NOT LISTED FOR SALE

116-118 Center St Elgin, IL 60120

Downtown Elgin Neighborhood

Estimated Value: $464,000 - $536,838

8 Beds
7 Baths
4,228 Sq Ft
$118/Sq Ft Est. Value

Sale Details

Date Sold: April 18, 2018

Last sale price $321,000 $76 Per Sq Ft

Est. 56% increase in value since last sale

Current estimated payment $3,680 / mo

121 Days on Market

About This Home

As of April 2018

Excellent investment property in the heart of Downtown Elgin. Seven units total with (1) two bedroom unit, (5) one bedroom units and (1) studio apartment. This is an all brick building with a great location within walking distance to everything in downtown--Metra train/Pace Bus, The Centre, Gail Borden Library,etc.

Last Agent to Sell the Property

Ben Henrikson

RE/MAX Horizon License #475091643 Listed on: 10/19/2017

Last Buyer's Agent

Dariusz Nowak

Pinnacle Power Brokers License #475176108

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,514

Year Built

  • Built in 1900

Lot Details

  • 0.95

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 4,228 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 7 Bathrooms

Additional Features

  • Lot Dimensions are 67x62x66x61
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 7 Units

Building Details

  • Electric Expense $522
  • Fuel Expense $743
  • Insurance Expense $1,827
  • Maintenance Expense $5,700
  • Trash Expense $1,056
  • Water Sewer Expense $2,044
  • Operating Expense $21,406
  • Gross Income $53,004
  • Net Operating Income $31,598

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,514

Year Built

Built in 1900

Lot Details

0.95 Acres

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Other
  • Stories: 2
  • Year Built: 1900
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 7
  • Total Bedrooms: 8
  • Refrigerators: 7
  • Ranges: 7
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick

Utilities

  • Heat/Ventilation: Gas

Fee Information

  • Trash Expense: 1056
  • Water Sewer Expenses: 2044

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 67X62X66X61
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 5

Building Info

  • BuildingAreaTotal: 4228

Multi Family

  • Net Operating Income: 31598
  • Fuel Expense: 743
  • Insurance Expense: 1827
  • ElectricExpense: 522
  • GrossIncome: 53004
  • Maintenance Expense: 5700
  • NumberOfUnitsTotal: 7
  • OperatingExpense: 21406
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 9514
  • Tax Year: 2016

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 19, 2017
Closed on
Apr 18, 2018
Sold by
Bought by
Seller's Agent
Ben Henrikson
RE/MAX Horizon
Buyer's Agent
Dariusz Nowak
Pinnacle Power Brokers
List Price
$359,000
Sold Price
$321,000
Premium/Discount to List
-$38,000
-10.58%
Current Estimated Value
$500,419

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$179,419
Avg. Annual Appreciation
5.58%
Original Mortgage
$304,500
Outstanding Balance
$261,926
Interest Rate
4.45%
Mortgage Type
Construction
Estimated Equity
$238,493

Purchase Details

Closed on
Jul 15, 2015
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$198,086
Interest Rate
4.08%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 27, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
6.3%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 26, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
6.3%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$321,000 First American Title & Abst
$245,500 Chicago Title Land Trust Co
$305,000 --
$207,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $304,500
Previous Owner $198,086
Previous Owner $260,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/18/2018 04/18/18 Sold $321,000 -10.6% $76 / Sq Ft
02/17/2018 02/17/18 Pending -- -- --
02/13/2018 02/13/18 For Sale $359,000 0.0% $85 / Sq Ft
02/01/2018 02/01/18 Pending -- -- --
10/19/2017 10/19/17 For Sale $359,000 -- $85 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $11,721 $146,459 $22,662 $123,797
2023 $11,279 $132,314 $20,473 $111,841
2022 $10,462 $120,648 $18,668 $101,980
2021 $10,063 $112,797 $17,453 $95,344
2020 $9,821 $107,683 $16,662 $91,021
2019 $9,580 $102,575 $15,872 $86,703
2018 $9,554 $96,632 $14,952 $81,680
2017 $9,890 $96,160 $14,879 $81,281
2016 $9,514 $89,211 $13,804 $75,407
2015 -- $81,770 $12,653 $69,117
2014 -- $80,761 $12,497 $68,264
2013 -- $82,892 $12,827 $70,065
Source: Public Records

Agents Affiliated with this Home

  • Ben Henrikson

    Seller's Agent in 2018

    Ben Henrikson

    RE/MAX

    (847) 931-7500

    7 in this area

    109 Total Sales

    Ben Henrikson
    Section Image

  • D

    Buyer's Agent in 2018

    Dariusz Nowak

    Pinnacle Power Brokers

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 09783027

Midwest Real Estate Data (MRED)

APN: 06-13-154-004

Illinois Kane County Elgin 60120 Downtown Elgin

116-118 Center St, Elgin, IL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) 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. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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