NOT LISTED FOR SALE

401 S Butler St Lincoln, IL 62656

Estimated Value: $220,000 - $304,000

8 Beds
-- Bath
3,942 Sq Ft
$69/Sq Ft Est. Value

Last Sold April 29, 2025

Last sale price $290,000 $74 Per Sq Ft

Est. 6% decrease in value since last sale

Current estimated payment $2,106/month

243 Days on Market

Highlights

  • Corner Lot
  • 2 Car Detached Garage
  • Forced Air Heating and Cooling System

About This Home

As of April 2025

Two side by side custom constructed duplexes on an 80X150 corner lot just steps from downtown, Lincoln Community High School, and the Lincoln Park District! Each unit boasts two bedrooms and 1.5 baths. Two tenants currently pay $700.00/month -- one tenant currently pays $800.00/month -- fourth tenant currently pays $850.00/month. Butler units have a two car detached garage -- Decatur units have an off-street parking slab. Various recent exterior updates including siding and quality windows. Great investment opportunity!

Last Agent to Sell the Property

Seth Goodman

ME Realty License #475126097 Listed on: 06/12/2024

Last Buyer's Agent

CHARLES BARNES

The Real Estate Group, Inc. License #475174037

The Real Estate Group, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,053

Year Built

  • Built in 1977

Lot Details

  • Lot Dimensions are 80x150
  • Corner Lot
  • Level Lot

Home Design

  • 3,942 Sq Ft Home
  • Slab Foundation
  • Shingle Roof
  • Vinyl Siding

Parking

  • 2 Car Detached Garage
  • Parking Pad

Schools

  • Lincoln High School

Additional Features

  • 8 Bedrooms
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for water
  • Assessor Parcel Number 08-255-296-00

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,053

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Property Sub Type: Residential Income
  • Year Built: 1977
  • New Construction: No
  • Structure Type: Two or More Story
  • PricePerSqFt: 73.57
  • Special Features: None

Interior Features

  • Basement: None
  • Total Bedrooms: 8

Exterior Features

  • Lot Features: Corner Lot, Level
  • Construction Type: Brick, Vinyl Siding
  • Foundation Details: Slab
  • Roof: Shingle
  • 100YearPlain: No

Garage/Parking

  • Parking Features: Detached, Parking Pad
  • Total Parking Spaces: 2

Utilities

  • Cooling: Central Air
  • Heating: Forced Air, Natural Gas
  • Laundry Features: Units Hook-Ups
  • Water Source: Public Sewer, Public
  • GasExpense: 0
  • NumberOfWaterHeaters: 4
  • NumberOfHeatingUnits: 4
  • NumberOfCentralAirUnits: 4
  • NumberOfGasMeters: 4
  • NumberOfElectricMeters: 4
  • NumberofWaterMeters: 4
  • NumberOfRanges: 4
  • NumberofRefrigerators: 4

Condo/Co-op/Association

  • Senior Community: No

Fee Information

  • AdvertisingExpense: 0

Schools

  • High School: Lincoln

Lot Info

  • Lot Size: 80X150
  • Parcel #: 08-255-296-00

Rental Info

  • Tenant Pays: Water

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 7052.92
  • TaxExemptions: None

Multi Family

  • Number Of Units Total: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 12, 2024
Closed on
Apr 29, 2025
Sold by
L & L Real Estate Llc
Bought by
Atkinson Mikesha
Seller's Agent
Seth Goodman
ME Realty
Buyer's Agent
CHARLES BARNES
The Real Estate Group, Inc.
List Price
$340,000
Sold Price
$290,000
Premium/Discount to List
-$50,000
-14.71%
Views
91
Current Estimated Value
$273,594

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$16,406
Avg. Annual Appreciation
-18.19%
Original Mortgage
$275,500
Outstanding Balance
$274,819
Interest Rate
7%
Mortgage Type
New Conventional
Estimated Equity
-$1,225

Purchase Details

Closed on
Jan 6, 2023
Sold by
Thornton Gerald A
Bought by
L & L Real Estate Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,000
Interest Rate
7.5%
Mortgage Type
Commercial
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
Atkinson Mikesha $290,000 None Available
L & L Real Estate Llc $180,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Atkinson Mikesha $275,500
Previous Owner L & L Real Estate Llc $144,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/29/2025 04/29/25 Sold $290,000 -3.0% $74 / Sq Ft
02/10/2025 02/10/25 Pending -- -- --
01/31/2025 01/31/25 Price Changed $299,000 -9.1% $76 / Sq Ft
08/15/2024 08/15/24 Price Changed $329,000 -3.2% $83 / Sq Ft
06/12/2024 06/12/24 For Sale $340,000 -- $86 / 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 $7,384 $80,550 $9,300 $71,250
2023 $7,053 $74,580 $8,610 $65,970
2022 $6,878 $69,700 $8,050 $61,650
2021 $6,626 $66,920 $7,730 $59,190
2020 $6,542 $65,940 $7,620 $58,320
2019 $6,404 $64,650 $7,470 $57,180
2018 $6,354 $63,380 $7,320 $56,060
2017 $6,317 $63,380 $7,320 $56,060
2016 $6,153 $63,310 $7,310 $56,000
2015 $5,725 $58,550 $7,460 $51,090
2014 $5,725 $58,550 $7,460 $51,090
2013 $5,725 $55,580 $7,080 $48,500
2012 $5,725 $56,580 $7,210 $49,370
Source: Public Records

Agents Affiliated with this Home

  • Seth Goodman

    Seller's Agent in 2025

    Seth Goodman

    ME Realty

    (217) 737-3742

    1,901 Total Sales

    Seth Goodman
    Section Image
  • CHARLES BARNES

    Buyer's Agent in 2025

    CHARLES BARNES

    The Real Estate Group, Inc.

    (217) 638-3844

    3 Total Sales

    CHARLES BARNES
    Section Image
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Map

Source: RMLS Alliance

MLS Number: CA1029808

RMLS Alliance

APN: 08-255-296-00

Illinois Logan County Lincoln 62656

401 S Butler St, Lincoln, IL

This home is located at 401 S Butler St, Lincoln, IL 62656 since 12 June 2024 and is currently estimated at $273,594, approximately $69 per square foot. This property was built in 1977. 401 S Butler St is a home located in Logan County with nearby schools including Washington-Monroe Elementary School, Lincoln Junior High School, and Lincoln Community High School.

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.

RMLS Alliance IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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