$1,200,000
SOLD NOV 21, 2016
1 Bed
1 Bath
35,846 Sq Ft
2.12 Acres

Recently Sold

$33 Per Sq Ft

About This Home

As of July 2021

These two buildings immediately adjoin each other and are in an excellent location near Trinity Medical Center. Each building features on-site parking; 28-Unit also have carports and 11-Unit has nine attached garages. Each building has spacious units and on-site laundry facilities. Great unit mix of efficiencies, 1- and 2-bedrooms. Long term tenants. Newer windows throughout both buildings. Tenants pay electric and cooling. Established landscaping with front courtyard. Exterior security lighting.

Last Agent to Sell the Property

Richard Ryan

RE/MAX Best Commercial License #B13530000 Listed on: 05/10/2016

RE/MAX Best Commercial

Co-Listed By

David Ryan

RE/MAX Best Commercial License #B42926000/475.122478

RE/MAX Best Commercial

Last Buyer's Agent

David Ryan

RE/MAX Best Commercial License #B42926000/475.122478

RE/MAX Best Commercial

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $42,170

Year Built

  • Built in 1964

Basement

  • Basement Fills Entire Space Under The House
  • Partial Basement

Schools

  • Rock Island High School

Listing and Financial Details

  • Tenant pays for electric only

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$42,170

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Residential Income
  • Style: Apartment Building
  • Legal Description: Lot 1 and Lot 2 The Tower Subdivision
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full, Partial
  • Price Per Sq Ft: 33.48
  • Total Sq Ft: 35846

Exterior Features

  • Exterior: Brick, Stucco
  • Road Access: Curbs & Gutters

Utilities

  • Heating Cooling: Gas, Hot Water
  • Electric Expense: 29472
  • Garbage Collection Exp: 7095
  • Laundry Facilities: Common
  • Water Sewer Expenses: 12816

Schools

  • High School: Rock Island
  • High School: Rock Island

Lot Info

  • Estimated Lot Size: 87930
  • Estimated Number of Acres: 2.12
  • Lot Description: Level
  • Subdivision: The Tower
  • Geo Subdivision: IL

Rental Info

  • Manager On Site: Yes
  • Tenant Pays: Electric Only
  • Gross Annual Rent Income: 257518
  • Management Expense: 10600

Tax Info

  • Annual Taxes: 42170
  • Parcel Id Number Tax Id: 10-4606 & 10-4605
  • Tax Year: 2015

Multi Family

  • Total Number Units: 39
  • Gross Annual Income: 261838
  • Total Number Electric Meters: 41
  • Total Number Gas Meters: 3
  • Total Number Heating Units: 3
  • Total Number Water Heaters: 6
  • Total Number Water Meters: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 9, 2025
Sold by
24Th Street Capital Llc
Bought by
Fw2 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,280,000
Outstanding Balance
$1,215,598
Interest Rate
6.89%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jun 26, 2024
Sold by
Vanderkooi Michael and Vanderkooi Nanette Joy
Bought by
24Th Street Capital Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,120,000
Interest Rate
7.02%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 5, 2021
Closed on
Jul 20, 2021
Sold by
Willow Llc
Bought by
Vanderkooi Michael and Vanderkooi Nanette Joy
Seller's Agent
Gary Simatovich
RE/MAX Best Commercial
Buyer's Agent
Todd Ryckeghem
Milltown Realty, LLC
List Price
$1,520,000
Sold Price
$1,420,000
Premium/Discount to List
-$100,000
-6.58%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$875,000
Interest Rate
2.93%
Mortgage Type
New Conventional
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 Type Sale Price Title Company
Special Warranty Deed $1,600,000 None Listed On Document
Warranty Deed $1,400,000 Gomez Title
Warranty Deed $1,420,000 Brooks Law Firm Pc
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,280,000 Credit Line Revolving
Previous Owner $1,120,000 New Conventional
Previous Owner $875,000 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/27/2021 07/27/21 Sold $1,420,000 -6.6% $40 / Sq Ft View Prior Sale
07/02/2021 07/02/21 Pending -- -- --
06/05/2021 06/05/21 For Sale $1,520,000 +26.7% $42 / Sq Ft
11/21/2016 11/21/16 Sold $1,200,000 0.0% $33 / Sq Ft View Prior Sale
11/21/2016 11/21/16 Sold $1,200,000 0.0% $33 / Sq Ft
09/15/2016 09/15/16 Pending -- -- --
09/15/2016 09/15/16 Pending -- -- --
05/10/2016 05/10/16 For Sale $1,200,000 -22.6% $33 / Sq Ft
09/17/2015 09/17/15 For Sale $1,550,000 -- $43 / 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 $36,913 $366,791 $58,249 $308,542
2023 $36,913 $335,582 $53,293 $282,289
2022 $34,210 $340,771 $54,117 $286,654
2021 $34,159 $323,619 $51,393 $272,226
2020 $33,446 $314,804 $49,993 $264,811
2019 $33,086 $311,687 $49,498 $262,189
2018 $31,591 $303,493 $48,197 $255,296
2017 $30,716 $293,405 $46,595 $246,810
2016 $29,797 $293,405 $46,595 $246,810
2015 $29,766 $293,405 $46,595 $246,810
2014 $7,184 $295,622 $46,947 $248,675
2013 $7,184 $295,622 $46,947 $248,675
Source: Public Records

Agents Affiliated with this Home

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Map

Source: RMLS Alliance

MLS Number: RMAQC4171945

RMLS Alliance

APN: 16-11-220-001