NOT LISTED FOR SALE

1039 Sheridan Rd Winthrop Harbor, IL 60096

17 Beds
10 Baths
-- Sq Ft
1.03 Acres

Last Sold February 22, 2018

Last sale price $652,500

132 Days on Market

About This Home

As of February 2018

Top notch investment property: 85% leased, well maintained, on-site property manager, ACH auto-payments of most of the rents and there is upside on the rents. The property consists of 2 apartment buildings, a manager house, commercial garage and single garage on more than 1 acre corner lot. There is also a retail space that has been used as a restaurant for years and includes a full commercial kitchen with 12' exhaust hood, Halon and make-up air systems. Huge, newly sealed and striped parking lot with more than 50 parking spaces. Newer roof, windows and other improvements already done. Safe, quiet community near lake Michigan lakefront, schools, shopping, Metra commuter train to Chicago, boat marina, State Park and much more.

Last Agent to Sell the Property

William Goldstein

Bitcoin Realty LLC License #471018242 Listed on: 04/27/2017

Last Buyer's Agent

William Goldstein

Bitcoin Realty LLC License #471018242 Listed on: 04/27/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,484

Year Built

  • 1961

Lot Details

  • 1.03

Utilities

  • Central Air

Community Details

  • Insurance Expense $5,471

Listing and Financial Details

  • Tenant pays for electric, heat

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,484

Year Built

1961

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Zoning Type: COMMR
  • Estimated Age: Older
  • Net Operating Income Year: 2016
  • Net Oper Income: 77281
  • Repairs Decor Expense: 1900
  • Roof Structure: Gable
  • Total Annual Exp: 39139
  • Total Annual Income: 116420
  • Total Monthly Income: 9701
  • Number Of Stories: 3
  • Estimated Year Built: 1961
  • Type Multi Family: Flats
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3
  • Year Built: 1961

Exterior Features

  • Acreage: 1.03
  • Construction: Concrete Block

Garage/Parking

  • Number Of Parking Spaces: 60

Utilities

  • Air Conditioner: Central Air
  • Heatventilation: Hot Water
  • Water Expense: 3158

Condo/Co-op/Association

  • Units in Building: 15

Fee Information

  • Janitor Expense: 1500

Lot Info

  • Lot Dimensions: 201 X 228 X 100 X 73 X 100 X 165
  • Lot Sq Ft: 44000
  • Parcel Identification Number: 04103070080000

Rental Info

  • Gross Rental Income: 116420
  • Tenant Pays: Electric, Heat

Multi Family

  • Expense Year: 2016
  • Insurance Expense: 5471
  • Other Expenses: 5000

Tax Info

  • Taxes: 23530

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 27, 2017
Closed on
Feb 22, 2018
Sold by
Harbor Trails Llc
Bought by
Cas Winthrop Harbor Llc
Seller's Agent
William Goldstein
Bitcoin Realty LLC
Buyer's Agent
William Goldstein
Bitcoin Realty LLC
List Price
$750,000
Sold Price
$652,500
Premium/Discount to List
-$97,500
-13%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$626,250
Interest Rate
1.58%
Mortgage Type
Construction

Purchase Details

Closed on
Feb 6, 2006
Sold by
First Midwest Bank
Bought by
Harbor Trails Llc

Purchase Details

Closed on
Nov 20, 2003
Sold by
Winthrop Harbor Apartments Llc
Bought by
First Midwest Bank and Trust #8018

Purchase Details

Closed on
Apr 12, 1999
Sold by
May Robert and May June
Bought by
Paul Donald Michael and Paul Jeffrey

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
8.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 4, 1995
Sold by
Chicago Title & Trust Company
Bought by
May Robert E and May June
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Cas Winthrop Harbor Llc $625,000 Chicago Title
Harbor Trails Llc -- None Available
First Midwest Bank -- --
Paul Donald Michael $126,666 --
May Robert E -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Cas Winthrop Harbor Llc $626,250
Previous Owner Paul Donald Michael $180,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/22/2018 02/22/18 Sold $652,500 -13.0% --
01/05/2018 01/05/18 For Sale $750,000 0.0% --
09/06/2017 09/06/17 Pending -- -- --
07/13/2017 07/13/17 Price Changed $750,000 -3.0% --
04/27/2017 04/27/17 For Sale $772,810 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $12,484 $120,655 $15,894 $104,761
2023 $9,205 $116,473 $15,343 $101,130
2022 $9,205 $84,109 $13,040 $71,069
2021 $9,444 $81,969 $12,708 $69,261
2020 $9,197 $78,222 $12,127 $66,095
2019 $9,004 $74,215 $11,506 $62,709
2018 $9,027 $73,741 $13,908 $59,833
2017 $8,986 $69,371 $13,084 $56,287
2016 $8,797 $66,042 $12,456 $53,586
2015 $8,725 $60,566 $11,423 $49,143
2014 $8,351 $60,566 $11,423 $49,143
2012 $8,120 $62,939 $11,871 $51,068
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD09608752

Midwest Real Estate Data (MRED)

APN: 04-10-307-008