NOT LISTED FOR SALE

1318 N 24th Ave Melrose Park, IL 60160

Estimated Value: $198,000 - $481,000

25 Beds
15 Baths
690 Sq Ft
$462/Sq Ft Est. Value

Last Sold August 05, 2019

Last sale price $499,000 $723 Per Sq Ft

Est. 33% decrease in value since last sale

Current estimated payment $2,146/month

8 Days on Market

About This Home

As of August 2019

Fully rented legal 5 units. Main building with 4 apartments plus a one bedroom coach house at the rear! Property sits on a Large over sized lot! Tenants pay all utilities! Very good income located in a quite residential area.

Last Agent to Sell the Property

Rosa Pitassi

Compass License #475133054 Listed on: 07/08/2019

Compass

Last Buyer's Agent

Saul Gutierrez

MVG Real Estate Inc License #471020510

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,945

Year Built

  • Built in 1956

Lot Details

  • 3,311

Bedrooms and Bathrooms

  • 25 Bedrooms
  • 15 Bathrooms

Additional Features

  • 2-Story Property
  • Lot Dimensions are 50x125
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 5 Units

Building Details

  • Insurance Expense $1,900
  • Maintenance Expense $1,000
  • Other Expense $300
  • Water Sewer Expense $1,392
  • Operating Expense $1,900
  • Gross Income $55,200
  • Net Operating Income $43,060

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,945

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 2
  • Year Built: 1956
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 15
  • Total Bedrooms: 25
  • Refrigerators: 5
  • Ranges: 5
  • Room: 4
  • Room: 3
  • Room: 0

Exterior Features

  • List Price: 549900

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Heat/Ventilation: Gas

Condo/Co-op/Association

  • Unincorporated (Y/N): No
  • Conversion YN: N

Fee Information

  • Water Sewer Expenses: 1392
  • Janitor Expense: 500

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 50X125

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 16

Multi Family

  • Net Operating Income: 43060
  • Insurance Expense: 1900
  • GrossIncome: 55200
  • Maintenance Expense: 1000
  • NumberOfUnitsTotal: 5
  • OperatingExpense: 1900
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 8945
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 8, 2019
Closed on
Aug 8, 2019
Sold by
Varughese George and Varughese Lisamma
Bought by
Rodriguez Eulogio
Seller's Agent
Rosa Pitassi
Compass
Buyer's Agent
Saul Gutierrez
MVG Real Estate Inc
List Price
$549,900
Sold Price
$499,000
Premium/Discount to List
-$50,900
-9.26%
Current Estimated Value
$335,460

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$163,540
Avg. Annual Appreciation
-6.70%

Purchase Details

Closed on
Nov 27, 2017
Sold by
An Capital Llc
Bought by
Varughese Lawrence and Varughese George

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
3.94%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 11, 2017
Sold by
Cordero Celia
Bought by
An Capital Llc

Purchase Details

Closed on
Aug 24, 2005
Sold by
Papo Paul and Papo Fabio
Bought by
Cordero Celia and Cordero Miguel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$315,000
Interest Rate
6%
Mortgage Type
Purchase Money Mortgage
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
Rodriguez Eulogio $499,000 Fidelity National Title
Varughese Lawrence $200,000 Greater Illinois Title
An Capital Llc -- None Available
Cordero Celia $405,000 Chicago Title Insurance Comp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Varughese Lawrence $90,000
Previous Owner Varughese Lawrence $90,000
Previous Owner Cordero Celia $315,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/05/2019 08/05/19 Sold $499,000 -9.3% $723 / Sq Ft
07/16/2019 07/16/19 Pending -- -- --
07/08/2019 07/08/19 For Sale $549,900 -- $797 / 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 $3,829 $14,735 $2,970 $11,765
2023 $3,446 $14,735 $2,970 $11,765
2022 $3,446 $11,185 $2,558 $8,627
2021 $3,499 $11,182 $2,557 $8,625
2020 $3,401 $11,182 $2,557 $8,625
2019 $1,995 $6,155 $2,310 $3,845
2018 $1,988 $6,155 $2,310 $3,845
2017 $4,260 $13,491 $2,310 $11,181
2016 $3,668 $11,444 $2,062 $9,382
2015 $3,611 $11,444 $2,062 $9,382
2014 $3,499 $11,444 $2,062 $9,382
2013 $3,037 $10,818 $2,062 $8,756
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10443106

Midwest Real Estate Data (MRED)

APN: 15-03-308-012-0000