NOT LISTED FOR SALE

22 W Grand Ave Fox Lake, IL 60020

Estimated Value: $1,078,879

15 Beds
8 Baths
-- Sq Ft
0.45 Acres

Last Sold April 26, 2021

Last sale price $740,000

Est. 46% increase in value since last sale

Current estimated payment $7,616/month

4 Days on Market

About This Home

As of April 2021

One-Story 8-Unit with high demand location, sunset views of Pistakee Lake and within easy walking distance to dining, downtown Fox Lake & Metra. All units are fully rented and have had various updates and refreshing done the past 5 years. Seven 2br units and one 1br, all have nice size bedrooms, ample living room and eat in kitchens with sliding glass doors to patio space. (1br does not have slider) Building has new water heater & siding replaced 2020, storage shed 2019, water softener 2017 & roof 2015. Single unit coin laundry on site. Management couple lives on site with reduced rent $575. Excellent investment!

Last Agent to Sell the Property

Holly Blanchette

Lake Homes Realty, LLC License #471020440 Listed on: 02/04/2021

Lake Homes Realty, LLC

Last Buyer's Agent

Melissa Rigoni

Baird & Warner License #471021165

Baird & Warner

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,947

Year Built

  • 1970

Lot Details

  • 0.45

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Utilities

  • Window Unit Cooling System

Community Details

  • Fuel Expense $7,000
  • Insurance Expense $3,400
  • Manager Expense $4,800

Listing and Financial Details

  • Tenant pays for electric

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,947

Year Built

1970

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Current Use: Residential-Multi-Family
  • Ownership Type: Corporation
  • Zoning Type: MULTI
  • Estimated Age: 36-50 Years
  • Net Operating Income Year: 2021
  • Net Oper Income: 46834
  • Outdoor Parking: 6-12 Spaces
  • Repairs Decor Expense: 5000
  • Roof Coverings: Shingle Composition
  • Scavenger Expense: 1500
  • Total Annual Exp: 20000
  • Total Annual Income: 92220
  • Total Monthly Income: 7685
  • Number of Ranges: 8
  • Number Of Refrigs: 8
  • Number Of Stories: 1
  • Estimated Year Built: 1970
  • Type Multi Family: Corridor-Exterior Entrance
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1
  • Year Built: 1970

Exterior Features

  • Foundation: Concrete
  • Exterior Building Type: Brick
  • Acreage: 0.45
  • Construction: Brick

Garage/Parking

  • Number Of Parking Spaces: 12

Utilities

  • Air Conditioner: Window Unit/s
  • Heatventilation: Central Bldg Heat, Hot Water, Baseboard
  • Water Expense: 6500

Condo/Co-op/Association

  • Units in Building: 8
  • Manager Expense: 4800

Fee Information

  • Electricity Expense: 1000

Lot Info

  • Lot Dimensions: 100X200
  • Land Amenities: Lighting/Exterior, Sidewalks, Cable Ready
  • Parcel Identification Number: 05092120130000

Rental Info

  • Gross Rental Income: 91620
  • Tenant Pays: Electric

Multi Family

  • Expense Year: 2021
  • Fuel Expense: 7000
  • Insurance Expense: 3400
  • Other Expenses: 2400
  • Number Of Dryers: 1
  • Number Of Washers: 1

Tax Info

  • Taxes: 17945

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 4, 2021
Closed on
Apr 26, 2021
Sold by
Bpm1 Inc
Bought by
Nscg 22 W Grand Avenue Llc
Seller's Agent
Holly Blanchette
Lake Homes Realty, LLC
Buyer's Agent
Melissa Rigoni
Baird & Warner
List Price
$695,000
Sold Price
$740,000
Premium/Discount to List
$45,000
6.47%
Current Estimated Value
$1,078,879

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$338,879
Avg. Annual Appreciation
8.74%

Purchase Details

Listed on
May 5, 2016
Closed on
Sep 15, 2016
Sold by
Life Is Grand Fox Lake Llc
Bought by
Bpm1 Inc
Seller's Agent
Troy Louis
First Class Realty
Buyer's Agent
Holly Blanchette
Lake Homes Realty, LLC
List Price
$625,000
Sold Price
$500,000
Premium/Discount to List
-$125,000
-20%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.88%
Original Mortgage
$400,000
Interest Rate
4.25%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 14, 2012
Sold by
American Real Estate Investment No 13 Ll
Bought by
Life Is Grand Fox Lake Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$262,500
Interest Rate
5.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 10, 2012
Sold by
Graff
Bought by
American Real Estate Investments #13 Llc

Purchase Details

Closed on
Jan 11, 2007
Sold by
22 W Grand Llc
Bought by
Graff Mark A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$486,400
Interest Rate
6.19%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 15, 2006
Sold by
22 Grand Llc
Bought by
22 Grand Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$486,400
Interest Rate
6.19%
Mortgage Type
Commercial

Purchase Details

Closed on
May 31, 1994
Sold by
Muehlfelder Walter E and Muehlfelder Shirley May Lee
Bought by
22 Grand L L C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,000
Interest Rate
8.48%
Mortgage Type
Seller Take Back
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
Nscg 22 W Grand Avenue Llc $740,000 Chicago Title Insurance Co
Bpm1 Inc $500,000 Chicago Title Insurance Co
Life Is Grand Fox Lake Llc $350,000 Fidelity National Title
American Real Estate Investments #13 Llc -- Accommodation
Graff Mark A $608,000 Multiple
22 Grand Llc -- Ticor
22 Grand L L C $145,000 --
22 Grand L L C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Bpm1 Inc $400,000
Previous Owner Life Is Grand Fox Lake Llc $262,500
Previous Owner Graff Mark A $486,400
Previous Owner 22 Grand L L C $145,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/26/2021 04/26/21 Sold $740,000 +6.5% --
02/08/2021 02/08/21 Pending -- -- --
02/04/2021 02/04/21 For Sale $695,000 0.0% --
04/23/2018 04/23/18 Rented $750 0.0% --
04/02/2018 04/02/18 For Rent $750 0.0% --
09/15/2016 09/15/16 Sold $500,000 -20.0% -- View Prior Sale
08/02/2016 08/02/16 Pending -- -- --
05/05/2016 05/05/16 For Sale $625,000 -- --
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 $22,947 $283,305 $56,076 $227,229
2023 $22,947 $261,493 $52,827 $208,666
2022 $19,262 $211,721 $55,584 $156,137
2021 $18,248 $194,804 $47,630 $147,174
2020 $18,289 $192,019 $46,949 $145,070
2019 $17,945 $189,140 $50,024 $139,116
2018 $17,171 $179,196 $49,270 $129,926
2017 $16,790 $165,631 $45,540 $120,091
2016 $16,951 $151,483 $41,650 $109,833
2015 $16,166 $165,355 $38,867 $126,488
2014 $12,620 $115,051 $38,674 $76,377
2012 $12,562 $129,667 $40,298 $89,369
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD10988683

Midwest Real Estate Data (MRED)

APN: 05-09-212-013