$560,000
SOLD NOV 6, 2024

18217 Exchange Ave Lansing, IL 60438

8 Beds
8 Baths
-- Sq Ft
7,822 Sq Ft Lot

Recently Sold

19 Days on Market

Highlights

  • Cul-De-Sac
  • Baseboard Heating
  • 4-minute walk to Oakley Playlot

About This Home

As of November 2024

Great investment opportunity in the Landing area! This 2-story, 8-unit brick building is fully rented and situated in a cul-de-sac, making it a prime location for tenants. The property also features a convenient on-site laundry area. With its solid construction and rental history, this is a rare chance to acquire a profitable, well-maintained building in a sought-after location. Don't miss out on this fantastic opportunity!

Last Agent to Sell the Property

Maria Castillo

RE/MAX MI CASA License #475122116 Listed on: 08/17/2024

RE/MAX MI CASA

Last Buyer's Agent

Beco Kalamperovic

Dream Town Real Estate License #475136788

Dream Town Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,158

Year Built

  • Built in 1963

Lot Details

  • 7,822 Sq Ft Lot
  • Lot Dimensions are 121x140
  • Cul-De-Sac
  • Additional Parcels

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Concrete Perimeter Foundation

Interior Spaces

  • 2-Story Property
  • Unfinished Basement
  • Exterior Basement Entry

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Hot Water Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 8 Units

Building Details

  • Electric Expense $701
  • Fuel Expense $3,569
  • Insurance Expense $2,905
  • Trash Expense $2,136
  • Water Sewer Expense $1,811
  • Operating Expense $30,280
  • Gross Income $94,800
  • Net Operating Income $64,520

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,158

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 2
  • Year Built: 1963
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required,Show-Call Listing Office
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8
  • Total Bedrooms: 8
  • Basement Description: Unfinished
  • Fireplaces: 1
  • Refrigerators: 8
  • Ranges: 8
  • Number of Washers: 1
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • List Price: 560000
  • Exterior Building Type: Brick

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Wall Sleeve
  • Heat/Ventilation: Gas,Hot Water,Baseboard
  • Leased Washer Dryer YN: Yes

Condo/Co-op/Association

  • Unincorporated (Y/N): No

Fee Information

  • Trash Expense: 2136
  • Water Sewer Expenses: 1811
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: Yes
  • Lot Size Acres: 0.18
  • Lot Dimensions: 121X140
  • Lot Size Sq Ft: 7822
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 64520
  • Fuel Expense: 3569
  • Insurance Expense: 2905
  • ElectricExpense: 701
  • GrossIncome: 94800
  • NumberOfUnitsTotal: 8
  • OperatingExpense: 30280
  • Expense Year: 2023
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 19158
  • Tax Year: 2023

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

Property History

Date Event Price Change Sq Ft Price
11/06/2024 11/06/24 Sold $560,000 0.0% --
09/05/2024 09/05/24 Pending -- -- --
09/05/2024 09/05/24 Off Market $560,000 -- --
08/17/2024 08/17/24 For Sale $560,000 0.0% --
03/30/2018 03/30/18 Rented $775 0.0% --
03/09/2018 03/09/18 Under Contract -- -- --
02/12/2018 02/12/18 For Rent $775 0.0% --
02/08/2018 02/08/18 Under Contract -- -- --
01/31/2018 01/31/18 Off Market $775 -- --
01/19/2018 01/19/18 For Rent $775 +3.3% --
12/01/2017 12/01/17 Rented $750 0.0% --
11/03/2017 11/03/17 Under Contract -- -- --
10/19/2017 10/19/17 For Rent $750 -- --
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: 12137546

Midwest Real Estate Data (MRED)