NOT LISTED FOR SALE

Estimated Value: $715,000 - $995,424

13 Beds
8 Baths
700 Sq Ft
$1,222/Sq Ft Est. Value

Last Sold March 15, 2023

Last sale price $795,000 $1,136 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $5,772/month

20 Days on Market

About This Home

As of March 2023

This home is located at 255 N Spring St, Elgin, IL 60120 since 10 January 2023 and is currently estimated at $855,212, approximately $1,221 per square foot. This property was built in 1914. 255 N Spring St is a home located in Kane County with nearby schools including Ronald D O'Neal Elementary School, Kimball Middle School, and Larkin High School.

Last Agent to Sell the Property

Nicole Verlotta

eXp Realty License #475162388 Listed on: 01/10/2023

eXp Realty

Co-Listed By

Jamie Machel

Baird & Warner License #475176774

Last Buyer's Agent

Ben Kastein

Advantage Realty Group License #471011239

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,757

Year Built

  • Built in 1914

Lot Details

  • Lot Dimensions are 132 x 82

Interior Spaces

  • 2-Story Property
  • Exterior Basement Entry

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 8 Bathrooms

Utilities

  • Radiator
  • Hot Water Heating System

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 7 Units

Building Details

  • Electric Expense $908
  • Insurance Expense $3,210
  • Other Expense $5,262
  • Trash Expense $2,163
  • Water Sewer Expense $3,403
  • Operating Expense $17,808
  • Gross Income $92,880
  • Net Operating Income $77,956

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,757

Year Built

Built in 1914

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 2
  • Year Built: 1914
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8
  • Total Bedrooms: 13
  • Room: 3
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 785000

Utilities

  • Heat/Ventilation: Hot Water,Radiators

Fee Information

  • Trash Expense: 2163
  • Water Sewer Expenses: 3403
  • Janitor Expense: 0
  • Operating Expense Includes: Gas

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 132 X 82

Rental Info

  • Tenant Pays: Electricity, Other
  • Board Number: 2

Multi Family

  • Net Operating Income: 77956
  • Insurance Expense: 3210
  • ElectricExpense: 908
  • GrossIncome: 92880
  • NumberOfUnitsTotal: 7
  • OperatingExpense: 17808
  • Expense Year: 2022
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 12757.2
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 10, 2023
Closed on
Mar 15, 2023
Sold by
Ri Properties Llc
Bought by
Crosswinds Realty Llc
Seller's Agent
Nicole Verlotta
eXp Realty
Buyer's Agent
Ben Kastein
Advantage Realty Group
List Price
$785,000
Sold Price
$795,000
Premium/Discount to List
$10,000
1.27%
Views
117
Current Estimated Value
$855,212

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$60,212
Avg. Annual Appreciation
2.90%
Original Mortgage
$610,000
Outstanding Balance
$416,616
Interest Rate
6.32%
Mortgage Type
New Conventional
Estimated Equity
$438,596

Purchase Details

Closed on
Nov 14, 2017
Sold by
Sun Tan Propeertiees Llc
Bought by
Rl Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$592,500
Interest Rate
4.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 29, 2014
Sold by
Alvarez Adalberto and Alvarez Martha
Bought by
Suntan Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$234,000
Interest Rate
4.99%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 31, 2003
Sold by
Anderson Rick A and Anderson Blanca N
Bought by
Alvarez Adalberto and Alvarez Martha

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$351,600
Interest Rate
5.62%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 15, 1999
Sold by
American National Bk&Tr Co Of Chicago
Bought by
Anderson Rick A and Anderson Blanca N

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$150,000
Interest Rate
8.43%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 19, 1999
Sold by
Ramirez Maria E
Bought by
American National Bk&Tr Co Of Chicago and Nbd Bank
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
Crosswinds Realty Llc $795,000 Old Republic Title
Rl Properties Llc $410,000 None Available
Suntan Properties Llc $292,500 Chicago Title Insurance Co
Alvarez Adalberto $439,000 --
Anderson Rick A $220,000 Chicago Title Insurance Co
American National Bk&Tr Co Of Chicago -- --
American National Bank & Trust Company -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Crosswinds Realty Llc $610,000
Previous Owner Rl Properties Llc $592,500
Previous Owner Suntan Properties Llc $234,000
Previous Owner Alvarez Adalberto $351,600
Previous Owner Anderson Rick A $150,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/15/2023 03/15/23 Sold $795,000 +1.3% $1,136 / Sq Ft
01/31/2023 01/31/23 Pending -- -- --
01/10/2023 01/10/23 For Sale $785,000 0.0% $1,121 / Sq Ft
03/09/2016 03/09/16 Under Contract -- -- --
03/09/2016 03/09/16 Rented $825 0.0% --
02/26/2016 02/26/16 For Rent $825 -- --
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 $14,858 $185,663 $23,138 $162,525
2023 $14,298 $167,732 $20,903 $146,829
2022 $13,262 $152,943 $19,060 $133,883
2021 $12,757 $142,991 $17,820 $125,171
2020 $12,450 $136,507 $17,012 $119,495
2019 $12,144 $130,031 $16,205 $113,826
2018 $12,111 $122,497 $15,266 $107,231
2017 $12,538 $121,899 $15,192 $106,707
2016 $12,061 $113,089 $14,094 $98,995
2015 -- $103,656 $12,918 $90,738
2014 -- $109,102 $12,759 $96,343
2013 -- $111,980 $13,096 $98,884
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11695819

Midwest Real Estate Data (MRED)

APN: 06-13-105-011