NOT LISTED FOR SALE

494 E Illinois Rd Lake Forest, IL 60045

Estimated Value: $1,762,000 - $1,944,000

5 Beds
4.5 Baths
4,406 Sq Ft
$429/Sq Ft Est. Value

Last Sold March 15, 2022

Last sale price $1,490,000 $338 Per Sq Ft

Est. 26% increase in value since last sale

Current estimated payment $12,055/month

46 Days on Market

Highlights

  • Home Theater
  • Family Room with Fireplace
  • Wood Flooring
  • Sheridan Elementary School Rated A
  • Vaulted Ceiling
  • Finished Attic

About This Home

As of March 2022

This 1928 East Lake Forest home has been lovingly expanded and renovated throughout. Set on a deep lot -- perfectly located between town and beach -- this home exudes charm. A pleasant foyer provides the perfect welcome into the living room with gas fireplace and original built-ins. Through French doors one can access the renovated screened porch featuring Marvin French doors and beadboard ceiling. The adjoining dining room enjoys crown molding and lovely windows. The butler's pantry has been rebuilt with new cabinets and new wood counters and the original copper sink has been restored. The renovated and expanded kitchen features top-of-the-line appliances, a huge, granite island, and sunny breakfast table space, all open to the family room. The family room enjoys a vaulted ceiling with skylights, wood burning fireplace with antique mantle and marble surround, and doors to the private bluestone patio. On the second level, the master bedroom has been renovated and expanded to add a sitting room, walk-in closet, and stunning Carrera marble bath with two marble vanities, separate tub, and walk-in shower. The second level also enjoys two additional updated bathrooms and three additional bedrooms. A third level provide a fifth, private bedroom with skylights and built-ins. The lower level has also been updated and includes a fabulous full bathroom, office, rec room, fresh laundry room, and nice storage. The detached garage was expanded from a two car to a large four car garage with substantial walk-up storage, and water and gas lines were also added. Vintage details have been preserved throughout the home, such as wood floors which have been repaired, replaced, and refinished to match the original. This beautiful property has been professionally landscaped with plantings, thoughtful hardscape design, and enhanced drainage. Over the past fifteen years, renovations, upgrades, and expansions have been performed by experienced local professionals using high quality materials and components with an eye toward enhancing the comfort and convenience of the home while retaining its historical characteristics.

Last Agent to Sell the Property

Suzanne Myers

Coldwell Banker Realty License #475134171 Listed on: 11/22/2021

Coldwell Banker Realty

Last Buyer's Agent

Suzanne Myers

Coldwell Banker Realty License #475134171 Listed on: 11/22/2021

Coldwell Banker Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $22,932

Year Built

  • Built in 1928

Lot Details

  • 0.51

Parking

  • 4 Car Detached Garage
  • Tandem Garage
  • Driveway
  • Parking Included in Price

Home Design

  • Shake Roof
  • Stucco

Interior Spaces

  • 4,406 Sq Ft Home
  • 3-Story Property
  • Wet Bar
  • Vaulted Ceiling
  • Skylights
  • Wood Burning Fireplace
  • Gas Log Fireplace
  • Entrance Foyer
  • Family Room with Fireplace
  • 2 Fireplaces
  • Living Room with Fireplace
  • Sitting Room
  • Formal Dining Room
  • Home Theater
  • Home Office
  • Screened Porch
  • Wood Flooring
  • Finished Attic
  • Breakfast Bar
  • Laundry Room

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Potential Bedrooms
  • Dual Sinks
  • Soaking Tub
  • Separate Shower

Finished Basement

  • Partial Basement
  • Finished Basement Bathroom

Schools

  • Sheridan Elementary School
  • Deer Path Middle School
  • Lake Forest High School

Utilities

  • Forced Air Zoned Heating and Cooling System
  • SpacePak Central Air
  • Partial Air Conditioning Available
  • Radiator
  • Heating System Uses Steam
  • Heating System Uses Natural Gas
  • Lake Michigan Water

Additional Features

  • Patio
  • 0.51 Acre Lot

Home Details

Home Type

Single Family

Est. Annual Taxes

$22,932

Year Built

Built in 1928

Lot Details

0.51 Acres

Parking

4

Listing Details

  • Property Type: Residential
  • Property Type: Detached Single
  • Type Detached: 3 Stories
  • Ownership: Fee Simple
  • New Construction: No
  • Property Sub-Type: 3 Stories
  • Year Built: 1928
  • Age: 91-100 Years
  • Built Before 1978 (Y/N): Yes
  • Disability Access and/or Equipped: No
  • General Information: School Bus Service,Commuter Train
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • New Construction Y/N: No
  • Actual Status: Closed
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Basement: Partial
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Total Bathrooms: 5
  • Total Bedrooms: 5
  • Fireplace Features: Wood Burning, Gas Log
  • Fireplaces: 2
  • Interior Amenities: Vaulted/Cathedral Ceilings, Skylight(s), Bar-Wet, Hardwood Floors
  • LivingArea: 4406
  • Room Type: Bedroom 5, Eating Area, Office, Media Room, Foyer, Screened Porch, Sitting Room
  • Estimated Total Finished Sq Ft: 0
  • Basement Description: Finished
  • Bathroom Amenities: Separate Shower,Double Sink,Soaking Tub
  • Basement Bathrooms: Yes
  • Below Grade Bedrooms: 0
  • Dining Room: Separate
  • Fireplace Location: Family Room,Living Room
  • Total Sq Ft: 0
  • Attic: Finished
  • Second Bedroom Flooring: Hardwood
  • Third Bedroom Flooring: Hardwood
  • Fourth Bedroom Flooring: Hardwood
  • Dining Room Flooring: Hardwood
  • Family Room Flooring: Hardwood
  • Kitchen Flooring: Hardwood
  • Kitchen Type: Eating Area-Table Space
  • Living Room Flooring: Hardwood
  • Primary Bedroom Bath: Full
  • Master Bedroom Flooring: Hardwood

Exterior Features

  • ExteriorFeatures: Patio
  • Roof: Shake
  • Waterfront: No
  • Exterior Building Type: Stucco

Garage/Parking

  • Garage Spaces: 4
  • Number of Cars: 4
  • Driveway: Asphalt
  • Garage Details: Tandem
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air, Partial, Space Pac, Zoned
  • Heating: Natural Gas, Forced Air, Steam, Radiator(s), Zoned
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Association Fee Frequency: Not Applicable
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required

Fee Information

  • Association Fee Includes: None

Schools

  • Elementary School: Sheridan Elementary School
  • High School: Lake Forest High School
  • Middle/Junior School: Deer Path Middle School

Lot Info

  • Lot Size Acres: 0.509
  • Lot Dimensions: 0.509
  • Rural (Y/N): N
  • Lot Size: .50-.99 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 2
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 22931.52
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 22, 2021
Closed on
Mar 4, 2022
Sold by
Christopher Cornwall S and Shores Sara
Bought by
Hayner Matthew and Hayner Jennifer
Seller's Agent
Suzanne Myers
Coldwell Banker Realty
Buyer's Agent
Suzanne Myers
Coldwell Banker Realty
List Price
$1,549,000
Sold Price
$1,490,000
Premium/Discount to List
-$59,000
-3.81%
Current Estimated Value
$1,883,832

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$393,832
Avg. Annual Appreciation
6.12%
Original Mortgage
$740,000
Outstanding Balance
$679,397
Interest Rate
2.5%
Mortgage Type
Balloon
Estimated Equity
$1,209,032

Purchase Details

Closed on
Dec 3, 2004
Sold by
Hart Newell Morrison and Hart Newell Johnna
Bought by
Cornwall S Christopher and Cornwall Sara Shores

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
5.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 15, 1996
Sold by
Hampton R Russell and Hampton Tracy S
Bought by
Hart Newell Morrison C and Hart Newell Johnna

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$604,000
Interest Rate
7.12%
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
Hayner Matthew $1,490,000 None Listed On Document
Cornwall S Christopher $1,407,500 Chicago Title Insurance Comp
Hart Newell Morrison C $755,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hayner Matthew $740,000
Previous Owner Cornwall S Christopher $1,000,000
Previous Owner Hart Newell Morrison C $604,000
Closed Cornwall S Christopher $214,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/15/2022 03/15/22 Sold $1,490,000 -3.8% $338 / Sq Ft
01/07/2022 01/07/22 Pending -- -- --
11/22/2021 11/22/21 For Sale $1,549,000 -- $352 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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 $28,314 $512,445 $185,236 $327,209
2023 $25,394 $449,893 $162,625 $287,268
2022 $25,394 $420,558 $152,021 $268,537
2021 $24,690 $416,931 $150,710 $266,221
2020 $24,136 $419,236 $151,543 $267,693
2019 $22,932 $411,540 $148,761 $262,779
2018 $12,651 $442,740 $198,576 $244,164
2017 $22,697 $435,340 $195,257 $240,083
2016 $21,782 $414,373 $185,853 $228,520
2015 $21,553 $390,182 $175,003 $215,179
2014 $20,393 $373,409 $157,117 $216,292
2012 $19,663 $376,648 $158,480 $218,168
Source: Public Records

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11274984

Midwest Real Estate Data (MRED)

APN: 12-33-404-004

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