NOT LISTED FOR SALE

452 E Chicago St Elgin, IL 60120

Gifford Park Neighborhood

Estimated Value: $331,000 - $395,000

5 Beds
3 Baths
-- Sq Ft
8,276 Sq Ft Lot

Last Sold April 23, 2021

Last sale price $284,000

Est. 26% increase in value since last sale

Current estimated payment $2,471/month

3 Days on Market

Highlights

  • Corner Lot
  • Screened Porch
  • Detached Garage
  • McDade Elementary Classical School Rated 10
  • Lower Floor Utility Room
  • 3-minute walk to Channing Park

About This Home

As of April 2021

GREAT INCOME PROPERTY! FULLY RENTED 3 UNIT BRICK BUILDING WITH DETACHED 2 CAR GARAGE IN ELGIN'S HISTORIC DISTRICT. LONG TERM TENANTS. NEWER ROOF AND GUTTERS. NEW WINDOWS IN LOWER LEVEL APARTMENT. ORIGINAL HARDWOOD FLOORS IN THE 2 BEDROOM UNITS. UNIT 2 HAS DECORATIVE FIREPLACE. SEPARATE FURNACES, SEPARATE ELECTRIC BREAKERS, WATER HEATERS AND GAS METERS- TENANTS PAYS OWN GAS, HEAT & ELECTRIC. TWO CAR DETACHED GARAGE. LAUNDRY ROOM WITH COIN OPERATED WASHER AND DRYER- WASHER IS NEW. PROFESSIONALLY LANDSCAPED. OWNER ONLY PAYS WATER!! NEW STREETS, SIDEWALKS, AND SEWER/STORM SEWERS FROM THE CITY OF ELGIN. GREAT LOCATION. SHORT DISTANCE TO DOWNTOWN ELGIN. BUS STOP RIGHT IN FRONT OF BUILDING.

Last Agent to Sell the Property

Phil Reaume

Solid Realty Services, Inc. License #471003914 Listed on: 02/26/2021

Last Buyer's Agent

Luis Jaramillo

Real People Realty License #475182814

Real People Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • 1870

Lot Details

  • 8,276

Parking

  • Detached Garage
  • Parking Available
  • Off-Street Parking
  • Parking Included in Price
  • Garage Is Owned

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Asphalt Shingled Roof

Interior Spaces

  • Soaking Tub
  • Screened Porch
  • Lower Floor Utility Room
  • Storm Screens

Finished Basement

  • Basement Fills Entire Space Under The House
  • Exterior Basement Entry

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Additional Features

  • Corner Lot
  • Property is near a bus stop

Community Details

  • Net Operating Income $28,409

Listing and Financial Details

  • $7,000 Seller Concession

Property Details

Home Type

Multi-Family

Year Built

1870

Lot Details

0

Parking

2

Listing Details

  • Property Type: Two to Four Units
  • Built Before 1978 (Y/N): Yes
  • General Information: Commuter Bus
  • Age: 100+ Years
  • Full Bathrooms: 3
  • Ownership: Fee Simple
  • Total Full or Half Bathrooms: 3
  • Repairs Decor Expense: 300
  • Estimated Year Built: 1870
  • Other Addl Income: Coin Laundry
  • Type Multi: 3 Flat
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1870

Interior Features

  • Number Of Rooms: 11
  • Equipment: CO Detectors, Multiple Water Heaters
  • Basement: Full
  • Basement: Finished, Exterior Access
  • Bedrooms All Levels: 5
  • Bathroom Amenities: Soaking Tub
  • Above Grade Bedrooms: 5
  • Additional Rooms: Enclosed Porch, Utility Room-Lower Level

Exterior Features

  • Foundation: Concrete
  • Lot Size: Less Than .25 Acre
  • Exterior Building Type: Brick
  • Roof Type: Asphalt/Glass (Shingles)
  • Exterior Property Features: Porch Screened, Storms/Screens
  • Acreage: 0.19

Garage/Parking

  • Number of Cars: 7
  • Parking: Garage, Space/s
  • Parking Details: Off Street
  • Number Parking Spaces: 5
  • Parking On Site: Yes
  • Garage Type: Detached
  • Garage On Site: Yes
  • Number Garage Spaces: 2
  • Parking Included In Price: Yes
  • Parking Ownership: Owned
  • Garage Ownership: Owned

Utilities

  • Water: Public
  • Sewer: Sewer-Public
  • Heating Fuel: Gas, Forced Air
  • Water Expense: 2616

Fee Information

  • Insurance Expense: 1089
  • Gross Expenses: 680

Schools

  • Junior High Dist: 46

Lot Info

  • Lot Dimensions: 8250
  • Lot Description: Corner
  • Parcel Identification Number: 0613259005

Rental Info

  • Gross Rental Income: 38496
  • Total Rental Income: 37776

Multi Family

  • Total Number Unitsin Building: 3
  • Full Baths In Building: 3
  • Net Operating Income: 28409

Tax Info

  • Taxes: 5402.26

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 26, 2021
Closed on
Mar 30, 2021
Sold by
Fain Steven D and Fain Sandra B
Bought by
Mercado Luis
Seller's Agent
Phil Reaume
Solid Realty Services, Inc.
Buyer's Agent
Luis Jaramillo
Real People Realty
List Price
$283,900
Sold Price
$284,000
Premium/Discount to List
$100
0.04%
Current Estimated Value
$358,053

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$74,053
Avg. Annual Appreciation
5.67%
Original Mortgage
$278,856
Outstanding Balance
$250,750
Interest Rate
2.75%
Mortgage Type
FHA
Estimated Equity
$116,556

Purchase Details

Closed on
May 26, 1998
Sold by
Doron Properties Inc
Bought by
Fain Steven D and Fain Sandra B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$117,600
Interest Rate
7%

Purchase Details

Closed on
Jun 13, 1996
Sold by
Herzog Marvin A and Herzog Sharon
Bought by
Dorton Properties Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
8.29%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Mercado Luis $284,000 Attorney
Fain Steven D $147,000 Chicago Title Insurance Co
Dorton Properties Inc $128,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mercado Luis $278,856
Previous Owner Fain Steven D $117,600
Previous Owner Dorton Properties Inc $100,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/23/2021 04/23/21 Sold $284,000 0.0% --
03/01/2021 03/01/21 Pending -- -- --
02/26/2021 02/26/21 For Sale $283,900 -- --
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
2024 $7,134 $89,145 $17,011 $72,134
2023 $6,865 $80,536 $15,368 $65,168
2022 $5,899 $68,033 $14,013 $54,020
2021 $5,675 $63,606 $13,101 $50,505
2020 $5,538 $60,722 $12,507 $48,215
2019 $5,402 $57,842 $11,914 $45,928
2018 $5,387 $54,491 $11,224 $43,267
2017 $5,298 $51,514 $10,611 $40,903
2016 $5,097 $47,791 $9,844 $37,947
2015 -- $43,805 $9,023 $34,782
2014 -- $43,265 $8,912 $34,353
2013 -- $44,406 $9,147 $35,259
Source: Public Records

Agents Affiliated with this Home

  • Phil Reaume

    Seller's Agent in 2021

    Phil Reaume

    Solid Realty Services, Inc.

    (847) 975-9764

    1 in this area

    32 Total Sales

    Phil Reaume
    Section Image

  • L

    Buyer's Agent in 2021

    Luis Jaramillo

    Real People Realty

    (815) 469-7449

    1 in this area

    7 Total Sales

    Luis Jaramillo
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD11005179

Midwest Real Estate Data (MRED)

APN: 06-13-259-005

Illinois Kane County Elgin 60120 Gifford Park

452 E Chicago St, Elgin, IL

Not Listed for Sale

MultiFamily

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