Contact us: 563.441.1776
Description
Turnkey investment opportunity with immediate cash flow in highly desirable Vernon Hills! This income-producing property is currently leased for $2,025 per month through October 31, 2026, with the tenant expressing interest in extending the lease for an additional year-offering investors stable rental income from day one. This well-maintained 2-bedroom, 1-bath ranch features 864 square feet of comfortable single-level living with an open-concept floor plan, hardwood floors, a freshly painted kitchen, in-unit washer and dryer, and an attached one-car garage. Recent capital improvements include a new HVAC system (March 2026) and new water heater (October 2025), reducing future maintenance concerns. Kitchen appliances include the refrigerator, oven/range, microwave, and garbage disposal. The $400 monthly HOA includes lawn maintenance and snow removal, providing low-maintenance ownership, while residents also enjoy access to the community pool. Located within the highly regarded Hawthorn CCSD 73 and Community High School District 128, and just minutes from Hawthorn Mall, shopping, dining, and major commuter routes. Whether you're expanding your real estate portfolio or planning for future owner occupancy after the current lease, this property presents an outstanding opportunity in one of Vernon Hills' most sought-after communities.
Property Highlights
Property Type: Residential - Condominium
Total Living Area SF: 864
Garage Size: 1
Attached Garage
Built in 1975
High School: Vernon Hills High School
General Information
Bedrooms: 2
Bathrooms: 1
Sqft: 864
County: Lake
High School: Vernon Hills High School
Listed By:
PMI NVP Estates
224-300-4234
MRED MLS
MLS ID: 12719299
Room Information
Bedroom 2: 12X10
Dining Room: COMBO
Kitchen: 8X8
Laundry: 3X8
Living Room: 16X15
Primary Bedroom: 16X10
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307 Somerset Lane, Unit 307, Vernon Hills, IL 60061.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $219,000 | $219,000 | $219,000 |
| Down Payment | $43,800 | $7,665 | $54,750 |
| Monthly Mortgage Amount | $1,107 | $1,342 | $1,375 |
| Taxes | $305 | $305 | $305 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $96 | $0 |
| Monthly Estimated Total | $1,512 | $1,843 | $1,780 |
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 08/01/2026. The listing information on this page last changed on 08/01/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sat 08/01/2026 12:29:56 AM EST) or MRED MLS (last updated Sat 08/01/2026 12:26:00 AM EST) or SCWMLS (last updated Fri 07/31/2026 11:54:49 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Fri 07/31/2026 10:24:06 PM EST) or Cedar Rapids MLS (last updated Fri 07/31/2026 10:45:27 PM EST) or NEIRBR MLS (last updated Sat 08/01/2026 12:28:42 AM EST) or ICAAR MLS (last updated Fri 07/31/2026 11:37:32 PM EST) or ECIMLS (last updated Fri 07/31/2026 11:44:33 PM EST) or RMLSA (last updated Sat 08/01/2026 12:20:58 AM EST) or Muscatine MLS (last updated Sat 08/01/2026 12:15:10 AM EST) or No Coast MLS (last updated Sat 08/01/2026 12:24:24 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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