This 3-bed, 2.5-bath, 1,800 sqft historic single-family in Elgin's Gifford Park is listed at $245K. Nearby comps with similar size and beds sell for $290K–$335K, and the median price per sqft in the area is about $183. The home has good bones—restored hardwoods, updated mechanicals—though it could use some TLC. The Elgin market is super tight, with just 1.3 months of inventory and homes often selling above list, so demand is high.[1][3][4][5]
As a flip, the spread is decent but not jaw-dropping—after renovations, you could push resale up $45K–$90K if you nail the updates. For homeowners, focus on curb appeal, kitchen/bath upgrades, and maybe adding a garage—the extra lot is a sweet bonus! In this seller's market, even modest improvements can yield a strong return and help you stand out.