NOT LISTED FOR SALE

Estimated Value: $279,000 - $775,000

12 Beds
8 Baths
-- Sq Ft
0.5 Acres

Last Sold January 25, 2024

Last sale price $625,000

Est. 13% decrease in value since last sale

Current estimated payment $3,201/month

52 Days on Market

About This Home

As of January 2024

VERY NICE 8 UNIT BUILDING WITH MAJOR UPSIDE ON RENTS, ORIGINALLY BUILT AS CONDOS. This is an 8 Unit building with 4 (2Bed/1Bath) & 4 (1Bed/1Bath) Units. Each Tenant is on a Month to Month Lease. Each unit has its own individual furnace and A/C unit which tenants are responsible for paying, as well as their own electric bill. The landlord is responsible for water, garbage, common gas (water heater), and common electric (common areas & exterior lights). The building has had many recent improvements that include roof, major tuck pointing, replacement of balconies with TREX decking, concrete patios/steps, landscaping, multiple furnace/AC replacements, majority of bathrooms remodeled and multiple kitchens remodeled. The parking lot is in great shape with two parking spots per unit, the tenants have access to laundry room, and a back yard area. This is located directly off Route 30 in Matteson very close to I-57.

Last Agent to Sell the Property

Anthony Spangler

Horvath & Tremblay IL, LLC License #475173833 Listed on: 09/21/2023

Last Buyer's Agent

Anthony Spangler

Horvath & Tremblay IL, LLC License #475173833 Listed on: 09/21/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $21,578

Year Built

  • Built in 1976

Lot Details

  • 0.5 Acre Lot
  • Lot Dimensions are 110x300
  • Additional Parcels

Home Design

  • Garden Apartment

Interior Spaces

  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 8 Bathrooms

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat

Community Details

Overview

  • 8 Units

Building Details

  • Electric Expense $800
  • Fuel Expense $1,500
  • Insurance Expense $3,500
  • Maintenance Expense $2,575
  • Other Expense $1,710
  • Trash Expense $2,000
  • Water Sewer Expense $2,000
  • Operating Expense $35,663
  • Gross Income $74,100
  • Net Operating Income $39,437

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$21,578

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Garden Complex
  • Stories: 2
  • Year Built: 1976
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8
  • Total Bedrooms: 12
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 700000

Utilities

  • Heat/Ventilation: Central Heat/Indiv Controls,Forced Air,Gas

Fee Information

  • Trash Expense: 2000
  • Water Sewer Expenses: 2000
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: Yes
  • Lot Size Acres: 0.5
  • Lot Dimensions: 110X300

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Board Number: 8

Multi Family

  • Net Operating Income: 39437
  • Fuel Expense: 1500
  • Insurance Expense: 3500
  • ElectricExpense: 800
  • GrossIncome: 74100
  • Maintenance Expense: 2575
  • NumberOfUnitsTotal: 8
  • OperatingExpense: 35663
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 21578
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 21, 2023
Closed on
Jan 24, 2024
Sold by
2330 182Nd Place Llc
Bought by
Wenus Properties Ltd
Seller's Agent
Anthony Spangler
Horvath & Tremblay IL, LLC
Buyer's Agent
Anthony Spangler
Horvath & Tremblay IL, LLC
List Price
$700,000
Sold Price
$625,000
Premium/Discount to List
-$75,000
-10.71%
Views
62
Current Estimated Value
$545,667

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$79,333
Avg. Annual Appreciation
-33.12%
Original Mortgage
$480,000
Outstanding Balance
$473,894
Interest Rate
6.66%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$142,894

Purchase Details

Listed on
Jun 5, 2018
Closed on
Dec 20, 2018
Sold by
Monty Titling Trust 1
Bought by
2330 182Nd Place Llc
Seller's Agent
Jeffrey Schultz
Kinzie Brokerage LLC
Buyer's Agent
Jeffrey Schultz
Kinzie Brokerage LLC
List Price
$299,000
Sold Price
$300,000
Premium/Discount to List
$1,000
0.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.54%
Original Mortgage
$221,250
Interest Rate
4.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 4, 2005
Sold by
Lasalle Bank Na
Bought by
Harris Bank & Trust and Trust #113383
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
Wenus Properties Ltd $625,000 Chicago Title
2330 182Nd Place Llc $300,000 Fidelity National Title
Harris Bank & Trust $187,000 Lawyers
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Wenus Properties Ltd $480,000
Previous Owner 2330 182Nd Place Llc $221,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/25/2024 01/25/24 Sold $625,000 -10.7% --
11/13/2023 11/13/23 Pending -- -- --
09/27/2023 09/27/23 For Sale $700,000 0.0% --
09/27/2023 09/27/23 Off Market $700,000 -- --
09/21/2023 09/21/23 For Sale $700,000 +133.3% --
12/28/2018 12/28/18 Sold $300,000 +0.3% --
11/06/2018 11/06/18 Pending -- -- --
10/16/2018 10/16/18 For Sale $299,000 0.0% --
09/27/2018 09/27/18 Pending -- -- --
06/05/2018 06/05/18 For Sale $299,000 -- --
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 $2,740 $6,630 $843 $5,787
2023 $2,216 $6,630 $843 $5,787
2022 $2,216 $4,087 $948 $3,139
2021 $2,247 $4,085 $947 $3,138
2020 $2,081 $4,085 $947 $3,138
2019 $2,102 $4,062 $842 $3,220
2018 $2,311 $4,466 $842 $3,624
2017 $2,219 $4,466 $842 $3,624
2016 $1,934 $3,934 $737 $3,197
2015 $2,271 $4,658 $737 $3,921
2014 $2,199 $4,658 $737 $3,921
2013 $1,297 $3,006 $737 $2,269
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11891213

Midwest Real Estate Data (MRED)

APN: 31-22-402-024-1001