Seller's Agent in 2024
Brandon Moore
RE/MAX
(217) 841-7048
3 in this area
86 Total Sales
503 E Elm St Urbana, IL 61802
Historic East Urbana NeighborhoodEstimated Value: $111,000 - $151,000
7
Beds
3
Baths
900
Sq Ft
$149/Sq Ft
Est. Value
About This Home
As of January 2024Two contiguous homes both with R-5 Zoning allowing Medium Density Multi-Family. Approximately 17,250 square feet of zoning allowing building heights up to 35 feet as per the City of Urbana. Combined the units rent for $25,320 per year currently and are locally third party managed. Earn rent until you are ready to build! Consult local zoning and perform due diligence before making an offer. Listing agent believes that the units are currently under-rented and thus there exists potential for value add.
Last Agent to Sell the Property
RE/MAX REALTY ASSOCIATES-CHA License #475119265 Listed on: 10/18/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,742
Lot Details
- Lot Dimensions are 138x125
- Additional Parcels
Parking
- 1 Car Detached Garage
- Parking Space is Owned
Interior Spaces
- 2-Story Property
- Unfinished Basement
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Potential Bedrooms
- 3 Bathrooms
Schools
- Leal Elementary School
- Urbana Middle School
- Urbana High School
Utilities
- Heating System Uses Natural Gas
Community Details
- 2 Units
Listing and Financial Details
- Homeowner Tax Exemptions
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 24, 2020
Sold by
Abey Ventures Llc
Bought by
Urbana Chapaign Rental Company Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Outstanding Balance
$795,559
Interest Rate
3.4%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$661,229
Purchase Details
Closed on
Jul 1, 2015
Sold by
Quality Living Properties Llc
Bought by
Abbey Ventures Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$872,800
Interest Rate
5%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Mar 20, 2008
Sold by
Quality Living Properties Llc
Bought by
Quality Living Properties Llc
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
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Urbana Chapaign Rental Company Llc | $1,200,000 | Attorney | |
| Abbey Ventures Llc | $1,100,000 | Attorney | |
| Quality Living Properties Llc | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Urbana Chapaign Rental Company Llc | $900,000 | |
| Previous Owner | Abbey Ventures Llc | $872,800 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 01/09/2024 01/09/24 | Sold | $250,000 | -36.7% | $278 / Sq Ft |
| 12/01/2023 12/01/23 | Pending | -- | -- | -- |
| 10/26/2023 10/26/23 | Price Changed | $395,000 | -20.2% | $439 / Sq Ft |
| 10/18/2023 10/18/23 | For Sale | $495,000 | -- | $550 / Sq Ft |
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 | $1,702 | $24,110 | $11,540 | $12,570 |
| 2023 | $1,702 | $22,000 | $10,530 | $11,470 |
| 2022 | $1,544 | $20,260 | $9,700 | $10,560 |
| 2021 | $1,390 | $18,880 | $9,040 | $9,840 |
| 2020 | $1,326 | $18,330 | $8,780 | $9,550 |
| 2019 | $1,289 | $18,330 | $8,780 | $9,550 |
| 2018 | $2,393 | $29,160 | $8,840 | $20,320 |
| 2017 | $2,475 | $29,160 | $8,840 | $20,320 |
| 2016 | $2,343 | $28,040 | $8,500 | $19,540 |
| 2015 | $3,013 | $28,040 | $8,500 | $19,540 |
| 2014 | $2,973 | $28,040 | $8,500 | $19,540 |
| 2013 | $2,934 | $28,040 | $8,500 | $19,540 |
Source: Public Records
Agents Affiliated with this Home
-
Brandon Moore
-
Susan Frobish
Buyer's Agent in 2024
Susan Frobish
Heartland Real Estate of Central Illinois, Inc
(217) 202-4688
3 in this area
44 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11911199
APN: 92-21-17-235-005
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