NOT LISTED FOR SALE

302 S John St Thomasboro, IL 61878

Estimated Value: $242,000 - $367,000

8 Beds
4 Baths
4,076 Sq Ft
$75/Sq Ft Est. Value

Last Sold May 24, 2022

Last sale price $267,500 $66 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $1,970/month

37 Days on Market

About This Home

As of May 2022

I'm presenting an opportunity to buy a multi-family facility in a quaint little farming community called Thomasboro, which is just 11 miles north of Champaign, IL. Each building is a 4-plex for a total of 8 units (Please see the separate listing for 300 S. John as well). The exterior of both buildings appear to be in solid shape at a cursory glance. The flooring of most of the units have been replaced as units have turned over. Unit #3 has lived there prior to the owner purchasing it so there have been no upgrades to that unit. Each unit is 1,000 square feet and offers two bedrooms, one bathroom, kitchen & living room. Each unit also offers washer/dryer hookups. Many of the water heaters are newer. Several refrigerators and AC units have also been replaced since the owners purchased the portfolio. Stoves & refrigerators convey with the property. Washer/Dryer's are owned by the tenants. Tenants pay their own water, garbage, electric/gas, cable, internet, etc. RENT HAS NOT BEEN RAISED IN 8 YEARS!!! Here is an opportunity to immediately capture some value-add.

Last Agent to Sell the Property

Jon Fisher

MR. LANDMAN License #471020503 Listed on: 01/21/2022

Last Buyer's Agent

Brandon Moore

RE/MAX REALTY ASSOCIATES-CHA License #475119265

RE/MAX REALTY ASSOCIATES-CHA

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,308

Year Built

  • Built in 1968

Lot Details

  • 0.41 Acre Lot
  • Lot Dimensions are 119 x 150

Home Design

  • Ranch Style House
  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 4 Bathrooms

Parking

  • 4 Parking Spaces
  • Uncovered Parking
  • Off-Street Parking
  • Parking Space is Owned
  • Assigned Parking

Schools

  • Thomasboro Elementary School
  • Thomasboro Junior High School
  • Rantoul City District High School

Additional Features

  • Crawl Space
  • Baseboard Heating

Community Details

  • 4 Units
  • Gross Income $26,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,308

Year Built

Built in 1968

Lot Details

0.41 Acres

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Ranch
  • New Construction: No
  • Year Built: 1968
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Legal Description: LOTS 35, 36 JACOBSEN 2ND ADD
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 8
  • Basement Description: Crawl
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • AppliancesAndFeatures: Stove,Refrigerator

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking Features: Assigned, Off Street
  • ParkingTotal: 4
  • Number of Cars: 4
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Baseboard
  • Water Source: Public

Schools

  • Elementary School: Thomasboro Elementary School
  • High School: Rantoul City District
  • Middle/Junior School: Thomasboro Junior High School

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.41
  • Lot Dimensions: 119 X 150
  • Zoning: MULTI
  • Lot Size: .25-.49 Acre
  • Special Assessments: Y

Rental Info

  • Board Number: 22
  • TenantPays: All

Multi Family

  • GrossIncome: 26400
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 4307.5
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 21, 2022
Closed on
May 24, 2022
Sold by
Taylor Illinois Properties Llc
Bought by
Axis Rentals Llc
Seller's Agent
Jon Fisher
MR. LANDMAN
Buyer's Agent
Brandon Moore
RE/MAX REALTY ASSOCIATES-CHA
List Price
$262,500
Sold Price
$267,500
Premium/Discount to List
$5,000
1.9%
Current Estimated Value
$304,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$37,000
Avg. Annual Appreciation
3.49%
Original Mortgage
$400,000
Outstanding Balance
$375,775
Interest Rate
5%
Mortgage Type
New Conventional
Estimated Equity
-$71,275

Purchase Details

Closed on
Jan 14, 2011
Sold by
Warner Joseph H
Bought by
Taylor Illinois 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
$342,000
Interest Rate
5.75%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 29, 2005
Sold by
Barringer Larry A and Barringer Betsy D
Bought by
Warner Joseph H
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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Purchase History

Date Buyer Sale Price Title Company
Axis Rentals Llc $523,000 None Listed On Document
Taylor Illinois Properties Llc $372,000 None Available
Warner Joseph H $304,000 Allied Title Services
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Axis Rentals Llc $400,000
Previous Owner Taylor Illinois Properties Llc $342,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/24/2022 05/24/22 Sold $267,500 +1.9% $66 / Sq Ft
02/28/2022 02/28/22 Pending -- -- --
01/21/2022 01/21/22 For Sale $262,500 -- $64 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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 $4,869 $70,270 $11,010 $59,260
2023 $4,869 $62,680 $9,820 $52,860
2022 $4,565 $55,970 $8,770 $47,200
2021 $4,340 $52,260 $8,190 $44,070
2020 $4,308 $50,490 $7,910 $42,580
2019 $4,177 $48,500 $7,600 $40,900
Source: Public Records

Agents Affiliated with this Home

  • Jon Fisher

    Seller's Agent in 2022

    Jon Fisher

    MR. LANDMAN

    (217) 202-0924

    208 Total Sales

    Jon Fisher
    Section Image
  • Brandon Moore

    Buyer's Agent in 2022

    Brandon Moore

    RE/MAX

    (217) 841-7048

    94 Total Sales

    Brandon Moore
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11308700

Midwest Real Estate Data (MRED)

APN: 20-09-33-176-002

Illinois Champaign County Thomasboro 61878

302 S John St, Thomasboro, IL

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID

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