NOT LISTED FOR SALE

501 E Manchester Dr Wheeling, IL 60090

9 Beds
6 Baths
5,544 Sq Ft
0.3 Acres

Last Sold April 12, 2024

Last sale price $791,000 $143 Per Sq Ft

6 Days on Market

About This Home

As of April 2024

Well maintained 6 flat (3 x 2 bed and 3 x 1 bed) brick building on quiet residential street, that backs up to newer luxury townhouse/condo development. Units have updated kitchens and bathrooms; all units have a balcony/patio. Spacious parking lot with 12 spaces, on-site laundry with owned machines for additional income. Outdoor storage shed. No association fees! Close to Milwaukee Ave shopping, transportation and major highways. **rents are currently below market value.

Last Agent to Sell the Property

Susan Romano

Real Estate Solutions Investment Group, Inc. License #471015124 Listed on: 03/05/2024

Co-Listed By

Susan Skrobowski

Real Estate Solutions Investment Group, Inc. License #475207926

Last Buyer's Agent

Non Member

NON MEMBER

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,774

Year Built

  • Built in 1973

Lot Details

  • 0.3 Acre Lot

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 5,544 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Central Heating

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $627
  • Fuel Expense $4,998
  • Insurance Expense $2,840
  • Maintenance Expense $1,141
  • Trash Expense $1,089
  • Water Sewer Expense $2,834
  • Operating Expense $37,109
  • Gross Income $75,800
  • Net Operating Income $38,690

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,774

Year Built

Built in 1973

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1973
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required
  • Estimated Age: Older
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 9
  • Basement Description: None
  • Fireplaces: 1
  • Refrigerators: 6
  • Number of Washers: 1
  • Room: 0

Exterior Features

  • Exterior Building Type: Brick

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Wall Sleeve
  • Heat/Ventilation: Central Bldg Heat
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Conversion YN: N

Fee Information

  • Trash Expense: 1089
  • Water Sewer Expenses: 2834

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 12,998
  • Lot Size Sq Ft: 12998
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 5544

Multi Family

  • Net Operating Income: 38690
  • Fuel Expense: 4998
  • Insurance Expense: 2840
  • ElectricExpense: 627
  • GrossIncome: 75800
  • Maintenance Expense: 1141
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 37109
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 20774
  • Tax Year: 2022
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/12/2024 04/12/24 Sold $791,000 +6.2% $143 / Sq Ft
03/12/2024 03/12/24 Pending -- -- --
03/05/2024 03/05/24 For Sale $745,000 -- $134 / 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
2025 $21,784 $76,000 $11,698 $64,302
2024 $21,784 $65,000 $9,424 $55,576
2023 $20,775 $65,000 $9,424 $55,576
2022 $20,775 $65,000 $9,424 $55,576
2021 $16,511 $44,563 $7,473 $37,090
2020 $16,081 $44,563 $7,473 $37,090
2019 $16,979 $51,818 $7,473 $44,345
2018 $16,632 $45,576 $6,499 $39,077
2017 $16,294 $45,576 $6,499 $39,077
2016 $15,206 $45,576 $6,499 $39,077
2015 $14,545 $40,819 $5,524 $35,295
2014 $14,188 $40,819 $5,524 $35,295
2013 -- $40,819 $5,524 $35,295
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11996071

Midwest Real Estate Data (MRED)