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
1122 N Ash Street WAUKEGAN, IL Great Northside location! Hardwood floors, fresh paint throughout doors walls and trim! Wa...	2 beds \| 2 baths \| 986 sq.ft.	$219,900	Airbnb cash on cash: 2.78% Traditional cash on cash: 4.39% Airbnb Rental Income: $1761 Traditional Rental Income: $1613 Airbnb ROI: 2.78% Traditional ROI: 4.39%
806 Leith Avenue WAUKEGAN, IL Welcome to your single-story home with a finished basement, offering modern updates and a ...	2 beds \| 2 baths \| 956 sq.ft.	$260,000	Airbnb cash on cash: 1.85% Traditional cash on cash: 5.29% Airbnb Rental Income: $1761 Traditional Rental Income: $2123 Airbnb ROI: 1.85% Traditional ROI: 5.29%
1745 N Frolic Avenue WAUKEGAN, IL Absolutely stunning and super spacious 6-bedroom, 3.1-bath home situated on a beautifully ...	4 beds \| 4 baths \| 2,300 sq.ft.	$360,000	Airbnb cash on cash: -0.04% Traditional cash on cash: 5.92% Airbnb Rental Income: $1632 Traditional Rental Income: $3184 Airbnb ROI: -0.04% Traditional ROI: 5.92%
1636 Rice Street WAUKEGAN, IL DOUBLE LOT!! Well-kept!! 3-bedroom, 1-bath home featuring a spacious combined living and d...	3 beds \| 1 baths \| 1,728 sq.ft.	$199,500	Airbnb cash on cash: 2.03% Traditional cash on cash: 5.98% Airbnb Rental Income: $1622 Traditional Rental Income: $1911 Airbnb ROI: 2.03% Traditional ROI: 5.98%
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: -0.62% Traditional cash on cash: 4.37% Airbnb Rental Income: $1622 Traditional Rental Income: $3130 Airbnb ROI: -0.62% Traditional ROI: 4.37%
2613 N Lewis Avenue WAUKEGAN, IL Fully Renovated & Move-In Ready! Everything has been done for you-just unpack and enjoy! T...	3 beds \| 2 baths \| 1,728 sq.ft.	$229,000	Airbnb cash on cash: 1.78% Traditional cash on cash: 7.39% Airbnb Rental Income: $1622 Traditional Rental Income: $2378 Airbnb ROI: 1.78% Traditional ROI: 7.39%
917 N Linden Avenue WAUKEGAN, IL Spacious 4 Bedroom, 3 bath, 2 half bath home offers large living room, nice size dining ro...	4 beds \| 5 baths \| 2,445 sq.ft.	$325,000	Airbnb cash on cash: -0.08% Traditional cash on cash: 7.77% Airbnb Rental Income: $1632 Traditional Rental Income: $3570 Airbnb ROI: -0.08% Traditional ROI: 7.77%
614 N County Street WAUKEGAN, IL Charming 2 bedroom 2 bath ranch nestled in a private location on a .33 acre lot. Huge livi...	2 beds \| 2 baths \| 2,480 sq.ft.	$204,888	Airbnb cash on cash: 2.47% Traditional cash on cash: 5.94% Airbnb Rental Income: $1761 Traditional Rental Income: $1953 Airbnb ROI: 2.47% Traditional ROI: 5.94%
702 Franklin Street WAUKEGAN, IL Nestled on a spacious corner lot, this Grand Victorian home. The interior and exterior hav...	4 beds \| 2 baths \| 2,614 sq.ft.	$280,000	Airbnb cash on cash: 1.31% Traditional cash on cash: 6.47% Airbnb Rental Income: $1632 Traditional Rental Income: $2532 Airbnb ROI: 1.31% Traditional ROI: 6.47%
3411 N Lewis Avenue WAUKEGAN, IL Beautifully Renovated 4-bedroom home in Prime Location! Welcome to your dream home! This ...	2 beds \| 2 baths \| 2,092 sq.ft.	$354,900	Airbnb cash on cash: 0.35% Traditional cash on cash: 3.83% Airbnb Rental Income: $1761 Traditional Rental Income: $2439 Airbnb ROI: 0.35% Traditional ROI: 3.83%
2350 N Lewis Avenue WAUKEGAN, IL Custom built estate nestled on over 1 acre of land set back on Bonnie Brook 18-Hole Golf C...	5 beds \| 4 baths \| 3,800 sq.ft.	$414,900	Airbnb cash on cash: 4.65% Traditional cash on cash: 8.37% Airbnb Rental Income: $3938 Traditional Rental Income: $4541 Airbnb ROI: 4.65% Traditional ROI: 8.37%
301 W Eagle Court WAUKEGAN, IL Ranch with Loft, On Golf Course Lot. If You Do Not want a Big House with Lots of Storage S...	4 beds \| 4 baths \| 2,317 sq.ft.	$389,000	Airbnb cash on cash: -0.55% Traditional cash on cash: 5.38% Airbnb Rental Income: $1632 Traditional Rental Income: $3334 Airbnb ROI: -0.55% Traditional ROI: 5.38%
723 N COUNTY Street WAUKEGAN, IL 24hr notice tenants in both units. City of Waukegan has done its inspection on the propert...	5 beds \| 2 baths \| 3,870 sq.ft.	$259,000	Airbnb cash on cash: 8.43% Traditional cash on cash: 8.12% Airbnb Rental Income: $3938 Traditional Rental Income: $3018 Airbnb ROI: 8.43% Traditional ROI: 8.12%
217 Stewart Avenue WAUKEGAN, IL Own a piece of history with this Sears Catalog home-an Alhambra Mission-style model-locate...	4 beds \| 2 baths \| 1,950 sq.ft.	$275,000	Airbnb cash on cash: 1.63% Traditional cash on cash: 7.28% Airbnb Rental Income: $1632 Traditional Rental Income: $2636 Airbnb ROI: 1.63% Traditional ROI: 7.28%
12716 W Grandview Avenue WAUKEGAN, IL Welcome to this delightful 2-bedroom, 1-bathroom home that perfectly blends comfort and ch...	2 beds \| 1 baths \| 632 sq.ft.	$179,900	Airbnb cash on cash: 4.66% Traditional cash on cash: 6.5% Airbnb Rental Income: $1761 Traditional Rental Income: $1593 Airbnb ROI: 4.66% Traditional ROI: 6.5%
12698 W Grandview Avenue WAUKEGAN, IL This charming 3-bedroom, 1-bath home is full of potential and ideal for first-time buyers ...	3 beds \| 1 baths \| 1,131 sq.ft.	$209,900	Airbnb cash on cash: 2.65% Traditional cash on cash: 6.38% Airbnb Rental Income: $1622 Traditional Rental Income: $1906 Airbnb ROI: 2.65% Traditional ROI: 6.38%
325 4th Street WAUKEGAN, IL STOP settling for cookie-cutter homes when you could own a piece of character-rich history...	3 beds \| 2 baths \| 1,524 sq.ft.	$299,900	Airbnb cash on cash: 1.09% Traditional cash on cash: 5.67% Airbnb Rental Income: $1622 Traditional Rental Income: $2456 Airbnb ROI: 1.09% Traditional ROI: 5.67%
304 Powell Avenue WAUKEGAN, IL Updated With New Paint & Appliances. Situated On A Desirable Corner Lot, This Estate Sale ...	4 beds \| 1 baths \| 1,790 sq.ft.	$204,900	Airbnb cash on cash: 2.6% Traditional cash on cash: 6.35% Airbnb Rental Income: $1632 Traditional Rental Income: $1900 Airbnb ROI: 2.6% Traditional ROI: 6.35%
1425 N Mcaree Road WAUKEGAN, IL Charming 3-bedroom home recently built in 2018 with a fabulous open floor plan ! Upon entr...	3 beds \| 1 baths \| 2,550 sq.ft.	$248,900	Airbnb cash on cash: 0.58% Traditional cash on cash: 5.02% Airbnb Rental Income: $1622 Traditional Rental Income: $2207 Airbnb ROI: 0.58% Traditional ROI: 5.02%
610 Bluff Street WAUKEGAN, IL Discover this spacious 2-unit property offering generous room sizes, a full basement, and ...	4 beds \| N/A baths \| N/A	$250,000	Airbnb cash on cash: 1.8% Traditional cash on cash: 7.58% Airbnb Rental Income: $1632 Traditional Rental Income: $2537 Airbnb ROI: 1.8% Traditional ROI: 7.58%

Real Estate investment in Waukegan, IL

There are 60 properties for sale in the city of Waukegan . The median list price in Waukegan is $259,900 and the average price per square foot is $158. In October 2025, the average monthly cash on cash return in Waukegan is 6.00%. The average monthly rental income in Waukegan is $2,300.

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

There are 60 investment properties available for sale in Waukegan.

In 2025, 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 $2,300.

Your search for investment property begins and ends here

Investment Property for Sale in Waukegan, IL

1122 N Ash Street

WAUKEGAN, IL

2 beds | 2 baths | 986 sq.ft.

$219,900

Airbnb cash on cash: 2.78%

Traditional cash on cash: 4.39%

Airbnb Rental Income: $1761

Traditional Rental Income: $1613

Airbnb ROI: 2.78%

Traditional ROI: 4.39%

806 Leith Avenue

WAUKEGAN, IL

2 beds | 2 baths | 956 sq.ft.

$260,000

Airbnb cash on cash: 1.85%

Traditional cash on cash: 5.29%

Airbnb Rental Income: $1761

Traditional Rental Income: $2123

Airbnb ROI: 1.85%

Traditional ROI: 5.29%

1745 N Frolic Avenue

WAUKEGAN, IL

4 beds | 4 baths | 2,300 sq.ft.

$360,000

Airbnb cash on cash: -0.04%

Traditional cash on cash: 5.92%

Airbnb Rental Income: $1632

Traditional Rental Income: $3184

Airbnb ROI: -0.04%

Traditional ROI: 5.92%

1636 Rice Street

WAUKEGAN, IL

3 beds | 1 baths | 1,728 sq.ft.

$199,500

Airbnb cash on cash: 2.03%

Traditional cash on cash: 5.98%

Airbnb Rental Income: $1622

Traditional Rental Income: $1911

Airbnb ROI: 2.03%

Traditional ROI: 5.98%

2324 S BONNIE BROOK LANE

WAUKEGAN, IL

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

$421,000

Airbnb cash on cash: -0.62%

Traditional cash on cash: 4.37%

Airbnb Rental Income: $1622

Traditional Rental Income: $3130

Airbnb ROI: -0.62%

Traditional ROI: 4.37%

2613 N Lewis Avenue

WAUKEGAN, IL

3 beds | 2 baths | 1,728 sq.ft.

$229,000

Airbnb cash on cash: 1.78%

Traditional cash on cash: 7.39%

Airbnb Rental Income: $1622

Traditional Rental Income: $2378

Airbnb ROI: 1.78%

Traditional ROI: 7.39%

917 N Linden Avenue

WAUKEGAN, IL

4 beds | 5 baths | 2,445 sq.ft.

$325,000

Airbnb cash on cash: -0.08%

Traditional cash on cash: 7.77%

Airbnb Rental Income: $1632

Traditional Rental Income: $3570

Airbnb ROI: -0.08%

Traditional ROI: 7.77%

614 N County Street

WAUKEGAN, IL

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

$204,888

Airbnb cash on cash: 2.47%

Traditional cash on cash: 5.94%

Airbnb Rental Income: $1761

Traditional Rental Income: $1953

Airbnb ROI: 2.47%