NOT LISTED FOR SALE

505 W Melrose St Unit 407 Chicago, IL 60657

Lakeview East Neighborhood

Estimated Value: $221,002 - $324,000

1 Bed
1 Bath
525 Sq Ft
10,542 Sq Ft Lot

Last Sold February 25, 2013

Last sale price $96,000 $183 Per Sq Ft

Est. 165% increase in value since last sale

Current estimated payment $1,609/month

Highlights

  • Lock-and-Leave Community
  • Elevator
  • Living Room
  • Nettelhorst Elementary School Rated A-
  • 1 Car Attached Garage
  • Laundry Room

About This Home

As of May 2023

Spacious one bedroom condo with recently updated galley-style kitchen and combo living/dining room. Rent includes heat, gas, water. Air conditioning supplied by a wall unit and run through ductwork between bedroom and living/dining room for whole-home comfort. Located in the heart of Lakeview, between Broadway and the lake! Near Shopping, Restaurants, Lake Shore Drive and bike paths. Steps from #36 Broadway Bus and close to CTA Red & Brown lines at Belmont. Parking is included. Requires credit/background check. $500 non-refundable move-in fee in lieu of security deposit.

Last Agent to Rent the Property

Philip Beckert

Century 21 Circle License #475200760 Listed on: 04/25/2023

Century 21 Circle

Last Renter's Agent

Elias Masud

Compass License #475163294

Compass

Condo Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,291

Year Built

  • Built in 1967 | Remodeled in 2014

Lot Details

  • 10,542

Parking

  • 1 Car Attached Garage
  • Garage Door Opener
  • Driveway
  • Parking Included in Price

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 525 Sq Ft Home
  • Family Room
  • Living Room
  • Dining Room
  • Laminate Flooring
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Potential Bedroom
  • 1 Full Bathroom

Utilities

  • One Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Lake Michigan Water

Listing and Financial Details

  • Property Available on 8/16/21
  • Rent includes gas, heat, water, scavenger, security system, exterior maintenance, storage lockers, snow removal
  • 12 Month Lease Term

Community Details

Overview

  • 22 Units
  • Lock-and-Leave Community
  • 5-Story Property

Amenities

  • Coin Laundry
  • No Laundry Facilities
  • Elevator

Pet Policy

  • Pets up to 20 lbs
  • Dogs and Cats Allowed

Condo Details

Home Type

Condominium

Est. Annual Taxes

$3,291

Year Built

Built in 1967 | Remodeled in 2014

Lot Details

0

Parking

1

Rental Info

  • Available Date: 2021-08-16
  • Lease Term: 12 Months
  • Board Number: 8
  • Pets Allowed (Y/N): Yes
  • Type of Rental Property: Attached
  • Rental Price: 1650
  • Security Deposit: YES
  • Is Parking Included in Price: Yes
  • Fees/Approvals: Credit Report
  • Max Pet Weight: 20

Listing Details

  • Property Type: Residential Lease
  • Property Type: Residential Lease
  • Type Attached: Condo
  • Property Sub-Type: Attached
  • Year Built: 1967
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • Disability Access and/or Equipped: No
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Unit Floor Level: 4
  • Rehab Year: 2014
  • ResoPropertyType: ResidentialLease
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 5
  • Year Renovated: 2014

Interior Features

  • Basement: None
  • Full Bathrooms: 1
  • Total Bathrooms: 1
  • Total Bedrooms: 1
  • Furnished: No
  • LivingArea: 525
  • Room Type: No additional rooms
  • Stories Total: 5
  • Estimated Total Finished Sq Ft: 525
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Total Sq Ft: 525
  • Flooring: Wood Laminate
  • ResoLivingAreaSource: Estimated

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Garage Spaces: 1
  • Number of Cars: 1
  • Driveway: Concrete
  • Garage Details: Garage Door Opener(s)
  • Garage On-Site: Yes
  • Garage Type: Attached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Cooling: Window/Wall Unit - 1
  • Heating: Natural Gas
  • Laundry Features: None
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Pets Allowed: Additional Pet Rent, Cats OK, Dogs OK
  • Association Amenities: Coin Laundry, Elevator(s), Security Door Lock(s)
  • Rent Includes: Gas, Heat, Water, Scavenger, Security System, Exterior Maintenance, Storage Lockers, Snow Removal

Lot Info

  • Lot Dimensions: COMMON
  • Rural (Y/N): N

Multi Family

  • Units in Building: 22

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 1, 2023
Sold by
Leah & Nina Properties Llc
Bought by
Langdon Melrose Llc
Current Estimated Value
$254,501

Purchase Details

Listed on
Jan 11, 2013
Closed on
Feb 6, 2013
Sold by
Us Bank Na
Bought by
Leah & Nina Properties Llc
Seller's Agent
Arthur Cirignani
Chicago Realty Partners, Ltd
Buyer's Agent
Moran Golan
RISING REALTY LLC
List Price
$84,900
Sold Price
$96,000
Premium/Discount to List
$11,100
13.07%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.99%

Purchase Details

Closed on
Jun 12, 2012
Sold by
Magbanua Alvin
Bought by
Greenpoint Mortgage Funding Trust Mortga

Purchase Details

Closed on
May 29, 2002
Sold by
Kraft Richard E
Bought by
Magbanua Alvin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$118,000
Interest Rate
6.95%

Purchase Details

Closed on
Sep 24, 1998
Sold by
Saltiel David M
Bought by
Kraft Richard E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$69,800
Interest Rate
7.62%
Source: Public Records

Range of Values:

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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
Langdon Melrose Llc $197,500 None Listed On Document
Leah & Nina Properties Llc $96,000 First American Title
Greenpoint Mortgage Funding Trust Mortga -- None Available
Magbanua Alvin $147,500 --
Kraft Richard E $57,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Magbanua Alvin $118,000
Previous Owner Kraft Richard E $69,800
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/04/2023 05/04/23 Rented $1,650 0.0% --
05/01/2023 05/01/23 Off Market $1,650 -- --
04/25/2023 04/25/23 For Rent $1,650 +24.5% --
09/16/2021 09/16/21 Rented -- -- --
08/16/2021 08/16/21 For Rent $1,325 -8.6% --
04/09/2020 04/09/20 Rented $1,450 0.0% --
04/09/2020 04/09/20 For Rent $1,450 0.0% --
03/16/2020 03/16/20 Off Market $1,450 -- --
02/14/2020 02/14/20 Price Changed $1,450 -3.3% --
01/17/2020 01/17/20 For Rent $1,500 0.0% --
11/26/2018 11/26/18 Rented $1,500 0.0% --
11/12/2018 11/12/18 For Rent $1,500 -9.1% --
05/08/2018 05/08/18 Rented $1,650 +10.0% --
05/04/2018 05/04/18 Under Contract -- -- --
04/24/2018 04/24/18 For Rent $1,500 -9.1% --
04/13/2017 04/13/17 Rented $1,650 +10.0% --
04/12/2017 04/12/17 Under Contract -- -- --
04/04/2017 04/04/17 For Rent $1,500 0.0% --
02/25/2013 02/25/13 Sold $96,000 +13.1% -- View Prior Sale
02/01/2013 02/01/13 Pending -- -- --
01/11/2013 01/11/13 For Sale $84,900 -- --
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 $3,291 $20,641 $3,616 $17,025
2023 $3,208 $15,600 $2,916 $12,684
2022 $3,208 $15,600 $2,916 $12,684
2021 $3,137 $15,599 $2,915 $12,684
2020 $2,144 $9,626 $1,924 $7,702
2019 $2,118 $10,543 $1,924 $8,619
2018 $2,083 $10,543 $1,924 $8,619
2017 $1,975 $9,173 $1,691 $7,482
2016 $1,837 $9,173 $1,691 $7,482
2015 $1,681 $9,173 $1,691 $7,482
2014 $2,037 $10,978 $1,384 $9,594
2013 $1,997 $10,978 $1,384 $9,594
Source: Public Records

Agents Affiliated with this Home

  • P

    Landlord's Agent in 2023

    Philip Beckert

    Century 21 Circle

    Section Image

  • E

    Tenant's Agent in 2023

    Elias Masud

    Compass

    (312) 600-7027

    19 in this area

    571 Total Sales

    Elias Masud
    Section Image

  • D

    Seller's Agent in 2021

    Donna Manella

    Century 21 Circle

    Section Image

  • C

    Buyer's Agent in 2021

    Cosmina Neaga

    312 Estates LLC

    (773) 627-6633

    2 in this area

    15 Total Sales

    Cosmina Neaga
    Section Image

  • P

    Seller's Agent in 2020

    Peter Koconis

    ERA Rising Realty

  • M

    Buyer's Agent in 2020

    Milan Vukosavljevic

    Pioneer Realty Group LLC

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11767221

Midwest Real Estate Data (MRED)

APN: 14-21-314-055-1028

Illinois Cook County Chicago 60657 Lakeview East

505 W Melrose St Unit 407, Chicago, IL

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