NOT LISTED FOR SALE

1120 W College Ave Normal, IL 61761

Westbrooke Neighborhood

Estimated Value: $426,190

16 Beds
8 Baths
8,784 Sq Ft
$49/Sq Ft Est. Value

Last Sold September 13, 2019

Last sale price $305,000 $35 Per Sq Ft

Est. 40% increase in value since last sale

Current estimated payment $3,104/month

22 Days on Market

About This Home

As of September 2019

8 Units w/ 2 bedrooms & 1 bath for each unit. 2 building apartment complex: 1120 & 1122 W College Ave. Oversized bedrooms w/ large closets. Laundry on site and plenty of parking. Tenants pay electric & are billed back for water. Could be converted to student housing based on proximity to ISU Campus. Lots of recent updates: New windows (a few upgraded previously). New siding around windows on building ends. Heat conversion from common heat to individualized electric. All electric GFI and smoke detectors upgraded. New front sidewalks and landscape rock. Back sidewalk on 1120 Building. New gutters on 1120 building. Six units upgraded lighting package with ceiling fans in bedrooms. Apt 2 in 1122 building completely remodeled 3/19. Site drainage system installed on east end of property. New dumpster pad. Floor support system repaired in 1120 building. Hallway and exterior lighting upgraded to LED. Main power source upgraded for electrical service from Ameren.

Last Agent to Sell the Property

Willow Gramm

RE/MAX Choice License #475132109 Listed on: 07/08/2019

RE/MAX Choice

Last Buyer's Agent

Janice Vidovic

Clients Are Golden Realty,LLC License #471019870

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,616

Year Built

  • Built in 1970

Lot Details

  • 0.47 Acre Lot
  • Lot Dimensions are 104 x 196

Home Design

  • Garden Apartment

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Additional Features

  • 2-Story Property
  • Heating Available

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat, sewer, water, hot water, varies by tenant

Community Details

Overview

  • 8 Units

Building Details

  • Electric Expense $1,800
  • Fuel Expense $240
  • Insurance Expense $2,620
  • Maintenance Expense $12,000
  • Manager Expense $3,000
  • Other Expense $2,035
  • Trash Expense $1,300
  • Water Sewer Expense $840
  • Operating Expense $34,250
  • Gross Income $57,084
  • Net Operating Income $22,834

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,616

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Garden Complex
  • Stories: 2
  • Year Built: 1970
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8
  • Total Bedrooms: 16
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 320000
  • Exterior Building Type: Vinyl Siding,Brick

Utilities

  • Heat/Ventilation: Electric

Condo/Co-op/Association

  • Manager Expense: 3000
  • Conversion YN: N

Fee Information

  • Trash Expense: 1300
  • Water Sewer Expenses: 840
  • Janitor Expense: 1800

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.47
  • Lot Dimensions: 104 X 196
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat, Sewer, Water, Hot Water, Varies by Tenant
  • Board Number: 23

Multi Family

  • Net Operating Income: 22834
  • Fuel Expense: 240
  • Insurance Expense: 2620
  • ElectricExpense: 1800
  • GrossIncome: 57084
  • Maintenance Expense: 12000
  • NumberOfUnitsTotal: 8
  • OperatingExpense: 34250
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 8615.78
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 8, 2019
Closed on
Sep 13, 2019
Sold by
Azsun Llc
Bought by
Peoples Marcus R
Seller's Agent
Willow Gramm
RE/MAX Choice
Buyer's Agent
Janice Vidovic
Clients Are Golden Realty,LLC
List Price
$320,000
Sold Price
$305,000
Premium/Discount to List
-$15,000
-4.69%
Current Estimated Value
$426,190

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$121,190
Avg. Annual Appreciation
5.42%
Original Mortgage
$229,600
Outstanding Balance
$109,680
Interest Rate
3.6%
Mortgage Type
Commercial
Estimated Equity
$307,505

Purchase Details

Closed on
May 15, 2017
Sold by
Gramm George D
Bought by
Azsun Llc

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
4.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 17, 2017
Sold by
Horve Willoughby Christine M
Bought by
Gramm George D

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
4.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 24, 2008
Sold by
Gamache Rene E
Bought by
Gamache Rene E and Rene E Gamache Revocable Trust

Purchase Details

Closed on
Jun 29, 2007
Sold by
Rhodes Cheryl D
Bought by
Gamacile Rene E
Source: Public Records

Range of Values:

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Average Value
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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
Peoples Marcus R $287,000 Mclean County Title
Azsun Llc -- Attorney
Gramm George D $163,500 None Available
Gamache Rene E -- None Available
Gamacile Rene E $329,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Peoples Marcus R $229,600
Previous Owner Azsum Llc $16,000
Previous Owner Gramm George D $180,000
Previous Owner Gamache Rene Edward $220,000
Previous Owner Gamache Rene Edward $180,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/13/2019 09/13/19 Sold $305,000 -4.7% $35 / Sq Ft
07/30/2019 07/30/19 Pending -- -- --
07/08/2019 07/08/19 For Sale $320,000 -- $36 / Sq Ft
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 $9,388 $129,191 $33,654 $95,537
2022 $9,388 $104,507 $27,224 $77,283
2021 $9,068 $98,600 $25,685 $72,915
2020 $9,017 $97,575 $25,418 $72,157
2019 $8,712 $97,050 $25,281 $71,769
2018 $8,616 $96,022 $25,013 $71,009
2017 $4,759 $55,000 $25,013 $29,987
2016 $8,218 $96,022 $25,013 $71,009
2015 $7,995 $93,772 $24,427 $69,345
2014 $7,896 $93,772 $24,427 $69,345
2013 -- $93,772 $24,427 $69,345
Source: Public Records

Agents Affiliated with this Home

  • Willow Gramm

    Seller's Agent in 2019

    Willow Gramm

    RE/MAX

    (309) 824-5703

    1 in this area

    160 Total Sales

    Section Image

  • J

    Buyer's Agent in 2019

    Janice Vidovic

    Clients Are Golden Realty,LLC

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10441842

Midwest Real Estate Data (MRED)

APN: 14-29-252-005

Illinois Mclean County Normal 61761 Westbrooke

1120 W College Ave, Normal, IL

This home is located at 1120 W College Ave, Normal, IL 61761 since 08 July 2019 and is currently estimated at $426,190, approximately $48 per square foot. This property was built in 1970. 1120 W College Ave is a home located in McLean County with nearby schools including Oakdale Elementary School, Kingsley Junior High School, and Normal Community West High School.

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