Seller's Agent in 2025
Ralph Binetti
RE/MAX Suburban
(630) 707-1776
3 in this area
180 Total Sales
465 N Mill Rd Addison, IL 60101
--
Bed
--
Bath
--
Sq Ft
0.47
Acres
About This Home
As of October 2025This is a very solid, income-producing 12-unit building that's easy to manage. With 10 two-bedroom units and 2 one-bedroom units-all fully leased-this property offers strong, steady rental income and an excellent cap rate. It's all brick, has been well cared for by a hands-on landlord, and sits in a convenient location near expressways, shopping, and parks. What makes this opportunity even more attractive is the significant amount of capital improvement already completed, eliminating the need for major work in the near future. Seven of the twelve units have been remodeled between 2016 and 2024, with the others updated through the years (all but one). In addition, the property features a brand new 26-space parking lot completed in 2025, a new A.O. Smith water heater (2024), upgraded attic insulation with R-38 Energy 360 (2020), a new boiler and control system (2020), and a new roof installed in 2018. There's no association, plenty of parking, double wide lot and minimal ongoing maintenance-making this an extremely investor-friendly property. It's rare to find a building this well-positioned, both physically and financially. If you're looking for a strong-performing asset in a great location with long-term upside, don't miss out on this one.
Last Agent to Sell the Property
RE/MAX Suburban License #471004724 Listed on: 07/01/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $27,738
Year Built
- Built in 1970
Lot Details
- 0.47 Acre Lot
- Lot Dimensions are 140x145
Home Design
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
- Exterior Basement Entry
Utilities
- No Cooling
- Radiator
Community Details
Overview
- 12 Units
Building Details
- Electric Expense $903
- Fuel Expense $4,440
- Insurance Expense $5,997
- Other Expense $680
- Water Sewer Expense $16,547
- Operating Expense $59,025
- Gross Income $209,400
- Net Operating Income $156,568
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/24/2025 10/24/25 | Sold | $1,946,700 | 0.0% | -- |
| 07/27/2025 07/27/25 | Pending | -- | -- | -- |
| 07/01/2025 07/01/25 | For Sale | $1,946,700 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $27,738 | $393,556 | $157,416 | $236,140 |
| 2023 | $26,633 | $361,790 | $144,710 | $217,080 |
| 2022 | $25,377 | $344,560 | $137,820 | $206,740 |
| 2021 | $24,376 | $330,040 | $132,010 | $198,030 |
| 2020 | $23,776 | $316,130 | $126,450 | $189,680 |
| 2019 | $23,670 | $303,970 | $121,590 | $182,380 |
| 2018 | $23,500 | $289,490 | $101,310 | $188,180 |
| 2017 | $22,966 | $276,680 | $96,830 | $179,850 |
| 2016 | $22,482 | $255,450 | $89,400 | $166,050 |
| 2015 | $22,059 | $235,980 | $82,590 | $153,390 |
| 2014 | $21,112 | $224,390 | $56,100 | $168,290 |
| 2013 | $20,647 | $228,960 | $57,240 | $171,720 |
Source: Public Records
Agents Affiliated with this Home
-
Ralph Binetti
-
Santino Binetti
Seller Co-Listing Agent in 2025
Santino Binetti
RE/MAX Suburban
(630) 940-9751
1 in this area
21 Total Sales
-
Marek Milewski
Buyer's Agent in 2025
Marek Milewski
xr realty
(773) 814-3444
2 in this area
60 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12400822
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.
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.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked.
Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Nearby Homes
- 661 N Briar Hill Ln Unit 5
- 387 Masters Dr
- 330 Masters Dr
- 235 N Mill Rd Unit 115B
- 6219 Links Dr Unit 27001
- 6213 Links Dr Unit 26001
- 6221 Links Dr Unit 27002
- 6232 Links Dr Unit 3001
- 6220 Links Dr Unit 1001
- 276 Masters Dr
- 701 N Craig Place
- 257 Masters Dr
- 253 Masters Dr
- Birch Plan at The Townes at Mill Creek
- Chestnut Plan at The Townes at Mill Creek
- Aspen Plan at The Townes at Mill Creek
- Willow Plan at The Townes at Mill Creek
- 542 W Memory Ln
- 641 N Highview Ave
- 427 W Natoma Ave