Seller's Agent in 2022
Matthew Mika
Compass
(773) 406-1792
2 in this area
255 Total Sales
421 N Hicks Rd Palatine, IL 60067
Downtown Palatine Neighborhood
8
Beds
8
Baths
--
Sq Ft
0.38
Acres
Highlights
- Laundry Room
- Storage Room
- Heating Available
- Winston Campus Elementary School Rated A-
About This Home
As of March 2022Wonderful Location 8 Unit Building in the Heart of Palatine. Across from Marianos and just blocks from Downtown Palatine - Metra Shopping and Dining. All easily rented One Bedroom Units. Building has been fairly well maintained built in wall AC units, Paved Large Parking Area and Extended Grass Area 2 parking spaces per unit. Laundry and Storage on First Floor. Fully rented with leases. Taxes are currently paid under protest. Based on uniformity, the taxes for buildings on either side of this property and the attorney who has already filed the appeal, taxes should be about $15,000 which will bring net income to $59,980 or the cap rate to 6.77 Great Oppportunity!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,029
Year Built
- Built in 1961
Lot Details
- 0.38 Acre Lot
- Lot Dimensions are 75 x 218
Parking
- 13 to 18 Parking Spaces
Home Design
- Brick Exterior Construction
- Concrete Perimeter Foundation
Interior Spaces
- 3-Story Property
- Storage Room
- Laundry Room
- Exterior Basement Entry
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Bathrooms
Utilities
- Cooling System Mounted In Outer Wall Opening
- Heating Available
Listing and Financial Details
- Tenant pays for air conditioning, electricity, heat
Community Details
Overview
- 8 Units
Building Details
- Electric Expense $778
- Insurance Expense $4,345
- Maintenance Expense $1,500
- Trash Expense $1,488
- Water Sewer Expense $1,590
- Operating Expense $34,260
- Gross Income $84,420
- Net Operating Income $51,300
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/02/2022 03/02/22 | Sold | $825,000 | -6.8% | -- |
| 12/23/2021 12/23/21 | Pending | -- | -- | -- |
| 10/29/2021 10/29/21 | For Sale | $885,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Matthew Mika
-
Norbert Mika
Seller Co-Listing Agent in 2022
Norbert Mika
Compass
(773) 406-7116
1 in this area
101 Total Sales
-
Patrick Duffy
Buyer's Agent in 2022
Patrick Duffy
Strauss Realty Ltd
(773) 736-3600
3 in this area
11 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11258348
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