NOT LISTED FOR SALE

Estimated Value: $731,000 - $1,396,264

39 Beds
21 Baths
5,040 Sq Ft
$183/Sq Ft Est. Value

Last Sold June 24, 2022

Last sale price $672,500 $133 Per Sq Ft

Est. 37% increase in value since last sale

Current estimated payment $6,102/month

3 Days on Market

Highlights

  • Laundry Room
  • Zoned Heating System
  • Baseboard Heating
  • Storage Room

About This Home

As of June 2022

Excellent Investment Opportunity! Large 6 unit; 4 - 2 bedroom units and 2 - 1 bedroom units and private parking. Laundry on site -- current owner has free washing machine with $1.50 to dry - another untapped source of revenue. Actual gross rents and dryer funds are $77,580 with room for an additional 6% in increases ($4,620.) Quiet building with long term tenants and all mechanicals in tip top shape. Mansard section of roof and painting of trim around windows is scheduled to be completed prior to closing, however, seller will credit the $12,500 in their repair fund and allow new buyer to use their own tradesmen. No HOA - owner makes all decisions relative to building, grounds and tenants.

Last Agent to Sell the Property

Mary Hager-Swanson

Swanson Real Estate License #471003655 Listed on: 04/16/2022

Last Buyer's Agent

Mark Goff

HomeSmart Connect, LLC. License #475120143

HomeSmart Connect, LLC.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,932

Year Built

  • Built in 1969

Lot Details

  • Lot Dimensions are 87 x125

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 5,040 Sq Ft Home
  • 3-Story Property
  • Storage Room
  • Laundry Room
  • Exterior Basement Entry
  • Fire and Smoke Detector

Bedrooms and Bathrooms

  • 39 Bedrooms
  • 21 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Zoned Heating System
  • Baseboard Heating
  • Hot Water Heating System
  • Heating System Uses Gas
  • Separate Meters
  • 100 Amp Service

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $656
  • Fuel Expense $2,879
  • Insurance Expense $4,100
  • Maintenance Expense $244
  • Trash Expense $1,251
  • Water Sewer Expense $3,554
  • Operating Expense $25,616
  • Gross Income $77,580
  • Net Operating Income $51,964

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,932

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 3
  • Year Built: 1969
  • Built Before 1978 (Y/N): Yes
  • Information: Show-Special Instructions,No Sign on Property
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 21
  • Total Bedrooms: 39
  • Possible Use: Multi-Family
  • Basement Description: None
  • Fire Protection: Smoke or Fire Protectors
  • Misc Inside: Storage Inside,Laundry Room
  • Fireplaces: 1
  • Drive-In Doors: 0
  • Dishwashers: 0
  • Refrigerators: 6
  • Ranges: 6
  • Number of Washers: 1
  • Room: 0

Exterior Features

  • Construction Materials: Brick, Wood Frame
  • Foundation Details: Concrete Perimeter
  • Frontage Type: City Street
  • Roof: Composition
  • Exterior Building Type: Brick
  • Roof Structure: Mansard,Wood Joists
  • Misc Outside: Balcony/ies,Patio,Security Lighting,Storms and Screens (as exist)

Garage/Parking

  • Outdoor Parking: 6-12 Spaces,Common Parking,Lighted,Paved,Private Lot

Utilities

  • Cooling: Wall Sleeve
  • Electric: Circuit Breakers, Separate Meters, Service - 0 to 100 Amps
  • Utilities: Sanitary Sewer, Water-Municipal
  • Heat/Ventilation: Central Heat/Indiv Controls,Gas,Hot Water,Baseboard,Zoned
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Unincorporated (Y/N): No
  • Owners Association (Y/N): No

Fee Information

  • Association Fee Includes: None
  • Trash Expense: 1251
  • Water Sewer Expenses: 3554

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 87 X125
  • Zoning: MULTI
  • Land Amenities: Curbs and Gutters,Lighting/Exterior,Sidewalks,Cable Ready

Rental Info

  • Tenant Pays: Air Conditioning, Electricity
  • Board Number: 5
  • Tenancy Type: Leases,Month To Month,Subsidized Rents,1 or More Vacant

Building Info

  • BuildingAreaTotal: 5040

Multi Family

  • Net Operating Income: 51964
  • Fuel Expense: 2879
  • Insurance Expense: 4100
  • ElectricExpense: 656
  • GrossIncome: 77580
  • Maintenance Expense: 244
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 25616
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 12932
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 16, 2022
Closed on
Jun 24, 2022
Sold by
Kofsky Mitchell S
Bought by
Ryk Elgin Properties Llc
Seller's Agent
Mary Hager-Swanson
Swanson Real Estate
Buyer's Agent
Mark Goff
HomeSmart Connect, LLC.
List Price
$669,000
Sold Price
$672,500
Premium/Discount to List
$3,500
0.52%
Current Estimated Value
$921,816

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$249,316
Avg. Annual Appreciation
9.32%
Original Mortgage
$504,000
Outstanding Balance
$478,842
Interest Rate
5.1%
Mortgage Type
New Conventional
Estimated Equity
$442,974

Purchase Details

Closed on
Feb 1, 2018
Sold by
Fnbc Bank And Trust
Bought by
Kofsky Mitchell S

Purchase Details

Closed on
Dec 1, 2008
Sold by
Kofsky Mitchell S
Bought by
State Bank Of Illinois and Trust #1-1374

Purchase Details

Closed on
Feb 22, 2008
Sold by
Creative Assistance Development Inc
Bought by
Kofsky Mitchell S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$390,000
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 31, 2000
Sold by
Spiro Lois A
Bought by
Creative Assistance Development Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$285,000
Interest Rate
8.19%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Ryk Elgin Properties Llc $672,500 Chicago Title
Kofsky Mitchell S -- Attorney
State Bank Of Illinois -- None Available
Kofsky Mitchell S $380,000 Chicago Title Insurance Co
Creative Assistance Development Inc $285,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ryk Elgin Properties Llc $504,000
Previous Owner Kofsky Mitchell S $390,000
Previous Owner Creative Assistance Development Inc $285,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/24/2022 06/24/22 Sold $672,500 +0.5% $133 / Sq Ft
04/20/2022 04/20/22 Pending -- -- --
04/16/2022 04/16/22 For Sale $669,000 -- $133 / 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 $15,434 $192,857 $35,607 $157,250
2023 $14,852 $174,231 $32,168 $142,063
2022 $13,776 $158,869 $29,332 $129,537
2021 $13,339 $148,531 $27,423 $121,108
2020 $12,932 $141,795 $26,179 $115,616
2019 $12,615 $135,068 $24,937 $110,131
2018 $12,580 $127,242 $23,492 $103,750
2017 $13,162 $127,967 $23,625 $104,342
2016 $13,809 $129,475 $21,918 $107,557
2015 -- $118,676 $20,090 $98,586
2014 -- $117,211 $19,842 $97,369
2013 -- $120,302 $20,365 $99,937
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11377160

Midwest Real Estate Data (MRED)

APN: 06-10-251-018