NOT LISTED FOR SALE

409 Inland Dr Wheeling, IL 60090

Estimated Value: $189,000 - $1,046,000

9 Beds
6 Baths
-- Sq Ft
2,570 Sq Ft Lot

Last Sold July 30, 2021

Last sale price $652,000

Est. 34% decrease in value since last sale

Current estimated payment $2,592/month

15 Days on Market

About This Home

As of July 2021

Solid investment opportunity in a great area and in excellent condition. Six flat brick building - three spacious two bedroom apartment and three spacious one bedroom apartment. Rehabbed in 2018 - new roof and windows, new doors including new balcony doors, new kitchen cabinets, counter-tops and new abt electric appliances, high quality engineered hardwood floors in each apartment, new carpet on the hallways, new paint, and much much more,.. Additional income from coin laundry located on the lower level Individual electric heating system for each unit - tenants pay electric, building is fully occupied by long term tenants. Association includes snow removal, lawn care, parking lots maintenance, and trash service. Separate tax pin number and tax bill for each apartment that can be easily converted back to one property tax pin number. Property taxes can be easily appealed. Don't miss your opportunity to build solid rental income.

Last Agent to Sell the Property

Lucyna Duda

arhome realty License #475116056 Listed on: 04/08/2021

arhome realty

Last Buyer's Agent

Nancy Zhao

Great States Realty LLC License #471000948

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,268

Year Built

  • Built in 1981

Lot Details

  • Lot Dimensions are 45x65
  • Additional Parcels

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 3-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Utilities

  • Window Unit Cooling System
  • Heating Available
  • Separate Meters

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $480
  • Fuel Expense $840
  • Insurance Expense $2,400
  • Other Expense $480
  • Water Sewer Expense $4,800
  • Operating Expense $36,068
  • Gross Income $78,000
  • Net Operating Income $46,672

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,268

Year Built

Built in 1981

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1981
  • Built Before 1978 (Y/N): No
  • Information: List Broker Must Accompany,No Sign on Property
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 9
  • Room: 0

Exterior Features

  • Exterior Building Type: Brick

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Window Unit(s)
  • Electric: Separate Meters
  • Heat/Ventilation: Electric

Fee Information

  • Water Sewer Expenses: 4800

Lot Info

  • Additional Parcels: Yes
  • Lot Dimensions: 45X65
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 10

Multi Family

  • Net Operating Income: 46672
  • Fuel Expense: 840
  • Insurance Expense: 2400
  • ElectricExpense: 480
  • GrossIncome: 78000
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 36068
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 22268
  • Tax Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 8, 2021
Closed on
Jun 18, 2021
Sold by
Jm Capital Investment Llc
Bought by
Manhan Associates Llc
Seller's Agent
Lucyna Duda
arhome realty
Buyer's Agent
Nancy Zhao
Great States Realty LLC
Sold Price
$652,000
Current Estimated Value
$428,571

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$223,429
Avg. Annual Appreciation
-9.65%
Original Mortgage
$458,000
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Listed on
May 5, 2016
Closed on
Sep 6, 2016
Sold by
Krugman Michael
Bought by
Jm Capital Investment Llc
Seller's Agent
Ryan Gehris
USRealty.com, LLP
Buyer's Agent
Joe Sewielski
Pomax Realty Inc
List Price
$484,900
Sold Price
$475,000
Premium/Discount to List
-$9,900
-2.04%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.68%
Original Mortgage
$760,000
Interest Rate
3.43%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 12, 2004
Sold by
Lasalle Bank Na
Bought by
Krugman Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$384,000
Interest Rate
4%
Mortgage Type
Unknown
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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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
Manhan Associates Llc $652,000 Altima Title Llc
Jm Capital Investment Llc $475,000 Cambridge Title Company
Krugman Michael $960,000 Chicago Title Insurance Comp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Manhan Associates Llc $458,000
Previous Owner Jm Capital Investment Llc $760,000
Previous Owner Krugman Michael $384,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/30/2021 07/30/21 Sold $652,000 -6.5% --
04/23/2021 04/23/21 Pending -- -- --
04/23/2021 04/23/21 For Sale -- -- --
04/08/2021 04/08/21 For Sale $697,000 +46.7% --
09/06/2016 09/06/16 Sold $475,000 -2.0% $100 / Sq Ft View Prior Sale
06/12/2016 06/12/16 Pending -- -- --
05/05/2016 05/05/16 For Sale $484,900 -- $102 / Sq Ft
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
2025 $4,403 $20,523 $459 $20,064
2024 $4,403 $13,139 $370 $12,769
2023 $4,199 $13,139 $370 $12,769
2022 $4,199 $13,139 $370 $12,769
2021 $4,471 $12,067 $293 $11,774
2020 $4,355 $12,067 $293 $11,774
2019 $4,439 $13,548 $293 $13,255
2018 $2,522 $6,912 $255 $6,657
2017 $2,393 $6,912 $255 $6,657
2016 $2,306 $6,912 $255 $6,657
2015 $2,290 $6,428 $216 $6,212
2014 $2,234 $6,428 $216 $6,212
2013 $2,063 $6,428 $216 $6,212
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11047215

Midwest Real Estate Data (MRED)

APN: 03-12-300-075-1004