NOT LISTED FOR SALE

156 S May Ave Kankakee, IL 60901

Estimated Value: $181,000 - $217,000

4 Beds
4 Baths
-- Sq Ft
7,405 Sq Ft Lot

Last Sold September 28, 2023

Last sale price $168,000

Est. 20% increase in value since last sale

Current estimated payment $1,241/month

26 Days on Market

About This Home

As of September 2023

Great investment and money making opportunity! Well maintained brick 3- building. 2 - 2 Bdrm units and an efficiency/studio unit in the basement! All have current leases. $2280 gross income per month! Rents could be raised to match market price too. Ownership pays some utilities. One thermostat on main floor controls heat for the entire building and is the only unit with access to the washer/dryer. 2 car heated detached garage. Lower unit rents for $450, middle unit rents for $900, Upper rents for $730, garage rents for $200. All rents current. ALL BUYERS REQUIRED TO SHOW PROOF OF FUNDS OR PREAPPROVAL PRIOR TO ENTERING PER SELLER.

Last Agent to Sell the Property

Lee LaMontagne

Coldwell Banker Realty License #475136373 Listed on: 07/28/2023

Coldwell Banker Realty

Co-Listed By

Alyssa LaMontagne

Coldwell Banker Realty License #475196338

Last Buyer's Agent

Lee LaMontagne

Coldwell Banker Realty License #475136373 Listed on: 07/28/2023

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,838

Year Built

  • Built in 1950

Lot Details

  • 7,405 Sq Ft Lot
  • Lot Dimensions are 149.9x50

Parking

  • 2.5 Car Detached Garage
  • Heated Garage
  • Parking Space is Owned

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Potential Bedrooms
  • 4 Bathrooms

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Bedroom in Basement

Schools

  • John Kennedy Middle Grade Elementary School
  • Lincoln Cltrl Ctr-Montessori Ele Middle School
  • Kankakee High School

Additional Features

  • 2-Story Property
  • Heating System Uses Natural Gas

Community Details

Overview

  • 3 Units

Building Details

  • Gross Income $24,120
  • Net Operating Income $13,733

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,838

Year Built

Built in 1950

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1950
  • Age: 71-80 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 4
  • Total Bedrooms: 4
  • Basement Description: Partially Finished,Sleeping Area
  • Below Grade Bedrooms: 0

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Brick

Garage/Parking

  • Garage Spaces: 2.5
  • Number of Cars: 2.5
  • Garage Details: Heated
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

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

Schools

  • Elementary School: John Kennedy Middle Grade School
  • High School: Kankakee High School
  • Middle/Junior School: Lincoln Cltrl Ctr-Montessori Ele

Lot Info

  • Lot Size Acres: 0.17
  • Lot Dimensions: 149.9X50
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 21

Multi Family

  • Net Operating Income: 13733
  • GrossIncome: 24120
  • Units in Building: 3
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Story Unit/s

Tax Info

  • Tax Annual Amount: 5838
  • Tax Year: 2022
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 28, 2023
Closed on
Sep 22, 2023
Sold by
Beasley Molly A
Bought by
Shaqildi Ahmad and Shaqildi Mohammad
Seller's Agent
Lee LaMontagne
Coldwell Banker Realty
Buyer's Agent
Lee LaMontagne
Coldwell Banker Realty
List Price
$189,900
Sold Price
$168,000
Premium/Discount to List
-$21,900
-11.53%
Views
150
Current Estimated Value
$200,946

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$32,946
Avg. Annual Appreciation
8.06%

Purchase Details

Closed on
Sep 7, 2022
Sold by
Trust Number 2953
Bought by
Beasley Molly A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
4.58%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 12, 2021
Closed on
Apr 6, 2021
Sold by
Russow Justin W and Russow Jennifer L
Bought by
Trust Number 2953
Seller's Agent
Kelly Winterroth
McColly Bennett Real Estate
Buyer's Agent
Paul Kirkpatrick
Exclusive Realtors
List Price
$120,000
Sold Price
$110,000
Premium/Discount to List
-$10,000
-8.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.40%
Original Mortgage
$110,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 18, 2019
Sold by
Merrill Rusti L
Bought by
Russow Justin W and Russow Jennifer L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$55,500
Interest Rate
3.4%
Mortgage Type
New Conventional
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
Shaqildi Ahmad $163,000 Kankakee County Title
Beasley Molly A $145,000 Kankakee County Title
Trust Number 2953 $110,000 Homestar Title
Russow Justin W $74,000 New Title Company Name
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Beasley Molly A $140,000
Previous Owner Trust Number 2953 $110,000
Previous Owner Russow Justin W $55,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/28/2023 09/28/23 Sold $168,000 -6.6% --
08/24/2023 08/24/23 Pending -- -- --
08/07/2023 08/07/23 Price Changed $179,900 -5.3% --
07/28/2023 07/28/23 For Sale $189,900 +72.6% --
04/05/2021 04/05/21 Sold $110,000 -8.3% -- View Prior Sale
03/06/2021 03/06/21 Pending -- -- --
02/12/2021 02/12/21 For Sale $120,000 -- --
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 $6,514 $55,099 $5,634 $49,465
2023 $6,276 $49,086 $5,019 $44,067
2022 $5,838 $42,964 $4,393 $38,571
2021 $5,510 $38,882 $3,976 $34,906
2020 $5,112 $34,950 $3,574 $31,376
2019 $4,872 $32,512 $3,325 $29,187
2018 $4,691 $30,104 $3,079 $27,025
2017 $5,254 $29,441 $3,011 $26,430
2016 $4,924 $28,864 $2,952 $25,912
2015 $4,756 $29,453 $3,012 $26,441
2014 $5,391 $34,650 $3,012 $31,638
2013 -- $36,094 $3,138 $32,956
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11844900

Midwest Real Estate Data (MRED)

APN: 16-09-31-405-005