NOT LISTED FOR SALE

2441 Indiana Ave Lansing, IL 60438

7 Beds
5 Baths
3,744 Sq Ft
1888 Built

Last Sold February 11, 2022

Last sale price $393,000 $105 Per Sq Ft

64 Days on Market

About This Home

As of February 2022

Long time owners looking to retire. 1st time this property has ever been offered for sale. This building is a money maker and looking for a new investor to continue its solid rental income history. The building holds 5 units that are well maintained and rented. There is an additional 5 garage spaces that are rented out to maximize your rental income. This property brings in $68,400 in rents a year. Many updates throughout the building over the years like roof in 2009, most of the windows have been replaced, fresh paint, good appliances, updated cabinets, lighting, bathrooms. This building is located in a quiet residential neighborhood. Cap Rate is sitting over 11%. This place is a property owner's dream. This can be bundle with MLS# 1123829: 2452 Indiana Ave. It is across the street and has the same owners.

Last Agent to Sell the Property

Kevin Westerhoff

Real People Realty License #475168288 Listed on: 10/18/2021

Real People Realty

Last Buyer's Agent

Kevin Westerhoff

Real People Realty License #475168288 Listed on: 10/18/2021

Real People Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,213

Year Built

  • Built in 1888

Lot Details

  • Lot Dimensions are 95x140

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Cluster Home
  • Block Foundation
  • Wood Frame Construction
  • Pitched Roof
  • Fiberglass Roof
  • Vinyl Siding

Interior Spaces

  • 3,744 Sq Ft Home
  • 2-Story Property
  • Partially Finished Basement

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 5 Bathrooms

Utilities

  • Central Heating
  • Radiator
  • Separate Meters

Listing and Financial Details

  • Tenant pays for varies by tenant

Community Details

Overview

  • 5 Units

Building Details

  • Fuel Expense $2,786
  • Insurance Expense $1,902
  • Maintenance Expense $609
  • Other Expense $890
  • Operating Expense $23,394
  • Gross Income $68,400
  • Net Operating Income $45,006

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,213

Year Built

Built in 1888

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Cluster
  • Stories: 2
  • Year Built: 1888
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 5
  • Total Bedrooms: 7
  • Possible Use: Multi-Family
  • Basement Description: Partially Finished
  • Fire Protection: Fire Extinguisher/s,Smoke or Fire Protectors,Carbon Monoxide Detector(s)
  • Fireplaces: 0
  • Drive-In Doors: 0
  • Dishwashers: 0
  • Refrigerators: 5
  • Ranges: 5
  • Number of Washers: 0
  • Room: 1
  • Room: 1
  • Room: 0

Exterior Features

  • Construction Materials: Wood Frame
  • Foundation Details: Block
  • Frontage Type: City Street
  • List Price: 393000
  • Roof: Fiberglass
  • Exterior Building Type: Vinyl Siding
  • Roof Structure: Pitched
  • Misc Outside: Storms and Screens (as exist)

Garage/Parking

  • Outdoor Parking: 6-12 Spaces
  • Indoor Parking: 1-5 Spaces

Utilities

  • Electric: Circuit Breakers, Separate Meters
  • Utilities: Sewer-Storm Available, Water-Municipal
  • Heat/Ventilation: Central Bldg Heat,Radiators
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Unincorporated (Y/N): No
  • Conversion YN: N
  • Owners Association (Y/N): No

Fee Information

  • Janitor Expense: 245
  • Operating Expense Includes: Fuel,Insurance,Licenses,Maintenance,Maintenance Grounds,Maintenance Structure,Parking,Pest Control,Supplies,Trash,Utilities,Water/Sewer,Electricity,Gas,Heat/Cooling,Real Estate Tax

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 95X140
  • Zoning: MULTI
  • Land Amenities: Curbs and Gutters,Lighting/Exterior,Sidewalks

Rental Info

  • Tenant Pays: Varies by Tenant
  • Board Number: 10
  • Tenancy Type: Leases

Building Info

  • BuildingAreaTotal: 3744
  • Building Unit Info: Smoke/Alarm Detector,Some Units Furnished

Multi Family

  • Net Operating Income: 45006
  • Fuel Expense: 2786
  • Insurance Expense: 1902
  • GrossIncome: 68400
  • Maintenance Expense: 609
  • NumberOfUnitsTotal: 5
  • OperatingExpense: 23394
  • Expense Year: 2020
  • Type Multi-Family: Cluster

Tax Info

  • Tax Annual Amount: 13213
  • Tax Year: 2020

Range of Values:

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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 Change Sq Ft Price
02/11/2022 02/11/22 Sold $393,000 0.0% $105 / Sq Ft
12/22/2021 12/22/21 Pending -- -- --
10/18/2021 10/18/21 For Sale $393,000 -- $105 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11249598

Midwest Real Estate Data (MRED)