NOT LISTED FOR SALE

1511 N 16th Ave Melrose Park, IL 60160

8 Beds
5 Baths
-- Sq Ft
1972 Built

Last Sold March 11, 2024

Last sale price $525,000

73 Days on Market

About This Home

As of March 2024

Nestled in the heart of Melrose community, this meticulously maintained 3-flat property offers an exceptional investment opportunity.Whether you're a seasoned investor or a first-time buyer, this property offers a promising return on investment. The well-maintained units and excellent location ensure consistent rental demand. This 3-flat property in Melrose park, is a rare find in today's market. With its well-maintained units, ample parking, and desirable location, it presents an outstanding opportunity for investors seeking both immediate returns and long-term value appreciation. Don't miss out on this gem - schedule a viewing today!

Last Agent to Sell the Property

Gonzalo Santoyo

HomeSmart Connect LLC License #475166102 Listed on: 10/06/2023

HomeSmart Connect LLC

Last Buyer's Agent

Koroll Haley

Re/Max In The Village License #475137376

Re/Max In The Village

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,442

Year Built

  • Built in 1972

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 5 Bathrooms

Parking

  • 6 Parking Spaces
  • Uncovered Parking
  • Parking Included in Price
  • Assigned Parking

Utilities

  • Radiator
  • Heating System Uses Natural Gas
  • Lake Michigan Water

Additional Features

  • Basement Fills Entire Space Under The House
  • Lot Dimensions are 33x123

Community Details

  • 3 Units
  • Gross Income $4,900

Listing and Financial Details

  • Homeowner Tax Exemptions

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,442

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1972
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 5
  • Total Bedrooms: 8
  • Basement Description: Finished
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 3
  • Half Bathrooms in Building: 2

Exterior Features

  • List Price: 549900
  • Roof: Flat
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking Features: Assigned
  • ParkingTotal: 6
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Radiator(s)
  • Water Source: Lake Michigan

Schools

  • Middle/Junior School District: 89

Lot Info

  • Lot Dimensions: 33X123
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: Yes

Multi Family

  • GrossIncome: 4900
  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 11442.31
  • Tax Year: 2021
  • Tax Exemptions: Homeowner

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/11/2024 03/11/24 Sold $525,000 -4.5% --
12/19/2023 12/19/23 Pending -- -- --
12/05/2023 12/05/23 For Sale $549,900 +4.7% --
12/04/2023 12/04/23 Off Market $525,000 -- --
12/02/2023 12/02/23 Price Changed $549,900 -5.2% --
10/06/2023 10/06/23 For Sale $580,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11903294

Midwest Real Estate Data (MRED)