116 E Monaville Rd Lake Villa, IL 60046
South Lake Villa NeighborhoodEstimated payment $3,205/month
Highlights
- Guest House
- Second Kitchen
- Recreation Room
- Thompson Elementary School Rated A-
- Mature Trees
- Farmhouse Style Home
About This Home
Unique mixed-use opportunity in the heart of Lake Villa! This nearly 5-acre property features two homes and a detached 3-car garage (with 2-car overhead door). The main farmhouse has been thoughtfully converted into a 2-unit residence, offering a total of 5 bedrooms, 3 full baths, 2 kitchens, 3 living rooms, a sunroom, walk-in closet, storage room, and full basement. The original staircase remains, allowing for an easy conversion back to a single-family layout if desired. The second home is a charming ranch featuring 1 bedroom, 1 full bath, kitchen with eating area, and a small office space. In 2nd Home, some windows were replaced approximately 15 years ago, Roof replaced approximately 15 years ago, and Hot Water Heater is 7-8 years old. Some acreage is currently being farmed for hay, providing a serene rural setting while still close to town conveniences. Special financing may be required due to the mixed-use setup. Do not walk the property without an appointment-homes are occupied. See floor plans for detailed layouts of both residences.
Listing Agent
Keller Williams North Shore West License #475105587 Listed on: 10/13/2025
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,415
Year Built
- Built in 1917
Lot Details
- Lot Dimensions are 410x531x411x466
- Mature Trees
Parking
- 2 Car Garage
Home Design
- Farmhouse Style Home
- Asphalt Roof
Interior Spaces
- 4,754 Sq Ft Home
- 2-Story Property
- Great Room
- Family Room
- Living Room
- Dining Room
- Recreation Room
- Storage Room
- Basement Fills Entire Space Under The House
Kitchen
- Second Kitchen
- Breakfast Bar
- Range
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Potential Bedrooms
- Walk-In Closet
- 3 Full Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Schools
- William L Thompson Elementary School
- Peter J Palombi Middle School
- Grayslake North High School
Utilities
- No Cooling
- Forced Air Heating System
- Baseboard Heating
- Heating System Uses Steam
- Heating System Uses Natural Gas
Additional Features
- Enclosed Patio or Porch
- Guest House
Listing and Financial Details
- Senior Tax Exemptions
- Homeowner Tax Exemptions
Map
Home Values in the Area
Average Home Value in this Area
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 | $5,735 | $115,429 | $23,353 | $92,076 |
| 2023 | $6,467 | $101,963 | $20,609 | $81,354 |
| 2022 | $6,467 | $84,909 | $18,939 | $65,970 |
| 2021 | $6,744 | $78,810 | $17,528 | $61,282 |
| 2020 | $7,132 | $76,197 | $16,878 | $59,319 |
| 2019 | $7,561 | $73,153 | $16,143 | $57,010 |
| 2018 | $7,707 | $72,379 | $15,903 | $56,476 |
| 2017 | $7,878 | $70,378 | $15,408 | $54,970 |
| 2016 | $7,923 | $67,400 | $14,655 | $52,745 |
| 2015 | $11,631 | $89,850 | $40,591 | $49,259 |
| 2014 | $12,430 | $111,708 | $59,178 | $52,530 |
| 2012 | $11,103 | $112,246 | $59,463 | $52,783 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/10/2025 11/10/25 | Price Changed | $525,000 | -4.5% | $110 / Sq Ft |
| 10/13/2025 10/13/25 | For Sale | $550,000 | -- | $116 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Available |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12492112
APN: 06-09-100-016
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