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
3248 Hampshire Lane WAUKEGAN, IL Welcome home to this great 4 bedroom, 2.5 bathroom home that was recently renovated. The m...	3 beds \| 3 baths \| 1,707 sq.ft.	$425,000	Airbnb cash on cash: -1.11% Traditional cash on cash: 2.95% Airbnb Rental Income: $1363 Traditional Rental Income: $2563 Airbnb ROI: -1.11% Traditional ROI: 2.95%
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: -1.16% Traditional cash on cash: 4.37% Airbnb Rental Income: $1363 Traditional Rental Income: $3130 Airbnb ROI: -1.16% 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: 0.78% Traditional cash on cash: 7.39% Airbnb Rental Income: $1363 Traditional Rental Income: $2378 Airbnb ROI: 0.78% Traditional ROI: 7.39%
917 N Linden Avenue WAUKEGAN, IL If you are looking for a lot of living space then this is the house for you. Don't miss...	4 beds \| 5 baths \| 2,445 sq.ft.	$299,999	Airbnb cash on cash: -0.96% Traditional cash on cash: 8.49% Airbnb Rental Income: $1306 Traditional Rental Income: $3570 Airbnb ROI: -0.96% Traditional ROI: 8.49%
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: 0.28% Traditional cash on cash: 6.47% Airbnb Rental Income: $1306 Traditional Rental Income: $2532 Airbnb ROI: 0.28% Traditional ROI: 6.47%
924 Lenox Avenue WAUKEGAN, IL Beautifully Remodeled Single-Family Home with Modern Finishes! Step into this thoughtfully...	3 beds \| 2 baths \| 2,088 sq.ft.	$280,000	Airbnb cash on cash: 1.26% Traditional cash on cash: 4.88% Airbnb Rental Income: $1363 Traditional Rental Income: $1900 Airbnb ROI: 1.26% Traditional ROI: 4.88%
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.	$249,000	Airbnb cash on cash: 1.86% Traditional cash on cash: 8.48% Airbnb Rental Income: $1978 Traditional Rental Income: $3018 Airbnb ROI: 1.86% Traditional ROI: 8.48%
557 W Water Street WAUKEGAN, IL Welcome to this bright and spacious 4-bedroom home featuring a 2.5-car garage and **ad...	4 beds \| 2 baths \| 1,200 sq.ft.	$249,900	Airbnb cash on cash: 0.99% Traditional cash on cash: 6.53% Airbnb Rental Income: $1306 Traditional Rental Income: $2209 Airbnb ROI: 0.99% Traditional ROI: 6.53%
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.	$159,900	Airbnb cash on cash: 4.96% Traditional cash on cash: 7.41% Airbnb Rental Income: $1689 Traditional Rental Income: $1593 Airbnb ROI: 4.96% Traditional ROI: 7.41%
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.	$189,900	Airbnb cash on cash: 1.83% Traditional cash on cash: 7.14% Airbnb Rental Income: $1363 Traditional Rental Income: $1906 Airbnb ROI: 1.83% Traditional ROI: 7.14%
325 4th Street WAUKEGAN, IL This 1910 Victorian brings together the charm of true craftsmanship & the peace of knowing...	3 beds \| 2 baths \| 1,524 sq.ft.	$295,000	Airbnb cash on cash: 0.35% Traditional cash on cash: 5.78% Airbnb Rental Income: $1363 Traditional Rental Income: $2456 Airbnb ROI: 0.35% Traditional ROI: 5.78%
1038 Indiana Avenue WAUKEGAN, IL MUST SEE Do not miss this beautiful home! Located in an up and coming neighborhood r...	3 beds \| 1 baths \| 1,300 sq.ft.	$225,000	Airbnb cash on cash: 1.15% Traditional cash on cash: 5.65% Airbnb Rental Income: $1363 Traditional Rental Income: $1906 Airbnb ROI: 1.15% Traditional ROI: 5.65%
600 SUNDERLIN Street WAUKEGAN, IL Well maintained, solid building featuring 2 fully independent units. This is a formal an...	4 beds \| N/A baths \| N/A	$325,000	Airbnb cash on cash: -0.25% Traditional cash on cash: 5.39% Airbnb Rental Income: $1306 Traditional Rental Income: $2623 Airbnb ROI: -0.25% Traditional ROI: 5.39%
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.	$650,000	Airbnb cash on cash: -1.27% Traditional cash on cash: 0.41% Airbnb Rental Income: $1306 Traditional Rental Income: $1918 Airbnb ROI: -1.27% Traditional ROI: 0.41%
616 W Keith Avenue WAUKEGAN, IL Charming Brick Ranch This 3-bed, 1.5-bath home shines with hardwood floors, crown moldin...	3 beds \| 2 baths \| 1,252 sq.ft.	$244,900	Airbnb cash on cash: 0.65% Traditional cash on cash: 6.38% Airbnb Rental Income: $1363 Traditional Rental Income: $2271 Airbnb ROI: 0.65% Traditional ROI: 6.38%
1712 11th Street WAUKEGAN, IL The newest house in the neighborhood. 1200 sq ft with an extra 1200 sq ft basement. Large ...	3 beds \| 1 baths \| 1,200 sq.ft.	$234,900	Airbnb cash on cash: 0.89% Traditional cash on cash: 5.73% Airbnb Rental Income: $1363 Traditional Rental Income: $2023 Airbnb ROI: 0.89% Traditional ROI: 5.73%
511 Chestnut Street WAUKEGAN, IL This unique house blends timeless character with modern updates. Enjoy relaxing summer da...	2 beds \| 2 baths \| N/A	$220,000	Airbnb cash on cash: 4.14% Traditional cash on cash: 6.84% Airbnb Rental Income: $1689 Traditional Rental Income: $1781 Airbnb ROI: 4.14% Traditional ROI: 6.84%
710 S Martin Luther King Jr Avenue WAUKEGAN, IL Come check out this well maintained 4-bedroom 2 bath home. Newer roof, on house and garag...	4 beds \| 2 baths \| 1,664 sq.ft.	$220,000	Airbnb cash on cash: 1% Traditional cash on cash: 8.35% Airbnb Rental Income: $1306 Traditional Rental Income: $2431 Airbnb ROI: 1% Traditional ROI: 8.35%
2713 Varonen Avenue WAUKEGAN, IL Recently updated , move in ready home in desirable Heather Heights. Gutters, soffits and s...	3 beds \| 2 baths \| 2,308 sq.ft.	$299,900	Airbnb cash on cash: 0.29% Traditional cash on cash: 6.21% Airbnb Rental Income: $1363 Traditional Rental Income: $2617 Airbnb ROI: 0.29% Traditional ROI: 6.21%
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.	$277,200	Airbnb cash on cash: 2.71% Traditional cash on cash: 6.7% Airbnb Rental Income: $1978 Traditional Rental Income: $2504 Airbnb ROI: 2.71% Traditional ROI: 6.7%
3032 W Vermont Avenue WAUKEGAN, IL Beautifully renovated modern two-story home on private wooded deadend street. Formal livin...	4 beds \| 3 baths \| 2,016 sq.ft.	$379,900	Airbnb cash on cash: -0.98% Traditional cash on cash: 4.43% Airbnb Rental Income: $1306 Traditional Rental Income: $2827 Airbnb ROI: -0.98% Traditional ROI: 4.43%
2009 Harding Avenue WAUKEGAN, IL	3 beds \| 1 baths \| 890 sq.ft.	$189,900	Airbnb cash on cash: 2.18% Traditional cash on cash: 6.85% Airbnb Rental Income: $1363 Traditional Rental Income: $1790 Airbnb ROI: 2.18% Traditional ROI: 6.85%
1905 Linden Avenue WAUKEGAN, IL Welcome to this well maintained home located in quiet North Waukegan. Sitting on a gorgeou...	3 beds \| 2 baths \| 1,744 sq.ft.	$289,900	Airbnb cash on cash: 0.71% Traditional cash on cash: 6.26% Airbnb Rental Income: $1363 Traditional Rental Income: $2461 Airbnb ROI: 0.71% Traditional ROI: 6.26%
4506 W Forest Avenue WAUKEGAN, IL Step into this beautifully finished residence in the sought-after Woodland School District...	3 beds \| 3 baths \| 2,132 sq.ft.	$374,320	Airbnb cash on cash: -1.57% Traditional cash on cash: 3.74% Airbnb Rental Income: $1363 Traditional Rental Income: $2812 Airbnb ROI: -1.57% Traditional ROI: 3.74%

Real Estate investment in Waukegan, IL

There are 47 properties for sale in the city of Waukegan . The median list price in Waukegan is $249,000 and the average price per square foot is $157. In December 2025, the average monthly cash on cash return in Waukegan is 6.00%. The average monthly rental income in Waukegan is $2,317.

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

There are 47 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 $2,317.

Your search for investment property begins and ends here

Investment Property for Sale in Waukegan, IL

3248 Hampshire Lane

WAUKEGAN, IL

3 beds | 3 baths | 1,707 sq.ft.

$425,000

Airbnb cash on cash: -1.11%

Traditional cash on cash: 2.95%

Airbnb Rental Income: $1363

Traditional Rental Income: $2563

Airbnb ROI: -1.11%

Traditional ROI: 2.95%

2324 S BONNIE BROOK LANE

WAUKEGAN, IL

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

$421,000

Airbnb cash on cash: -1.16%

Traditional cash on cash: 4.37%

Airbnb Rental Income: $1363

Traditional Rental Income: $3130

Airbnb ROI: -1.16%

Traditional ROI: 4.37%

2613 N Lewis Avenue

WAUKEGAN, IL

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

$229,000

Airbnb cash on cash: 0.78%

Traditional cash on cash: 7.39%

Airbnb Rental Income: $1363

Traditional Rental Income: $2378

Airbnb ROI: 0.78%

Traditional ROI: 7.39%

917 N Linden Avenue

WAUKEGAN, IL

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

$299,999

Airbnb cash on cash: -0.96%

Traditional cash on cash: 8.49%

Airbnb Rental Income: $1306

Traditional Rental Income: $3570

Airbnb ROI: -0.96%

Traditional ROI: 8.49%

702 Franklin Street

WAUKEGAN, IL

4 beds | 2 baths | 2,614 sq.ft.

$280,000

Airbnb cash on cash: 0.28%

Traditional cash on cash: 6.47%

Airbnb Rental Income: $1306

Traditional Rental Income: $2532

Airbnb ROI: 0.28%

Traditional ROI: 6.47%

924 Lenox Avenue

WAUKEGAN, IL

3 beds | 2 baths | 2,088 sq.ft.

$280,000

Airbnb cash on cash: 1.26%

Traditional cash on cash: 4.88%

Airbnb Rental Income: $1363

Traditional Rental Income: $1900

Airbnb ROI: 1.26%

Traditional ROI: 4.88%

723 N COUNTY Street

WAUKEGAN, IL

5 beds | 2 baths | 3,870 sq.ft.

$249,000

Airbnb cash on cash: 1.86%

Traditional cash on cash: 8.48%

Airbnb Rental Income: $1978

Traditional Rental Income: $3018

Airbnb ROI: 1.86%

Traditional ROI: 8.48%

557 W Water Street

WAUKEGAN, IL

4 beds | 2 baths | 1,200 sq.ft.

$249,900

Airbnb cash on cash: 0.99%

Traditional cash on cash: 6.53%

Airbnb Rental Income: $1306

Traditional Rental Income: $2209

Airbnb ROI: 0.99%