NOT LISTED FOR SALE

18428 Torrence Ave Lansing, IL 60438

10 Beds
6 Baths
-- Sq Ft
1963 Built

Last Sold June 02, 2023

Last sale price $390,000

279 Days on Market

About This Home

As of June 2023

SEE DOCUMENTS FOR UPDATES!!! CAN BE BUNDLED WITH 18440 TORRENCE MLS #11400324 AS IS. 6 UNIT BRICK BUILDING HAS 2 ONE BEDROOM UNITS ON FIRST FLOOR THAT PAY THEIR OWN ELECTRIC HEAT AND 4 TWO BEDROOM UNITS WITH BASE BOARD HEAT. LAUNDRY EQUIPMENT OWNED BY BUILDING. $2,000 Earnest Monies due within 24 hours of agreed contract

Last Agent to Sell the Property

Leslie Bogs

Bogs Management, Inc. License #471020995 Listed on: 05/10/2022

Last Buyer's Agent

Anthony Spangler

Horvath & Tremblay IL, LLC License #475173833

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,496

Year Built

  • Built in 1963

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Hot Water Heating System

Additional Features

  • 3-Story Property
  • Lot Dimensions are 68 x 120

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $304
  • Fuel Expense $2,596
  • Insurance Expense $2,469
  • Maintenance Expense $2,842
  • Manager Expense $5,161
  • Other Expense $5,367
  • Trash Expense $1,269
  • Water Sewer Expense $2,596
  • Operating Expense $36,574
  • Gross Income $61,860
  • Net Operating Income $24,316

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,496

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1963
  • Built Before 1978 (Y/N): Yes
  • Information: 48-Hr Notice Required
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 10
  • Possible Use: Multi-Family
  • Fireplaces: 1
  • Refrigerators: 6
  • Ranges: 6
  • Number of Washers: 1
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick
  • Roof Structure: Flat

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Wall Sleeve
  • Electric: Circuit Breakers
  • Heat/Ventilation: Electric,Hot Water
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Manager Expense: 5161
  • Unincorporated (Y/N): No
  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1269
  • Water Sewer Expenses: 2596

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 68 X 120
  • Zoning: MULTI
  • Land Amenities: Curbs and Gutters,Lighting/Exterior,Sidewalks,Cable Ready

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 10
  • Tenancy Type: Leases

Building Info

  • Building Unit Info: No Units Furnished

Multi Family

  • Net Operating Income: 24316
  • Fuel Expense: 2596
  • Insurance Expense: 2469
  • ElectricExpense: 304
  • GrossIncome: 61860
  • Maintenance Expense: 2842
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 36574
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 10496
  • Tax Year: 2020
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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 List to Sale Price per Sq Ft
06/02/2023 06/02/23 Sold $390,000 -4.9% --
02/15/2023 02/15/23 Pending -- -- --
02/06/2023 02/06/23 Price Changed $410,000 -0.7% --
01/24/2023 01/24/23 Price Changed $413,000 -1.2% --
12/30/2022 12/30/22 Price Changed $418,000 -0.5% --
12/09/2022 12/09/22 Price Changed $420,000 -1.2% --
11/02/2022 11/02/22 Price Changed $425,000 -1.2% --
09/12/2022 09/12/22 Price Changed $430,000 -1.1% --
08/22/2022 08/22/22 Price Changed $435,000 -1.1% --
08/08/2022 08/08/22 Price Changed $440,000 -0.7% --
07/28/2022 07/28/22 Price Changed $443,210 -0.1% --
07/26/2022 07/26/22 Price Changed $443,456 -0.1% --
07/16/2022 07/16/22 Price Changed $444,000 -0.1% --
06/25/2022 06/25/22 Price Changed $444,444 -0.1% --
05/11/2022 05/11/22 For Sale $445,000 -- --
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
2025 $15,828 $32,714 $4,469 $28,245
2024 $15,828 $32,714 $4,469 $28,245
2023 $11,627 $34,584 $4,469 $30,115
2022 $11,627 $17,890 $3,859 $14,031
2021 $11,309 $17,890 $3,859 $14,031
2020 $10,496 $17,890 $3,859 $14,031
2019 $12,975 $22,790 $3,250 $19,540
2018 $13,720 $24,553 $3,250 $21,303
2017 $13,853 $24,553 $3,250 $21,303
2016 $12,573 $22,994 $3,046 $19,948
2015 $11,682 $22,994 $3,046 $19,948
2014 $11,521 $22,994 $3,046 $19,948
2013 $10,716 $23,798 $3,046 $20,752
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11400287

Midwest Real Estate Data (MRED)