| N/A	$519,000	Airbnb cash on cash: 2.67% Traditional cash on cash: 8.07% Airbnb Rental Income: $3398 Traditional Rental Income: $5261 Airbnb ROI: 2.67% Traditional ROI: 8.07%
3370 W Brooke Avenue #218 WAUKEGAN, IL Beautiful and Spacious condo. Has 3 bedrooms, and 1 bathroom and great kitchen. Comes with...	3 beds \| 1 baths \| 864 sq.ft.	$165,000	Airbnb cash on cash: 2.44% Traditional cash on cash: 8.67% Airbnb Rental Income: $1233 Traditional Rental Income: $1820 Airbnb ROI: 2.44% Traditional ROI: 8.67%
2708 W Lucia Avenue WAUKEGAN, IL Welcome to beautiful Hidden Glen Subdivision. Nested on a quiet street, this well-maintain...	3 beds \| 3 baths \| 2,728 sq.ft.	$350,000	Airbnb cash on cash: -1.09% Traditional cash on cash: 5.47% Airbnb Rental Income: $1233 Traditional Rental Income: $2994 Airbnb ROI: -1.09% Traditional ROI: 5.47%

Real Estate investment in Waukegan, IL

There are 39 properties for sale in the city of Waukegan . The median list price in Waukegan is $254,900 and the average price per square foot is $192. In May 2026, the average monthly cash on cash return in Waukegan is 6.00%. The average monthly rental income in Waukegan is $2,023.

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

There are 39 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 $2,023.

Your search for investment property begins and ends here

Investment Property for Sale in Waukegan, IL

118 S FULTON Avenue

WAUKEGAN, IL

3 beds | 3 baths | N/A

$257,027

Airbnb cash on cash: 0.39%

Traditional cash on cash: 8.67%

Airbnb Rental Income: $1233

Traditional Rental Income: $2846

Airbnb ROI: 0.39%

Traditional ROI: 8.67%

1241 S Elmwood Avenue

WAUKEGAN, IL

3 beds | 2 baths | 1,056 sq.ft.

$199,900

Airbnb cash on cash: 1.18%

Traditional cash on cash: 7.36%

Airbnb Rental Income: $1233

Traditional Rental Income: $2011

Airbnb ROI: 1.18%

Traditional ROI: 7.36%

1913 Apache Road

WAUKEGAN, IL

2 beds | 1 baths | 768 sq.ft.

$210,500

Airbnb cash on cash: 2.65%

Traditional cash on cash: 5.17%

Airbnb Rental Income: $1637

Traditional Rental Income: $1677

Airbnb ROI: 2.65%

Traditional ROI: 5.17%

714 Glen Rock Avenue

WAUKEGAN, IL

5 beds | 4 baths | N/A

$335,000

Airbnb cash on cash: 5.55%

Traditional cash on cash: 9.73%

Airbnb Rental Income: $3398

Traditional Rental Income: $3960

Airbnb ROI: 5.55%

Traditional ROI: 9.73%

523 S McAlister Avenue

WAUKEGAN, IL

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

$275,000

Airbnb cash on cash: 0.66%

Traditional cash on cash: 5.89%

Airbnb Rental Income: $1233

Traditional Rental Income: $2194

Airbnb ROI: 0.66%

Traditional ROI: 5.89%

2324 S BONNIE BROOK LANE

WAUKEGAN, IL

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

$421,000

Airbnb cash on cash: -1.44%

Traditional cash on cash: 4.37%

Airbnb Rental Income: $1233

Traditional Rental Income: $3130

Airbnb ROI: -1.44%

Traditional ROI: 4.37%

634 W Ridgeland Avenue

WAUKEGAN, IL

4 beds | 1 baths | N/A

$274,900

Airbnb cash on cash: 1.39%

Traditional cash on cash: 2.34%

Airbnb Rental Income: $1707

Traditional Rental Income: $1480

Airbnb ROI: 1.39%

Traditional ROI: 2.34%

3370 W Brooke Avenue #410

WAUKEGAN, IL

1 beds | 1 baths | 612 sq.ft.

$119,900

Airbnb cash on cash: 0.38%

Traditional cash on cash: 5.8%

Airbnb Rental Income: $1039

Traditional Rental Income: $1304

Airbnb ROI: 0.38%