NOT LISTED FOR SALE

225 N Park Ave Springfield, IL 62702

Historic West Side Neighborhood

Estimated Value: $573,300

Studio
-- Bath
9,255 Sq Ft
$62/Sq Ft Est. Value

Last Sold February 15, 2024

Last sale price $585,000 $63 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $3,485/month

4 Days on Market

Highlights

  • Forced Air Heating System
  • Springfield High School Rated A-
  • Level Lot

About This Home

As of February 2024

ATTENTION INVESTORS - 10 FULLY RENTED UNITS! Opportunity awaits to own two neighboring buildings with a total of ten 2 bedroom, 1 bathroom apartments. Enjoy a central location in the heart of Springfield close to shopping, restaurants, schools, churches, Washington Park, Westside & downtown amenities. Building #225 consists of four updated units, a shared laundry area and features a newer concrete drive & a brand new roof in 2023. Building #229 offers six additional apartments. All units have central AC and rear parking. Owner pays for water and trash service. Total rent equals $7,375mo. and could be increased by the new owner at the start of a new lease. Shared laundry facility brings in a bonus income of $300-400/mo. Showings are available to pre-approved buyers only, 9am-5pm Mon-Fri with 24 hour notice. Schedule your showing today!

Last Agent to Sell the Property

Crystal Germeraad

RE/MAX Professionals Brokerage Phone: 217-685-9575 License #475161193 Listed on: 01/11/2024

RE/MAX Professionals

Last Buyer's Agent

Barbara Endzelis

RE/MAX Professionals License #475136201

RE/MAX Professionals

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,271

Year Built

  • Built in 1965

Lot Details

  • Lot Dimensions are 177.6 x 110
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Concrete Foundation
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 9,255 Sq Ft Home
  • Partial Basement

Parking

  • 10 Parking Spaces
  • On-Street Parking
  • Assigned Parking

Schools

  • Dubois Elementary School
  • Grant/Lincoln Middle School
  • Springfield High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 14-29.0-479-027

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,271

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Property Sub Type: Residential Income
  • Year Built: 1965
  • New Construction: No
  • Structure Type: Two or More Story
  • Age55PlusDevelopment: No
  • Attribution Contact: Pref: 217-685-9575
  • Special Features: None

Interior Features

  • Basement: Partial
  • Interior Amenities: Cable Available

Exterior Features

  • Lot Features: Level
  • Road Surface Type: Paved
  • Construction Type: Brick, Vinyl Siding
  • Foundation Details: Concrete
  • Roof: Shingle
  • 100YearPlain: No

Garage/Parking

  • Parking Features: Assigned, On Street
  • Total Parking Spaces: 10

Utilities

  • Heating: Forced Air, Gas, Central Air
  • Laundry Features: Common Area
  • Water Source: Public Sewer, Public
  • GasExpense: 0
  • NumberOfRanges: 10
  • NumberofRefrigerators: 10
  • NumberOfWashers: 1
  • NumberOfDryers: 1

Fee Information

  • AdvertisingExpense: 0

Schools

  • Elementary School: Dubois
  • High School: Springfield
  • Middle Or Junior School: Grant/Lincoln

Lot Info

  • Lot Size: 177.6 x 110
  • Additional Parcels Description: 14-29.0-479-026
  • Parcel #: 14-29.0-479-027

Rental Info

  • Lease Term: Variable

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 9271
  • TaxExemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 7, 2020
Sold by
Terrence Lawson
Bought by
Tdl Properties One Llc
Current Estimated Value
$573,300

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$330,000
Interest Rate
4.75%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 10, 2019
Sold by
225 & 229 Park Ave Llc
Bought by
Lawson Terrence

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$330,000
Interest Rate
4.75%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 12, 2015

Purchase Details

Closed on
Apr 16, 2009

Purchase Details

Closed on
Oct 27, 1995
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Tdl Properties One Llc -- Tdl Properties One Llc
Lawson Terrence $300,000 Prairie Land Title
-- $270,000 --
-- $215,000 --
-- $95,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Lawson Terrence $330,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/15/2024 02/15/24 Sold $585,000 0.0% $63 / Sq Ft
01/15/2024 01/15/24 Pending -- -- --
01/11/2024 01/11/24 For Sale $585,000 +116.7% $63 / Sq Ft
01/19/2016 01/19/16 Sold $270,000 -15.6% $35 / Sq Ft View Prior Sale
01/18/2016 01/18/16 Pending -- -- --
08/25/2015 08/25/15 For Sale $320,000 -- $41 / Sq Ft
Source: RMLS Alliance

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 $5,841 $69,537 $5,808 $63,729
2023 $4,178 $47,251 $5,305 $41,946
2022 $4,016 $44,821 $5,032 $39,789
2021 $3,883 $43,143 $4,844 $38,299
2020 $3,806 $43,208 $4,851 $38,357
2019 $2,973 $34,268 $4,835 $29,433
2018 $3,206 $37,945 $4,811 $33,134
2017 $3,140 $37,455 $4,749 $32,706
2016 $3,078 $36,909 $4,680 $32,229
2015 $2,521 $30,165 $4,625 $25,540
2014 $2,484 $29,970 $4,595 $25,375
2013 $2,428 $29,970 $4,595 $25,375
Source: Public Records

Agents Affiliated with this Home

  • Crystal Germeraad

    Seller's Agent in 2024

    Crystal Germeraad

    RE/MAX Professionals

    (217) 685-9575

    19 in this area

    292 Total Sales

    Crystal Germeraad
    Section Image
  • Barbara Endzelis

    Buyer's Agent in 2024

    Barbara Endzelis

    RE/MAX Professionals

    (217) 971-7215

    3 in this area

    234 Total Sales

    Barbara Endzelis
    Section Image

  • K

    Seller's Agent in 2016

    Kevin Graham

    Century 21 Real Estate Assoc

    (217) 789-7200

    2 in this area

    51 Total Sales

    Kevin Graham
    Section Image
  • Krystal K Buscher

    Buyer's Agent in 2016

    Krystal K Buscher

    The Real Estate Group, Inc.

    (217) 553-9280

    8 in this area

    313 Total Sales

    Krystal K Buscher
    Section Image
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Map

Source: RMLS Alliance

MLS Number: CA1026795

RMLS Alliance

APN: 14-29.0-479-027

Illinois Sangamon County Springfield 62702 Historic West Side

225 N Park Ave, Springfield, IL

Not Listed for Sale

MultiFamily

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