NOT LISTED FOR SALE

505 E Manchester Dr Wheeling, IL 60090

9 Beds
6 Baths
5,544 Sq Ft
0.29 Acres

Last Sold January 01, 2020

Last sale price $650,000 $117 Per Sq Ft

25 Days on Market

About This Home

As of January 2020

Well maintained 6 flat (3 x 2 bed and 3 x 1bed) with 12 parking spots. Laundry room on site with owned machines. Building tuck-pointed in 2018, parking lot resurfaced in 2018, New commercial washer & dryer in 2017, new windows in 2010, new roof in 2000, 4 apartments renovated within the last 2 years. Income - Unit A $1050, Unit B $925, Unit C $1050, Unit D $950, Unit E $1149,Unit F $860

Last Agent to Sell the Property

Joyce Konnerth

Konnerth Realty Group License #471001514 Listed on: 11/04/2019

Last Buyer's Agent

Youshik Shim

iProperties License #475158717

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,293

Year Built

  • Built in 1973

Lot Details

  • 0.29

Home Design

  • Brick Exterior Construction

Interior Spaces

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

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Additional Features

  • 0.29 Acre Lot
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $640
  • Fuel Expense $3,024
  • Insurance Expense $2,241
  • Maintenance Expense $1,000
  • Other Expense $2,850
  • Trash Expense $1,091
  • Water Sewer Expense $966
  • Operating Expense $27,000
  • Gross Income $71,808
  • Net Operating Income $46,130

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,293

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: 24-Hr Notice Required
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 9
  • Dishwashers: 6
  • Refrigerators: 6
  • Ranges: 6
  • Room: 0

Exterior Features

  • Exterior Building Type: Brick

Utilities

  • Cooling: Central Air
  • Heat/Ventilation: Central Heat/Indiv Controls
  • Leased Washer Dryer YN: No

Fee Information

  • Trash Expense: 1091
  • Water Sewer Expenses: 966

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.29
  • Lot Dimensions: 12998
  • Lot Size Sq Ft: 12998
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity, Other
  • Board Number: 10

Building Info

  • BuildingAreaTotal: 5544

Multi Family

  • Net Operating Income: 46130
  • Fuel Expense: 3024
  • Insurance Expense: 2241
  • ElectricExpense: 640
  • GrossIncome: 71808
  • Maintenance Expense: 1000
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 27000
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 16293
  • Tax Year: 2018
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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
01/01/2020 01/01/20 Sold $650,000 -3.7% $117 / Sq Ft
11/29/2019 11/29/19 Pending -- -- --
11/04/2019 11/04/19 For Sale $675,000 -- $122 / 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
2025 $22,454 $76,000 $11,698 $64,302
2024 $22,454 $67,000 $9,424 $57,576
2023 $21,414 $67,000 $9,424 $57,576
2022 $21,414 $67,000 $9,424 $57,576
2021 $16,284 $43,950 $7,473 $36,477
2020 $15,860 $43,950 $7,473 $36,477
2019 $16,746 $51,105 $7,473 $43,632
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 $13,099 $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: 10565487

Midwest Real Estate Data (MRED)