NOT LISTED FOR SALE

1120 S Jefferson St Lockport, IL 60441

Estimated Value: $381,411

7 Beds
5 Baths
-- Sq Ft
0.33 Acres

Last Sold January 03, 2017

Last sale price $245,000

Est. 56% increase in value since last sale

Current estimated payment $2,600/month

168 Days on Market

About This Home

As of January 2017

Great opportunity to own this money maker! Great cash flow for this 5 unit property with 6 car garage! This one has 2, 2 bedroom units and 3, 1 bedroom units with rents from 650-825. All units include refrigerator and stove and most tenants were long term and are now month to month. Tenants pay own electric and gas for stove and hot water heat. Property is vinyl sided and has plenty of off street parking.

Last Agent to Sell the Property

Kurt McAdams

Baird & Warner License #471012771 Listed on: 05/16/2016

Baird & Warner

Last Buyer's Agent

Karen Pence

@properties Christie's International Real Estate License #475138742

@properties Christie's International Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,940

Year Built

  • 1900

Lot Details

  • 0.33

Home Design

  • Vinyl Siding

Unfinished Basement

  • Exterior Basement Entry
  • Basement Cellar

Community Details

  • Fuel Expense $1,420
  • Insurance Expense $3,220

Listing and Financial Details

  • Tenant pays for electric, varies by tenant
  • $10,000 Seller Concession

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,940

Year Built

1900

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Current Use: Residential-Multi-Family
  • Ownership Type: Individual
  • Zoning Type: COMMR
  • Estimated Age: Older
  • Net Operating Income Year: 2015
  • Net Oper Income: 34200
  • Outdoor Parking: 6-12 Spaces, Common Parking, Open
  • Repairs Decor Expense: 2400
  • Scavenger Expense: 835
  • Total Annual Exp: 8800
  • Total Annual Income: 43000
  • Total Monthly Income: 3583
  • Number of Ranges: 5
  • Number Of Refrigs: 5
  • Number Of Stories: 2
  • Estimated Year Built: 1900
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1900

Interior Features

  • Basement: Unfinished, Cellar, Exterior Access

Exterior Features

  • Exterior Building Type: Vinyl Siding
  • Acreage: 0.33
  • Construction: Wood Frame

Garage/Parking

  • Indoor Parking: 1-5 Spaces, Detached
  • Number Of Parking Spaces: 10

Utilities

  • Heatventilation: Central Bldg Heat, Forced Air, Gas
  • Water Expense: 1650

Condo/Co-op/Association

  • Units in Building: 5

Fee Information

  • Electricity Expense: 475
  • Electrical Service: Fuses, Separate Meters

Lot Info

  • Lot Dimensions: 82X179
  • Lot Sq Ft: 14565
  • Parcel Identification Number: 1104234070040000

Rental Info

  • Gross Rental Income: 43000
  • Tenant Pays: Electric, Varies by Tenant

Multi Family

  • Expense Year: 2015
  • Fuel Expense: 1420
  • Insurance Expense: 3220

Tax Info

  • Taxes: 6418.36

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 16, 2016
Closed on
Jan 3, 2017
Sold by
Sornat Marion W and Sornat Joann W
Bought by
Race Real Estate Llc
Seller's Agent
Kurt McAdams
Baird & Warner
Buyer's Agent
Karen Pence
@properties Christie's International Real Estate
List Price
$289,900
Sold Price
$245,000
Premium/Discount to List
-$44,900
-15.49%
Current Estimated Value
$381,411

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$136,411
Original Mortgage
$196,000
Outstanding Balance
$161,568
Interest Rate
4.13%
Mortgage Type
Commercial
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
Race Real Estate Llc $245,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Race Real Estate Llc $196,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/03/2017 01/03/17 Sold $245,000 -15.5% --
10/31/2016 10/31/16 Pending -- -- --
05/16/2016 05/16/16 For Sale $289,900 -- --
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 $6,940 $80,831 $20,527 $60,304
2023 $6,940 $72,566 $18,428 $54,138
2022 $6,143 $66,727 $16,945 $49,782
2021 $6,219 $66,727 $16,945 $49,782
2020 $6,281 $66,727 $16,945 $49,782
2019 $6,319 $66,727 $16,945 $49,782
2018 $6,141 $63,302 $16,075 $47,227
2017 $6,291 $63,302 $16,075 $47,227
2016 $6,453 $63,302 $16,075 $47,227
2015 $6,418 $63,302 $16,075 $47,227
2014 $6,418 $58,613 $14,884 $43,729
2013 $6,418 $58,613 $14,884 $43,729
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD09227278

Midwest Real Estate Data (MRED)

APN: 11-04-23-407-004