NOT LISTED FOR SALE

1621 Meyer St Elgin, IL 60123

Estimated Value: $693,000 - $820,397

12 Beds
6 Baths
5,760 Sq Ft
$127/Sq Ft Est. Value

Last Sold November 15, 2017

Last sale price $336,000 $58 Per Sq Ft

Est. 118% increase in value since last sale

Current estimated payment $5,144/month

38 Days on Market

About This Home

As of November 2017

ALL BRICK SIX UNIT PROPERTY. ALL TWO BEDROOM UNITS ABOVE GRADE. ALL UNITS ARE THE SAME FLOOR PLAN. THERE IS A FULL BASEMENT FOR STORAGE. FORMERLY WAS AN EIGHT UNIT WITH TWO UNITS IN THE BASEMENT THAT WERE REMOVED PER THE CITY. LARGE PARKING LOT AND HUGE DOUBLE LOT WITH LOTS OF GREEN SPACE ON THE CORNER. SEPARATE ELECTRIC FOR EACH UNIT.

Last Agent to Sell the Property

Ben Henrikson

RE/MAX Horizon License #475091643 Listed on: 08/08/2017

RE/MAX Horizon

Last Buyer's Agent

Ben Henrikson

RE/MAX Horizon License #475091643 Listed on: 08/08/2017

RE/MAX Horizon

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,431

Year Built

  • Built in 1969

Lot Details

  • 0.52 Acre Lot
  • Lot Dimensions are 160x130

Home Design

  • Brick Exterior Construction
  • Concrete Perimeter Foundation

Interior Spaces

  • 5,760 Sq Ft Home
  • 2-Story Property
  • Exterior Basement Entry

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 6 Bathrooms

Utilities

  • Hot Water Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $1,344
  • Fuel Expense $3,109
  • Insurance Expense $3,200
  • Other Expense $2,350
  • Trash Expense $1,356
  • Water Sewer Expense $2,855
  • Operating Expense $27,600
  • Gross Income $52,500
  • Net Operating Income $24,900

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,431

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 2
  • Year Built: 1969
  • Built Before 1978 (Y/N): Yes
  • Information: No Sign on Property
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 12
  • Refrigerators: 6
  • Ranges: 6
  • Number of Windows: 6
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • List Price: 360000
  • Exterior Building Type: Brick

Utilities

  • Heat/Ventilation: Gas,Hot Water

Fee Information

  • Trash Expense: 1356
  • Water Sewer Expenses: 2855
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.52
  • Lot Dimensions: 160X130
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity
  • Board Number: 5

Building Info

  • BuildingAreaTotal: 5760

Multi Family

  • Net Operating Income: 24900
  • Fuel Expense: 3109
  • Insurance Expense: 3200
  • ElectricExpense: 1344
  • GrossIncome: 52500
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 27600
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 13431
  • Tax Year: 2016

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 8, 2017
Closed on
Nov 6, 2017
Sold by
Smith Steven W and Terry Tom Clifford
Bought by
Gomez Oscar
Seller's Agent
Ben Henrikson
RE/MAX Horizon
Buyer's Agent
Ben Henrikson
RE/MAX Horizon
List Price
$360,000
Sold Price
$336,000
Premium/Discount to List
-$24,000
-6.67%
Current Estimated Value
$734,099

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$398,099
Avg. Annual Appreciation
10.41%
Original Mortgage
$172,000
Interest Rate
4.69%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 27, 2008
Sold by
Lima Wilna and Smith Steven W
Bought by
Lima Wilna and Smith Steven W
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
Gomez Oscar $1,008,000 Chicago Title Ins Co
Lima Wilna -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Gomez Oscar $172,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/13/2018 02/13/18 Off Market $336,000 -- --
11/15/2017 11/15/17 Sold $336,000 -6.7% $58 / Sq Ft
09/15/2017 09/15/17 Pending -- -- --
09/08/2017 09/08/17 For Sale $360,000 0.0% $63 / Sq Ft
08/18/2017 08/18/17 Pending -- -- --
08/08/2017 08/08/17 For Sale $360,000 -- $63 / 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 $15,020 $187,684 $35,607 $152,077
2023 $14,454 $169,558 $32,168 $137,390
2022 $13,406 $154,608 $29,332 $125,276
2021 $12,896 $144,547 $27,423 $117,124
2020 $12,585 $137,992 $26,179 $111,813
2019 $12,277 $131,446 $24,937 $106,509
2018 $12,243 $123,830 $23,492 $100,338
2017 $12,809 $124,535 $23,625 $100,910
2016 $13,431 $125,937 $21,918 $104,019
2015 -- $115,433 $20,090 $95,343
2014 -- $114,008 $19,842 $94,166
2013 -- $117,015 $20,365 $96,650
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 09717834

Midwest Real Estate Data (MRED)

APN: 06-22-102-029