NOT LISTED FOR SALE

505 College Ave Lincoln, IL 62656

Estimated Value: $283,000 - $332,094

5 Beds
2.5 Baths
3,374 Sq Ft
$92/Sq Ft Est. Value

Last Sold September 15, 2021

Last sale price $277,500 $82 Per Sq Ft

Est. 12% increase in value since last sale

Current estimated payment $2,140/month

11 Days on Market

Highlights

  • Mature Trees
  • Family Room with Fireplace
  • Victorian Architecture
  • Central Elementary School Rated A-
  • Wood Flooring
  • Loft

About This Home

As of September 2021

Opportunity like this simply does not come along often. Exquisite home for the distinguished owner that is expecting elegance, sophistication, quality and notoriety that is not easily found today. Stunning, solid and well cared for describes this 3,374 square foot 5 bedroom, 2.5 bath brick Italianate home w/detached 3-car garage and full basement on corner double lot shaded by sycamore and pine trees. All the features you could hope for are here starting with the wide wrap around verandah. Double arched doors featuring hand-etched glass welcome you into foyer with its curved, open, grand walnut staircase. No small rooms here! The first floor features 12 ft. ceilings and floor to ceiling windows. The front parlor/living room is expansive, yet warm and inviting with a decorative white marble fireplace. Custom plaster cherub rosettes on the ceiling enhance the chandelier. Yale University inspired tongue and groove solid oak floors span the first floor. Follow the arched doorways through to the back sitting room with wood-burning fireplace and side entrance to the wrap around verandah. One room over is the spacious formal dining room with large storage closet and recessed lighting. The back family room also has its own entrance with classic built-ins from the old kitchen pass-through, a walnut fireplace mantle, and butternut and walnut wainscotting. Thick crown molding is featured throughout the home as is original light fixtures. Surprisingly large kitchen is modern with barstool area eating space, solid oak cabinets, granite countertops, custom oversized pantry and is connected to the breakfast room featuring built-in cabinets specially designed for cooling homemade canned fruits and jams. This area makes for an outstanding mudroom, back entrance off the driveway and eating area to keep your personal living messes out of the eyes of guests! A screened back porch finishes off the first story. Back staircase is tucked away next to the kitchen. Upstairs is just as gorgeous and surprising with a loft/sewing room or office outside of the massive master suite featuring a private full bath. Curved hallway with built-in linen closet leads you down to the remaining spacious bedrooms, one also en-suite and two feature working marble splash sinks. Bedrooms upstairs all have working transom windows. 5th bedroom/office holds the upstairs second story laundry and overlooks the rare and coveted "sleeping porch" for those warm summer nights. Third story walk up attic has been well insulated. Known as the Hoblit House, designed by well-known architect George W. Gayle, this stately home can be found on the National Register of Historic Places for its distinctive Italianate characteristics and high artistic value that embodies this method and period of construction. In simpler terms, this home is well cared for treasured art. It has been nicely updated and well maintained in all the right places. Centrally located in the heart of downtown Lincoln, within walking distance to Lincoln College. Amtrak station in town makes this Central Illinois town highly desirable for the midwest travelling resident. Watch VIRTUAL TOUR for whole-home walkthrough.

Last Agent to Sell the Property

Laura Schiavone

Keller Williams Infinity License #475147143 Listed on: 06/02/2021

Keller Williams Infinity

Last Buyer's Agent

Kyle Yap

RE/MAX Rising License #475167043

RE/MAX Rising

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,997

Year Built

  • Built in 1874

Lot Details

  • 0.53 Acre Lot
  • Corner Lot
  • Paved or Partially Paved Lot
  • Level Lot
  • Mature Trees

Parking

  • 3 Car Detached Garage
  • Garage Transmitter
  • Garage Door Opener
  • Driveway
  • Parking Included in Price

Home Design

  • Victorian Architecture
  • Stone Foundation
  • Asphalt Roof

Interior Spaces

  • 3,374 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Historic or Period Millwork
  • Wood Burning Fireplace
  • Decorative Fireplace
  • Gas Log Fireplace
  • Blinds
  • Entrance Foyer
  • Family Room with Fireplace
  • 3 Fireplaces
  • Living Room with Fireplace
  • Sitting Room
  • Breakfast Room
  • Formal Dining Room
  • Loft
  • Screened Porch
  • Wood Flooring

Kitchen

  • Microwave
  • Dishwasher
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Potential Bedrooms

Laundry

  • Laundry on upper level
  • Dryer
  • Washer

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Exterior Basement Entry

Home Security

  • Home Security System
  • Storm Screens

Outdoor Features

  • Balcony
  • Exterior Lighting

Schools

  • Lincoln High School

Utilities

  • Central Air
  • Radiator
  • Heating System Uses Natural Gas
  • Water Softener is Owned

Community Details

  • Italianate

Listing and Financial Details

  • Homeowner Tax Exemptions

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,997

Year Built

Built in 1874

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential
  • Property Type: Detached Single
  • Type Detached: 2 Stories
  • Ownership: Fee Simple
  • ArchitecturalStyle: Victorian
  • New Construction: No
  • Property Sub-Type: 2 Stories
  • Year Built: 1874
  • 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
  • New Construction Y/N: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal, Water Softener Owned
  • Basement: Full, Walkout
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Total Bathrooms: 3
  • Total Bedrooms: 5
  • Fireplace Features: Wood Burning, Gas Log, Decorative, More than one
  • Fireplaces: 3
  • Interior Amenities: Hardwood Floors, 2nd Floor Laundry, Built-in Features, Historic/Period Mlwk, Special Millwork, Drapes/Blinds, Granite Counters, Separate Dining Room
  • LivingArea: 3374
  • Other Equipment: Security System
  • Room Type: Bedroom 5, Breakfast Room, Loft, Sitting Room, Foyer, Enclosed Porch, Screened Porch
  • Estimated Total Finished Sq Ft: 0
  • Basement Description: Unfinished,Exterior Access
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Dining Room: Separate
  • Fireplace Location: Family Room,Living Room,Other
  • Total Sq Ft: 0
  • Attic: Interior Stair,Unfinished
  • Bedroom 2 Flooring: Hardwood
  • Dining Room Flooring: Hardwood
  • Kitchen Flooring: Vinyl
  • Kitchen: Eating Area-Breakfast Bar,Pantry-Closet,Breakfast Room,Granite Counters
  • Living Room Flooring: Hardwood
  • MRD_MBB: Full
  • Master Bedroom Flooring: Carpet
  • Master Bedroom Dimensions: 17X15
  • Bedroom 3 Flooring: Hardwood
  • Living Room Windows: Window Treatments
  • Family Room Flooring: Hardwood
  • Dining Room Windows: Window Treatments

Exterior Features

  • ExteriorFeatures: Balcony, Porch, Porch Screened, Storms/Screens
  • Foundation Details: Stone
  • Lot Features: Corner Lot, Mature Trees, Level, Outdoor Lighting, Sidewalks, Streetlights
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Brick,Limestone

Garage/Parking

  • Garage Spaces: 3
  • Number of Cars: 3
  • Driveway: Asphalt
  • Garage Details: Garage Door Opener(s),Transmitter(s)
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Heating: Natural Gas, Radiator(s)
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee Frequency: Not Applicable
  • Community Features: Curbs, Sidewalks, Street Lights, Street Paved
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required

Fee Information

  • Association Fee Includes: None

Schools

  • High School: Lincoln High School

Lot Info

  • Lot Size Acres: 0.53
  • Lot Dimensions: 23087
  • Rural (Y/N): N
  • Lot Size: .50-.99 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 17
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 4997
  • Tax Year: 2019
  • Tax Exemptions: Homeowner

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 2, 2021
Closed on
Sep 10, 2021
Sold by
Mccormick Timothy T and Mccormick Liana D
Bought by
Smiser Brian Jeremiah and Smiser Sylvia Maritza
Seller's Agent
Laura Schiavone
Keller Williams Infinity
Buyer's Agent
Kyle Yap
RE/MAX Rising
List Price
$285,000
Sold Price
$277,500
Premium/Discount to List
-$7,500
-2.63%
Current Estimated Value
$312,024

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$34,524
Avg. Annual Appreciation
2.83%
Original Mortgage
$172,500
Outstanding Balance
$156,252
Interest Rate
2.5%
Mortgage Type
New Conventional
Estimated Equity
$155,772
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
Smiser Brian Jeremiah $277,500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smiser Brian Jeremiah $172,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/15/2021 09/15/21 Sold $277,500 -2.6% $82 / Sq Ft
06/14/2021 06/14/21 Pending -- -- --
06/02/2021 06/02/21 For Sale $285,000 -- $84 / 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 $5,898 $70,340 $19,690 $50,650
2023 $5,592 $65,130 $18,230 $46,900
2022 $5,415 $60,870 $17,040 $43,830
2021 $5,192 $58,440 $16,360 $42,080
2020 $5,117 $57,580 $16,120 $41,460
2019 $4,997 $56,450 $15,800 $40,650
2018 $4,947 $55,340 $15,490 $39,850
2017 $4,918 $55,340 $15,490 $39,850
2016 $4,790 $55,280 $15,470 $39,810
2015 $4,714 $54,420 $15,570 $38,850
2014 $4,714 $54,420 $15,570 $38,850
2013 $4,714 $51,660 $14,780 $36,880
2012 $4,714 $52,590 $15,050 $37,540
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11103314

Midwest Real Estate Data (MRED)

APN: 08-236-001-00