NOT LISTED FOR SALE

1509 Meyer St Elgin, IL 60123

Estimated Value: $728,000 - $766,686

12 Beds
6 Baths
-- Sq Ft
9,583 Sq Ft Lot

Last Sold November 02, 2018

Last sale price $430,000

Est. 74% increase in value since last sale

Current estimated payment $5,261/month

18 Days on Market

About This Home

As of November 2018

Six unit building with all 2 bedroom units, each unit has an living room with balcony, eat-in kitchen, 2 bedrooms, 1 bath, storage room and 1 car garage. The building has a brick facade on front & rear with siding on sides. All units are occupied. Coin laundry with owner owned machines on-site. Tenants pay for their own heat and electric. Interior photos are respective of unit size and rooms, each unit has its own unique flooring and decor.

Last Agent to Sell the Property

Jeff Kellenberger

Preferred Homes Realty License #471000230 Listed on: 08/10/2018

Last Buyer's Agent

Ken Bruderle

Realty Executives Advance License #471005586

Realty Executives Advance

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,663

Year Built

  • 1966

Lot Details

  • 9,583

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Cedar

Utilities

  • Cooling System Mounted In Outer Wall Opening

Community Details

  • Insurance Expense $3,896

Listing and Financial Details

  • Tenant pays for air conditioning, electric, heat

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,663

Year Built

1966

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Current Use: Residential-Multi-Family
  • Ownership Type: General Partnership
  • Potential Use: Residential-Multi-Family
  • Zoning Type: MULTI
  • Estimated Age: Older
  • Net Operating Income Year: 2017
  • Net Oper Income: 32406
  • Outdoor Parking: 6-12 Spaces
  • Repairs Decor Expense: 4598
  • Roof Coverings: Shingle Composition
  • Roof Structure: Gable
  • Scavenger Expense: 1830
  • Total Annual Exp: 16637
  • Total Annual Income: 62400
  • Total Monthly Income: 5200
  • Number of Ranges: 6
  • Number Of Refrigs: 6
  • Number Of Window A C: 6
  • Number Of Stories: 2
  • Estimated Year Built: 1966
  • Type Multi Family: Corridor-Exterior Entrance
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1966

Exterior Features

  • Foundation: Concrete
  • Exterior Building Type: Brick, Cedar
  • Acreage: 0.22
  • Construction: Wood Frame
  • Frontage Access: City Street

Garage/Parking

  • Indoor Parking: 6-12 Spaces
  • Number Of Parking Spaces: 12

Utilities

  • Air Conditioner: Wall Sleeve
  • Heatventilation: Electric, Baseboard
  • Water Expense: 3900

Condo/Co-op/Association

  • Units in Building: 6

Fee Information

  • Electricity Expense: 600
  • Electrical Service: Circuit Breakers, 0-100 Amps
  • Janitor Expense: 693

Lot Info

  • Lot Dimensions: 73X130
  • Lot Sq Ft: 9490
  • Parcel Identification Number: 0622128007

Rental Info

  • Gross Rental Income: 62400
  • Tenant Pays: Air Conditioning, Electric, Heat

Multi Family

  • Expense Year: 2017
  • Gross Rent Multiplier: 8
  • Insurance Expense: 3896
  • Other Expenses: 1120
  • Number Of Dryers: 1
  • Number Of Washers: 1

Tax Info

  • Taxes: 13357

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 28, 2024
Sold by
North Star Capital Inc
Bought by
Sg Home Rentals Llc
Current Estimated Value
$746,172

Purchase Details

Listed on
Aug 10, 2018
Closed on
Oct 8, 2018
Sold by
Dietz Jeffrey L and Humbracht Eric E
Bought by
Northstar Capital Llc
Seller's Agent
Jeff Kellenberger
Preferred Homes Realty
Buyer's Agent
Ken Bruderle
Realty Executives Advance
List Price
$450,000
Sold Price
$430,000
Premium/Discount to List
-$20,000
-4.44%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.29%
Original Mortgage
$344,000
Interest Rate
5.33%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 7, 2008
Sold by
Schrocko Melvin L
Bought by
Dietz Jeffrey L and Humbracht Eric E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$364,000
Interest Rate
6.37%
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
Sg Home Rentals Llc $706,000 None Listed On Document
Northstar Capital Llc $430,000 Citywide Title Corp
Dietz Jeffrey L $425,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Northstar Capital Llc $344,000
Previous Owner Dietz Jeffrey L $364,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/02/2018 11/02/18 Sold $430,000 -4.4% --
08/28/2018 08/28/18 Pending -- -- --
08/28/2018 08/28/18 For Sale $450,000 +4.7% --
08/27/2018 08/27/18 Off Market $430,000 -- --
08/17/2018 08/17/18 Price Changed $450,000 -5.3% --
08/10/2018 08/10/18 For Sale $475,000 -- --
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 $15,663 $195,712 $33,486 $162,226
2023 $15,072 $176,811 $30,252 $146,559
2022 $13,980 $161,221 $27,585 $133,636
2021 $13,448 $150,730 $25,790 $124,940
2020 $13,124 $143,895 $24,621 $119,274
2019 $12,802 $137,069 $23,453 $113,616
2018 $12,766 $129,127 $22,094 $107,033
2017 $13,357 $129,864 $22,220 $107,644
2016 $14,033 $131,575 $20,614 $110,961
2015 -- $120,601 $18,895 $101,706
2014 -- $119,112 $18,662 $100,450
2013 -- $122,254 $19,154 $103,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD10047772

Midwest Real Estate Data (MRED)

APN: 06-22-128-007