NOT LISTED FOR SALE

2907 185th St Lansing, IL 60438

16 Beds
16 Baths
11,200 Sq Ft
0.38 Acres

Last Sold December 08, 2021

Last sale price $940,000 $84 Per Sq Ft

71 Days on Market

About This Home

As of December 2021

Well-maintained, 16-unit apartment building located at 2907 185th Street in Lansing, Illinois. Property consists of all one-bedroom / one-bathroom units. The building is flexicore construction and features a newer roof and newer boiler. The property also features storage spaces for tenant use, an on-site laundry facility, and ample off-street parking. Convenient access to Route 83, Interstate 94, and PACE bus stops.

Last Agent to Sell the Property

Emily Habich

Marcus & Millichap Chicago Apartment Brokers License #475186663 Listed on: 07/06/2021

Last Buyer's Agent

Emily Habich

Marcus & Millichap Chicago Apartment Brokers License #475186663 Listed on: 07/06/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $33,816

Year Built

  • Built in 1963

Lot Details

  • 0.38 Acre Lot

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Pitched Roof
  • Composition Roof

Interior Spaces

  • 11,200 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 16 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Hot Water Heating System
  • 100 Amp Service

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 16 Units

Building Details

  • Electric Expense $936
  • Fuel Expense $5,053
  • Insurance Expense $4,000
  • Maintenance Expense $2,975
  • Manager Expense $5,000
  • Other Expense $5,650
  • Trash Expense $1,104
  • Water Sewer Expense $3,321
  • Operating Expense $61,855
  • Gross Income $158,028
  • Net Operating Income $94,169

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$33,816

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 2
  • Year Built: 1963
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required,Other-See Remarks
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 16
  • Total Bedrooms: 16
  • Possible Use: Multi-Family
  • Fire Protection: Other
  • Refrigerators: 16
  • Ranges: 16
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Other
  • List Price: 980000
  • Roof: Composition
  • Exterior Building Type: Brick
  • Roof Structure: Pitched

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Wall Sleeve
  • Electric: Service - 0 to 100 Amps
  • Heat/Ventilation: Hot Water,Baseboard

Condo/Co-op/Association

  • Manager Expense: 5000
  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1104
  • Water Sewer Expenses: 3321
  • Janitor Expense: 0
  • Operating Expense Includes: Legal,Licenses,Other

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.38
  • Lot Dimensions: 16,320 SF
  • Lot Size Sq Ft: 16320
  • Zoning: MULTI
  • Alternate Phone Number: (630) 570-2235

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 11200

Multi Family

  • Net Operating Income: 94169
  • Fuel Expense: 5053
  • Insurance Expense: 4000
  • ElectricExpense: 936
  • GrossIncome: 158028
  • Maintenance Expense: 2975
  • NumberOfUnitsTotal: 16
  • OperatingExpense: 61855
  • Expense Year: 2020
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 33816
  • 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 List to Sale Price per Sq Ft
12/08/2021 12/08/21 Sold $940,000 -6.0% $84 / Sq Ft
09/16/2021 09/16/21 Pending -- -- --
07/06/2021 07/06/21 For Sale $1,000,000 -- $89 / 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: 11145337

Midwest Real Estate Data (MRED)