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
1832 N Jackson St WAUKEGAN, IL Cozy tri-level 3 Bedrooms with laminated floors with double closets in two bedrooms,two ba...	4 beds \| 2 baths \| 1,080 sq.ft.	$279,000	Airbnb cash on cash: 0.65% Traditional cash on cash: 4.21% Airbnb Rental Income: $1306 Traditional Rental Income: $1834 Airbnb ROI: 0.65% Traditional ROI: 4.21%
136 S Butrick St WAUKEGAN, IL Large property with plenty of space to offer. Large rooms with high ceilings. Kitchen and ...	4 beds \| 2 baths \| 2,276 sq.ft.	$259,900	Airbnb cash on cash: 0.77% Traditional cash on cash: 5.96% Airbnb Rental Income: $1306 Traditional Rental Income: $2173 Airbnb ROI: 0.77% Traditional ROI: 5.96%
1810 N Jackson St WAUKEGAN, IL Large cape cod with 3 bedrooms 2 full baths and an unfinished full basement. Large 3 car g...	3 beds \| 3 baths \| 1,056 sq.ft.	$270,000	Airbnb cash on cash: 1.01% Traditional cash on cash: 5.47% Airbnb Rental Income: $1363 Traditional Rental Income: $2083 Airbnb ROI: 1.01% Traditional ROI: 5.47%
306 Oak Crest St WAUKEGAN, IL Attention: Rehabbers or buyers that can see the possiblities of bringing this ALL BRICK ...	5 beds \| 2 baths \| 2,100 sq.ft.	$328,000	Airbnb cash on cash: 2.27% Traditional cash on cash: 4.63% Airbnb Rental Income: $1978 Traditional Rental Income: $2190 Airbnb ROI: 2.27% Traditional ROI: 4.63%
2209 Melrose Ave WAUKEGAN, IL Fantastic Tri-Level 4 bedroom/2 bathroom home with 2 fireplaces!! Exterior of the home is ...	4 beds \| 2 baths \| 1,632 sq.ft.	$274,900	Airbnb cash on cash: 0.44% Traditional cash on cash: 5.63% Airbnb Rental Income: $1306 Traditional Rental Income: $2243 Airbnb ROI: 0.44% Traditional ROI: 5.63%
1810 Linden Ave WAUKEGAN, IL Solid updated brick Cape Cod ! Beautiful refinished hardwood floors, Cute kitchen with ple...	3 beds \| 2 baths \| 2,063 sq.ft.	$259,900	Airbnb cash on cash: 1.38% Traditional cash on cash: 6.25% Airbnb Rental Income: $1363 Traditional Rental Income: $2143 Airbnb ROI: 1.38% Traditional ROI: 6.25%
2223 New York St WAUKEGAN, IL Lovely Tri-Level Home. Move in condition. Three bedrooms and two full baths. Spacious Livi...	3 beds \| 2 baths \| 992 sq.ft.	$265,000	Airbnb cash on cash: 1.08% Traditional cash on cash: 4.06% Airbnb Rental Income: $1363 Traditional Rental Income: $1692 Airbnb ROI: 1.08% Traditional ROI: 4.06%
1913 Apache Rd 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: 3.13% Traditional cash on cash: 5.42% Airbnb Rental Income: $1689 Traditional Rental Income: $1677 Airbnb ROI: 3.13% Traditional ROI: 5.42%
2629 N Mcaree Rd WAUKEGAN, IL Gorgeous Ranch Home! Move In Ready! Sits on over one-half acre, city sewer and water, and ...	2 beds \| 1 baths \| 864 sq.ft.	$235,000	Airbnb cash on cash: 2.47% Traditional cash on cash: 4.08% Airbnb Rental Income: $1689 Traditional Rental Income: $1577 Airbnb ROI: 2.47% Traditional ROI: 4.08%
714 Glen Rock Ave WAUKEGAN, IL Money Maker!! 4 Unit. Priced to sell. All rented month to month. Great location. Great opp...	5 beds \| 4 baths \| N/A	$335,000	Airbnb cash on cash: 1.44% Traditional cash on cash: 10.15% Airbnb Rental Income: $1689 Traditional Rental Income: $3960 Airbnb ROI: 1.44% Traditional ROI: 10.15%
644 S Mcalister Ave WAUKEGAN, IL NEW PAINT, NEW CARPET - NEW FIXTURES! ZONED B2! This 4 bedroom (3 above and 1 below), 1 an...	4 beds \| 2 baths \| 1,962 sq.ft.	$239,900	Airbnb cash on cash: 0.99% Traditional cash on cash: 6.93% Airbnb Rental Income: $1306 Traditional Rental Income: $2247 Airbnb ROI: 0.99% Traditional ROI: 6.93%
1318 N Jackson St WAUKEGAN, IL Charming two-story home with classic appeal, featuring a traditional front porch and decor...	3 beds \| 1 baths \| 1,232 sq.ft.	$242,000	Airbnb cash on cash: 0.98% Traditional cash on cash: 5.1% Airbnb Rental Income: $1363 Traditional Rental Income: $1890 Airbnb ROI: 0.98% Traditional ROI: 5.1%
918 N Ash St WAUKEGAN, IL GREAT INVESTMENT OPPORTUNITY. Two units in the heart of the city. This property features t...	4 beds \| 2 baths \| N/A	$295,000	Airbnb cash on cash: 0.33% Traditional cash on cash: 4.86% Airbnb Rental Income: $1363 Traditional Rental Income: $2205 Airbnb ROI: 0.33% Traditional ROI: 4.86%
1636 Rice St WAUKEGAN, IL DOUBLE LOT! WELL-KEPT! This charming 3-bedroom, 1-bath home offers comfortable single-leve...	3 beds \| 1 baths \| 1,728 sq.ft.	$228,900	Airbnb cash on cash: 0.65% Traditional cash on cash: 5.1% Airbnb Rental Income: $1363 Traditional Rental Income: $1911 Airbnb ROI: 0.65% Traditional ROI: 5.1%
815 Prescott St WAUKEGAN, IL Completely remodeled 2 Flat! Tenant on second floor paying $795 a month. BEATIFUL new kitc...	5 beds \| 2 baths \| N/A	$309,900	Airbnb cash on cash: 0.98% Traditional cash on cash: 5.75% Airbnb Rental Income: $1363 Traditional Rental Income: $2339 Airbnb ROI: 0.98% Traditional ROI: 5.75%
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%
10-12 N Park Ave WAUKEGAN, IL Massive side to side DUPLEX. Over 10k worth of recent repairs/updates in the last couple o...	8 beds \| 4 baths \| N/A	$479,000	Airbnb cash on cash: -0.93% Traditional cash on cash: 5.52% Airbnb Rental Income: $1363 Traditional Rental Income: $3839 Airbnb ROI: -0.93% Traditional ROI: 5.52%
614 Walnut St WAUKEGAN, IL Great 2 Story home featuring Living Room, Formal Dining Room, Kitchen, 3 bedrooms, 1 1/2 b...	3 beds \| 1 baths \| 1,274 sq.ft.	$225,000	Airbnb cash on cash: 0.98% Traditional cash on cash: 6.93% Airbnb Rental Income: $1363 Traditional Rental Income: $2214 Airbnb ROI: 0.98% Traditional ROI: 6.93%
1020 Woodlawn Ave WAUKEGAN, IL Freshly rehabbed & move-in ready 4 bedroom & 2 bathroom 2-story. 1st floor bedroom with ne...	4 beds \| 2 baths \| 1,576 sq.ft.	$312,900	Airbnb cash on cash: 0% Traditional cash on cash: 5.37% Airbnb Rental Income: $1306 Traditional Rental Income: $2479 Airbnb ROI: 0% Traditional ROI: 5.37%
2613 N Lewis Ave WAUKEGAN, IL Fully Renovated & Move-In Ready! Everything has been done for you-just unpack and enjoy! T...	4 beds \| 1 baths \| 1,728 sq.ft.	$229,000	Airbnb cash on cash: 0.56% Traditional cash on cash: 7.39% Airbnb Rental Income: $1306 Traditional Rental Income: $2378 Airbnb ROI: 0.56% Traditional ROI: 7.39%
2231 W Cheyenne Rd WAUKEGAN, IL Come take a look at home. This home features nice hardwood floors on the main floor, a gen...	2 beds \| 2 baths \| 1,152 sq.ft.	$239,998	Airbnb cash on cash: 3.08% Traditional cash on cash: 3.68% Airbnb Rental Income: $1689 Traditional Rental Income: $1355 Airbnb ROI: 3.08% Traditional ROI: 3.68%
956 Westmoreland Ave WAUKEGAN, IL Welcome to this beautifully renovated three-bedroom, one-and-a-half-bath home! Step inside...	4 beds \| 1 baths \| 2,206 sq.ft.	$289,900	Airbnb cash on cash: 0.38% Traditional cash on cash: 3.39% Airbnb Rental Income: $1306 Traditional Rental Income: $1720 Airbnb ROI: 0.38% Traditional ROI: 3.39%
634 W Ridgeland Ave WAUKEGAN, IL Buy through Auction.com. This foreclosure property is a great opportunity to invest in thi...	4 beds \| 1 baths \| 1,538 sq.ft.	$274,900	Airbnb cash on cash: 0.26% Traditional cash on cash: 2.5% Airbnb Rental Income: $1306 Traditional Rental Income: $1480 Airbnb ROI: 0.26% Traditional ROI: 2.5%
3370 W Brooke Ave #410 WAUKEGAN, IL Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium...	1 beds \| 1 baths \| 612 sq.ft.	$119,900	Airbnb cash on cash: 3.16% Traditional cash on cash: 6.47% Airbnb Rental Income: $1332 Traditional Rental Income: $1304 Airbnb ROI: 3.16% Traditional ROI: 6.47%
1521 Catalpa Ave WAUKEGAN, IL Spacious living room and dining room with luxury waterproof floors throughout the first f...	2 beds \| 1 baths \| 1,054 sq.ft.	$249,900	Airbnb cash on cash: 2.17% Traditional cash on cash: 2.56% Airbnb Rental Income: $1689 Traditional Rental Income: $1312 Airbnb ROI: 2.17% Traditional ROI: 2.56%
36107 N Green Bay Rd WAUKEGAN, IL Gorgeous property on a large lot! Comfort, peace of mind and space on the outside for ente...	4 beds \| 1 baths \| 1,710 sq.ft.	$320,000	Airbnb cash on cash: 0.88% Traditional cash on cash: 4.48% Airbnb Rental Income: $1306 Traditional Rental Income: $1982 Airbnb ROI: 0.88% Traditional ROI: 4.48%
722 W Keith Ave WAUKEGAN, IL Brick Cape Code on Large Lot. Hardwood flooring on 1st floor. Living room with separate di...	5 beds \| 2 baths \| 1,525 sq.ft.	$255,000	Airbnb cash on cash: 2.94% Traditional cash on cash: 5.76% Airbnb Rental Income: $1978 Traditional Rental Income: $2138 Airbnb ROI: 2.94% Traditional ROI: 5.76%
1126 N Ash St WAUKEGAN, IL Conveniently located near schools, shopping & major arteries of Central Waukegan sits this...	3 beds \| 1 baths \| 848 sq.ft.	$224,975	Airbnb cash on cash: 1.26% Traditional cash on cash: 5.02% Airbnb Rental Income: $1363 Traditional Rental Income: $1749 Airbnb ROI: 1.26% Traditional ROI: 5.02%
702 Franklin St WAUKEGAN, IL Nestled on a spacious corner lot, this Grand Victorian home. The interior and exterior hav...	4 beds \| 1 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%
446 S Jackson St WAUKEGAN, IL INVESTORS- Whether you're looking to renovate and flip, rent out for cash flow, or add to ...	3 beds \| 2 baths \| 1,401 sq.ft.	$274,900	Airbnb cash on cash: 1.19% Traditional cash on cash: 6.2% Airbnb Rental Income: $1363 Traditional Rental Income: $2245 Airbnb ROI: 1.19% Traditional ROI: 6.2%
557 W Water St WAUKEGAN, IL Welcome to this bright and spacious 4-Bedroom home featuring a 2.5-car garage w/additional...	4 beds \| 1 baths \| 1,200 sq.ft.	$225,000	Airbnb cash on cash: 1.2% Traditional cash on cash: 7.35% Airbnb Rental Income: $1306 Traditional Rental Income: $2209 Airbnb ROI: 1.2% Traditional ROI: 7.35%
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 Ave 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%
1504 W Glen Flora Ave 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: -1.29% Traditional cash on cash: 0.53% Airbnb Rental Income: $1306 Traditional Rental Income: $1918 Airbnb ROI: -1.29% Traditional ROI: 0.53%
1712 11th St 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.	$229,900	Airbnb cash on cash: 0.93% Traditional cash on cash: 5.88% Airbnb Rental Income: $1363 Traditional Rental Income: $2023 Airbnb ROI: 0.93% Traditional ROI: 5.88%
511 Chestnut St WAUKEGAN, IL This unique house blends timeless character with modern updates. Enjoy relaxing summer day...	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%
547 S Martin Luther King Jr Ave WAUKEGAN, IL Experience a vibrant lifestyle surrounded by culture, music, cuisine, and energy in this t...	5 beds \| 2 baths \| 1,722 sq.ft.	$269,200	Airbnb cash on cash: 2.82% Traditional cash on cash: 6.93% Airbnb Rental Income: $1978 Traditional Rental Income: $2504 Airbnb ROI: 2.82% Traditional ROI: 6.93%

Real Estate investment in Waukegan, IL

There are 102 properties for sale in the city of Waukegan . The median list price in Waukegan is $241,000 and the average price per square foot is $215. In March 2026, the average monthly cash on cash return in Waukegan is 5.00%. The average monthly rental income in Waukegan is $1,842.

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

There are 102 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 $1,842.

Your search for investment property begins and ends here

Investment Property for Sale in Waukegan, IL

1832 N Jackson St

WAUKEGAN, IL

4 beds | 2 baths | 1,080 sq.ft.

$279,000

Airbnb cash on cash: 0.65%

Traditional cash on cash: 4.21%

Airbnb Rental Income: $1306

Traditional Rental Income: $1834

Airbnb ROI: 0.65%

Traditional ROI: 4.21%

136 S Butrick St

WAUKEGAN, IL

4 beds | 2 baths | 2,276 sq.ft.

$259,900

Airbnb cash on cash: 0.77%

Traditional cash on cash: 5.96%

Airbnb Rental Income: $1306

Traditional Rental Income: $2173

Airbnb ROI: 0.77%

Traditional ROI: 5.96%

1810 N Jackson St

WAUKEGAN, IL

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

$270,000

Airbnb cash on cash: 1.01%

Traditional cash on cash: 5.47%

Airbnb Rental Income: $1363

Traditional Rental Income: $2083

Airbnb ROI: 1.01%

Traditional ROI: 5.47%

306 Oak Crest St

WAUKEGAN, IL

5 beds | 2 baths | 2,100 sq.ft.

$328,000

Airbnb cash on cash: 2.27%

Traditional cash on cash: 4.63%

Airbnb Rental Income: $1978

Traditional Rental Income: $2190

Airbnb ROI: 2.27%

Traditional ROI: 4.63%

2209 Melrose Ave

WAUKEGAN, IL

4 beds | 2 baths | 1,632 sq.ft.

$274,900

Airbnb cash on cash: 0.44%

Traditional cash on cash: 5.63%

Airbnb Rental Income: $1306

Traditional Rental Income: $2243

Airbnb ROI: 0.44%

Traditional ROI: 5.63%

1810 Linden Ave

WAUKEGAN, IL

3 beds | 2 baths | 2,063 sq.ft.

$259,900

Airbnb cash on cash: 1.38%

Traditional cash on cash: 6.25%

Airbnb Rental Income: $1363

Traditional Rental Income: $2143

Airbnb ROI: 1.38%

Traditional ROI: 6.25%

2223 New York St

WAUKEGAN, IL

3 beds | 2 baths | 992 sq.ft.

$265,000

Airbnb cash on cash: 1.08%

Traditional cash on cash: 4.06%

Airbnb Rental Income: $1363

Traditional Rental Income: $1692

Airbnb ROI: 1.08%

Traditional ROI: 4.06%

1913 Apache Rd

WAUKEGAN, IL

2 beds | 1 baths | 768 sq.ft.

$210,500

Airbnb cash on cash: 3.13%

Traditional cash on cash: 5.42%

Airbnb Rental Income: $1689

Traditional Rental Income: $1677

Airbnb ROI: 3.13%