R
Seller's Agent in 2021
Robert Drafke
Concentric Realty, Inc
(630) 641-9434
2 in this area
17 Total Sales
224 Jefferson Ave Elgin, IL 60120
Northeast Elgin NeighborhoodEstimated Value: $741,000 - $1,424,106
15
Beds
15
Baths
10,500
Sq Ft
$103/Sq Ft
Est. Value
About This Home
As of December 20217.22 CAP ! Completely stabilized and fully rented! Brand New boiler and heat exchangers! Security camera for entire building! All units are 1 BR, 1 BATH in this solid brick building! So much has been done here recently! Newer carpeting and fresh paint in common areas! Coin-operated laundry machines Newly repaved and striped driveway! Rebuilt front and back entrance stairs! Newer gutters on the building and garage! Six units are completely remodeled and 2 are partially remodeled! The building is located near downtown Elgin! AGENT INTEREST
Last Agent to Sell the Property
Concentric Realty, Inc License #475166517 Listed on: 07/21/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $18,064
Year Built
- Built in 1920
Lot Details
- 0.25 Acre Lot
- Lot Dimensions are 96x134x83x137
Parking
- 6 to 12 Parking Spaces
Interior Spaces
- 10,500 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 15 Bedrooms
- 15 Bathrooms
Utilities
- No Cooling
- Heating System Uses Steam
- Heating System Uses Gas
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 15 Units
Building Details
- Electric Expense $997
- Fuel Expense $2,339
- Insurance Expense $3,429
- Other Expense $1,344
- Trash Expense $1,740
- Water Sewer Expense $6,075
- Operating Expense $33,988
- Gross Income $146,664
- Net Operating Income $118,112
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 21, 2021
Closed on
Dec 20, 2021
Sold by
224 Jefferson Llc
Bought by
224 Jefferson Ave Llc
Seller's Agent
Robert Drafke
Concentric Realty, Inc
Buyer's Agent
Jake Fugman
eXp Realty
List Price
$1,320,000
Sold Price
$1,175,000
Premium/Discount to List
-$145,000
-10.98%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$109,188
Avg. Annual Appreciation
-2.23%
Original Mortgage
$940,000
Outstanding Balance
$472,052
Interest Rate
3.12%
Mortgage Type
Commercial
Estimated Equity
$610,501
Purchase Details
Listed on
Oct 9, 2020
Closed on
Dec 22, 2020
Sold by
Sub City Villas Llc
Bought by
224 Jefferson Llc
Seller's Agent
Matt Lysien
Suburban Life Realty, Ltd
Buyer's Agent
Robert Drafke
Concentric Realty, Inc
List Price
$1,100,000
Sold Price
$1,000,000
Premium/Discount to List
-$100,000
-9.09%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.13%
Original Mortgage
$780,000
Interest Rate
4%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 18, 2018
Sold by
A Place Of Our Own Llc
Bought by
Subcity Villas Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$997,050
Interest Rate
4.6%
Mortgage Type
Commercial
Purchase Details
Listed on
Jun 7, 2012
Closed on
Jul 15, 2015
Sold by
Chicago Title Land Trust Company
Bought by
A Place Of Our Own Llc
Seller's Agent
Debbie Scheitlin
Top Tier Asset Management
Buyer's Agent
Marie Krajecki
Century 21 New Heritage - Hampshire
List Price
$700,000
Sold Price
$498,000
Premium/Discount to List
-$202,000
-28.86%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.05%
Original Mortgage
$198,086
Interest Rate
4.09%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 29, 2003
Sold by
Schmidt Allen E
Bought by
Lasalle Bank Na and Trust #131541
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$531,250
Interest Rate
6.2%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 24, 1997
Sold by
Bank One Chicago Na
Bought by
Schmidt Allen E
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
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 224 Jefferson Ave Llc | $1,092,000 | Atg | |
| 224 Jefferson Llc | $1,000,000 | Chicago Title Insurance Co | |
| Subcity Villas Llc | $586,500 | First American Title | |
| A Place Of Our Own Llc | $498,000 | Chicago Title Land Trust Co | |
| Lasalle Bank Na | $625,000 | Nlt Title Llc | |
| Schmidt Allen E | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | 224 Jefferson Ave Llc | $940,000 | |
| Previous Owner | 224 Jefferson Llc | $780,000 | |
| Previous Owner | Subcity Villas Llc | $997,050 | |
| Previous Owner | A Place Of Our Own Llc | $198,086 | |
| Previous Owner | A Place Of Our Own Llc | $366,886 | |
| Previous Owner | A Place Of Our Own Llc | $400,086 | |
| Previous Owner | Chicago Title Land Trust Company | $670,000 | |
| Previous Owner | Lasalle Bank Na | $531,250 | |
| Previous Owner | Schmidt Allen E | $300,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/31/2021 12/31/21 | Sold | $1,175,000 | -11.0% | $112 / Sq Ft |
| 10/30/2021 10/30/21 | Pending | -- | -- | -- |
| 07/21/2021 07/21/21 | For Sale | $1,320,000 | +32.0% | $126 / Sq Ft |
| 12/22/2020 12/22/20 | Sold | $1,000,000 | -9.1% | -- |
| 10/14/2020 10/14/20 | Pending | -- | -- | -- |
| 10/09/2020 10/09/20 | For Sale | $1,100,000 | +120.9% | -- |
| 08/13/2015 08/13/15 | Sold | $498,000 | -28.9% | -- |
| 04/13/2015 04/13/15 | Pending | -- | -- | -- |
| 06/07/2012 06/07/12 | For Sale | $700,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $27,944 | $349,175 | $55,544 | $293,631 |
| 2023 | $26,891 | $315,453 | $50,180 | $265,273 |
| 2022 | $19,726 | $227,493 | $45,755 | $181,738 |
| 2021 | $18,976 | $212,690 | $42,778 | $169,912 |
| 2020 | $18,518 | $203,045 | $40,838 | $162,207 |
| 2019 | $18,064 | $193,413 | $38,901 | $154,512 |
| 2018 | $18,014 | $182,207 | $36,647 | $145,560 |
| 2017 | $18,649 | $181,316 | $36,468 | $144,848 |
| 2016 | $17,940 | $168,212 | $33,832 | $134,380 |
| 2015 | -- | $154,181 | $31,010 | $123,171 |
| 2014 | -- | $152,277 | $30,627 | $121,650 |
| 2013 | -- | $156,294 | $31,435 | $124,859 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2021
Jake Fugman
eXp Realty
(630) 379-7464
1 in this area
226 Total Sales
-
Seller's Agent in 2020
Matt Lysien
Suburban Life Realty, Ltd
(847) 309-6939
5 in this area
517 Total Sales
-
D
Seller's Agent in 2015
Debbie Scheitlin
Top Tier Asset Management
(847) 652-5610
1 in this area
10 Total Sales
-
A
Seller Co-Listing Agent in 2015
Allen Zak
Coldwell Banker The Real Estate Group
-
Buyer's Agent in 2015
Marie Krajecki
Century 21 New Heritage - Hampshire
(630) 439-4800
3 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11163933
APN: 06-12-304-029
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