NOT LISTED FOR SALE

1559 Meyer St Elgin, IL 60123

Estimated Value: $498,000 - $574,000

8 Beds
8 Baths
-- Sq Ft
9,583 Sq Ft Lot

Last Sold June 24, 2022

Last sale price $456,000

Est. 19% increase in value since last sale

Current estimated payment $3,807/month

3 Days on Market

About This Home

As of June 2022

Fully Occupied, Cash Flowing Brick 4 Unit. Side by Side 2 story Units with Basements. Each unit has 2 Bedrooms, 1 Full Bathroom, 1 Half Bathroom, Finished Basement. Individually metered Units. Tenants pay their own utilities. Low maintenance Costs. Long Term tenants with reliable rent history. Roof was updated 2018. Private Parking. Great Location, close to shopping, schools and Rt 20.

Last Agent to Sell the Property

Rudy Johnson

Keller Williams Inspire - Geneva License #475139695 Listed on: 06/07/2022

Keller Williams Inspire - Geneva

Co-Listed By

Mary Bruno

Keller Williams Inspire - Geneva License #475177699

Last Buyer's Agent

Jayesh Parekh

Charles Rutenberg Realty of IL License #475149245

Charles Rutenberg Realty of IL

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,470

Year Built

  • Built in 1962

Lot Details

  • 9,583 Sq Ft Lot
  • Lot Dimensions are 74 x 130

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 8 Bathrooms

Finished Basement

  • Basement Fills Entire Space Under The House

Parking

  • 8 Parking Spaces
  • Driveway
  • Uncovered Parking
  • Parking Lot
  • Parking Included in Price

Utilities

  • Baseboard Heating
  • Heating System Uses Natural Gas
  • Multiple Water Heaters

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $1,200
  • Gross Income $55,200
  • Net Operating Income $43,150

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,470

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1962
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • New Construction Y/N: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 8
  • Total Bedrooms: 8
  • Other Equipment: Multiple Water Heaters
  • Basement Description: Finished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 4
  • Half Bathrooms in Building: 4
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer
  • AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer
  • Room: 7

Exterior Features

  • List Price: 410000
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking Features: Driveway, Parking Lot
  • ParkingTotal: 8
  • Number of Cars: 8
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Baseboard
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Other

Fee Information

  • Other Expenses $: 1350

Schools

  • Middle/Junior School District: 46

Lot Info

  • Lot Size Acres: 0.22
  • Lot Dimensions: 74 X 130
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 5
  • Is Parking Included in Price: Yes
  • TenantPays: Electric,Gas,Heat,Scavenger,Sewer,Water

Multi Family

  • Net Operating Income: 43150
  • Insurance Expense: 1200
  • GrossIncome: 55200
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 9470.4
  • Tax Year: 2020
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 7, 2022
Closed on
Jun 20, 2022
Sold by
Bernasek Mary E
Bought by
Jeyaa Realty Llc
Seller's Agent
Rudy Johnson
Keller Williams Inspire - Geneva
Buyer's Agent
Jayesh Parekh
Charles Rutenberg Realty of IL
List Price
$410,000
Sold Price
$456,000
Premium/Discount to List
$46,000
11.22%
Current Estimated Value
$540,400

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$84,400
Avg. Annual Appreciation
5.35%
Source: Public Records

Range of Values:

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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
Jeyaa Realty Llc $456,000 Wick Melissa A
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/24/2022 06/24/22 Sold $456,000 +11.2% --
06/11/2022 06/11/22 Pending -- -- --
06/07/2022 06/07/22 For Sale $410,000 -- --
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 $11,302 $141,230 $30,707 $110,523
2023 $10,876 $127,590 $27,741 $99,849
2022 $10,088 $116,340 $25,295 $91,045
2021 $9,704 $108,770 $23,649 $85,121
2020 $9,470 $103,838 $22,577 $81,261
2019 $9,238 $98,912 $21,506 $77,406
2018 $9,212 $93,181 $20,260 $72,921
2017 $9,639 $93,712 $20,376 $73,336
2016 $10,078 $94,498 $18,903 $75,595
2015 -- $86,616 $17,326 $69,290
2014 -- $85,547 $17,112 $68,435
2013 -- $87,803 $17,563 $70,240
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11427426

Midwest Real Estate Data (MRED)

APN: 06-22-128-002