NOT LISTED FOR SALE

502 S Madison St Morrison, IL 61270

Estimated Value: $61,000 - $79,440

3 Beds
1 Bath
990 Sq Ft
$69/Sq Ft Est. Value

Last Sold August 03, 2023

Last sale price $52,900 $53 Per Sq Ft

Est. 33% increase in value since last sale

Current estimated payment $493/month

4 Days on Market

About This Home

As of August 2023

This 1 1/2 story home is in a convenient location near schools and library. Main floor bathroom, bedroom and laundry. Roof and Garage new in 2015. Central air installed in 2016. New Furnace February 2023. Would be a great investment property or starter home!

Last Agent to Sell the Property

Domini Buikema

Kophamer & Blean Realty License #475180969 Listed on: 06/16/2023

Last Buyer's Agent

Non Member

NON MEMBER

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,586

Year Built

  • Built in 1920

Lot Details

  • 3,964 Sq Ft Lot
  • Lot Dimensions are 62x64

Parking

  • 1 Car Attached Garage
  • Parking Space is Owned

Home Design

  • Vinyl Siding

Interior Spaces

  • 990 Sq Ft Home
  • 1.5-Story Property
  • Crawl Space

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Potential Bedrooms
  • 1 Full Bathroom

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,586

Year Built

Built in 1920

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential
  • Property Type: Detached Single
  • Type Detached: 1.5 Story
  • Ownership: Fee Simple
  • New Construction: No
  • Property Sub-Type: 1.5 Story
  • Year Built: 1920
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • Disability Access and/or Equipped: No
  • General Information: School Bus Service
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Basement: None
  • Full Bathrooms: 1
  • Total Bathrooms: 1
  • Total Bedrooms: 3
  • LivingArea: 990
  • Room Type: No additional rooms
  • Estimated Total Finished Sq Ft: 0
  • Basement Description: Crawl
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Total Sq Ft: 0
  • Total Sq Ft: 0
  • ResoLivingAreaSource: Assessor

Exterior Features

  • List Price: 49900
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Garage Spaces: 1
  • ParkingTotal: 1
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Attached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Heating: Natural Gas, Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee Frequency: Not Applicable
  • Master Association Fee Frequency: Not Required

Fee Information

  • Association Fee Includes: None

Schools

  • Middle/Junior School District: 6

Lot Info

  • Lot Size Acres: 0.091
  • Lot Dimensions: 62X64
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 19

Tax Info

  • Tax Annual Amount: 1586.34
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 1, 2015
Closed on
Dec 17, 2015
Sold by
Weets Bradley M and Weets Jenna L
Bought by
Ottens Gary L
Seller's Agent
Barbara Kophamer
RE/MAX Sauk Valley
Buyer's Agent
Jacqueline Woodman
Forefront Realty LLC
List Price
$55,000
Sold Price
$53,500
Premium/Discount to List
-$1,500
-2.73%
Current Estimated Value
$70,172

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$16,672
Avg. Annual Appreciation
2.80%
Original Mortgage
$56,900
Outstanding Balance
$45,845
Interest Rate
4.12%
Mortgage Type
New Conventional
Estimated Equity
$23,981

Purchase Details

Closed on
May 24, 2011
Sold by
Swanson Jenna L and Weets Bradley M
Bought by
Weets Bradley M and Weets Jenna L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$42,925
Interest Rate
4.75%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 14, 2008
Sold by
Peppers Chad J and Greeley Robert L
Bought by
Swanson Jenna L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,816
Interest Rate
6.41%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 17, 2008
Sold by
Centrue Bank
Bought by
Greeley Robert L and Peppers Chad J

Purchase Details

Closed on
Nov 19, 2007
Sold by
Graves French R and Graves Debbie L
Bought by
Centrue Bank and Unionbank
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Ottens Gary L $53,500 Attorney
Weets Bradley M -- Gomez Title
Swanson Jenna L $39,500 None Available
Greeley Robert L $10,500 None Available
Centrue Bank -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ottens Gary L $56,900
Previous Owner Weets Bradley M $42,925
Previous Owner Swanson Jenna L $40,816
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/03/2023 08/03/23 Sold $52,900 +6.0% $53 / Sq Ft
06/21/2023 06/21/23 Pending -- -- --
06/16/2023 06/16/23 For Sale $49,900 -6.7% $50 / Sq Ft
12/18/2015 12/18/15 Sold $53,500 -2.7% $46 / Sq Ft
11/05/2015 11/05/15 Pending -- -- --
10/05/2015 10/05/15 For Sale $55,000 0.0% $47 / Sq Ft
09/18/2015 09/18/15 Pending -- -- --
09/17/2015 09/17/15 Price Changed $55,000 +10.2% $47 / Sq Ft
06/30/2015 06/30/15 Price Changed $49,900 -9.1% $43 / Sq Ft
06/01/2015 06/01/15 For Sale $54,900 -- $47 / Sq Ft
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 $1,322 $22,208 $1,804 $20,404
2023 $1,689 $20,218 $1,642 $18,576
2022 $1,586 $18,776 $1,525 $17,251
2021 $1,545 $18,386 $1,493 $16,893
2020 $1,574 $18,734 $1,521 $17,213
2019 $1,579 $18,609 $786 $17,823
2018 $1,640 $18,525 $782 $17,743
2017 $375 $17,795 $751 $17,044
2016 $374 $17,163 $724 $16,439
2015 $648 $13,422 $742 $12,680
2014 $637 $13,271 $734 $12,537
2013 $648 $13,422 $742 $12,680
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11809963

Midwest Real Estate Data (MRED)

APN: 0918453002