NOT LISTED FOR SALE

18346 Torrence Ave Lansing, IL 60438

11 Beds
9 Baths
-- Sq Ft
8,712 Sq Ft Lot

Last Sold March 13, 2023

Last sale price $392,000

50 Days on Market

About This Home

As of March 2023

18346 Torrence Avenue consists of a two-story multi-family brick building with seven (7) residential units comprised of five (5) 1-Bedroom/1-Bathroom units and two (2) 2-Bedroom/1-Bathroom units with 3,900 square feet of living area in 4,500 square feet of total gross area on a 0.2-acre parcel of land. The Property features an on-site laundry facility and parking for seven vehicles. The building also has new composite walkways, and a new boiler. The vacant units are being remodeled with new tile baths, new carpet, and updated appliances. Additionally, many of the windows have been replaced.

Last Agent to Sell the Property

Anthony Spangler

Horvath & Tremblay IL, LLC License #475173833 Listed on: 12/05/2022

Last Buyer's Agent

Terrence Galloway

Signature Real Estate Services License #471016731

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,745

Year Built

  • Built in 1963

Lot Details

  • 8,712 Sq Ft Lot
  • Lot Dimensions are 50x150

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 9 Bathrooms

Utilities

  • Radiator
  • Heating System Uses Gas

Additional Features

  • 2-Story Property
  • Courtyard

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 7 Units

Building Details

  • Electric Expense $418
  • Fuel Expense $2,849
  • Insurance Expense $2,729
  • Maintenance Expense $2,850
  • Manager Expense $2,998
  • Other Expense $1,250
  • Trash Expense $1,750
  • Water Sewer Expense $1,771
  • Operating Expense $31,361
  • Gross Income $61,860
  • Net Operating Income $28,605

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,745

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Courtyard
  • Stories: 2
  • Year Built: 1963
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 9
  • Total Bedrooms: 11
  • Room: 0

Utilities

  • Heat/Ventilation: Gas,Radiators

Condo/Co-op/Association

  • Manager Expense: 2998

Fee Information

  • Trash Expense: 1750
  • Water Sewer Expenses: 1771

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.2
  • Lot Dimensions: 50X150

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 28605
  • Fuel Expense: 2849
  • Insurance Expense: 2729
  • ElectricExpense: 418
  • GrossIncome: 61860
  • Maintenance Expense: 2850
  • NumberOfUnitsTotal: 7
  • OperatingExpense: 31361
  • Type Multi-Family: Courtyard

Tax Info

  • Tax Annual Amount: 14745
  • Tax Year: 2021
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
03/13/2023 03/13/23 Sold $392,000 -2.0% --
01/25/2023 01/25/23 Pending -- -- --
12/05/2022 12/05/22 For Sale $400,000 -- --
Source: Midwest Real Estate Data (MRED)

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
2025 $16,770 $34,662 $4,434 $30,228
2024 $16,770 $34,662 $4,434 $30,228
2023 $15,156 $34,662 $4,434 $30,228
2022 $15,156 $23,321 $5,643 $17,678
2021 $14,742 $23,320 $5,642 $17,678
2020 $13,682 $23,320 $5,642 $17,678
2019 $11,952 $20,994 $5,239 $15,755
2018 $11,731 $20,994 $5,239 $15,755
2017 $13,890 $24,618 $5,239 $19,379
2016 $14,537 $26,586 $4,836 $21,750
2015 $13,507 $26,586 $4,836 $21,750
2014 $13,321 $26,586 $4,836 $21,750
2013 $12,299 $27,315 $4,836 $22,479
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11683293

Midwest Real Estate Data (MRED)
Your Personal Tour Guide

Ask me questions while you tour the home.