NOT LISTED FOR SALE

505 W Melrose St Unit 507 Chicago, IL 60657

Lakeview East Neighborhood

Estimated Value: $209,000 - $230,000

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

Last Sold February 09, 2018

Last sale price $190,000 $224 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $1,386/month

Highlights

  • Lock-and-Leave Community
  • Elevator
  • Coin Laundry
  • Nettelhorst Elementary School Rated A-
  • Living Room
  • Dogs and Cats Allowed

About This Home

As of August 2022

Large 1 bed/1bath available August 1st, 2022. Located on a quiet tree lined street. The unit is flooded with natural light from the enormous windows in both the living room and bedroom. Unit features ample amount of storage throughout: 2 coat closets, wall of closets in the bedroom AND a pantry in the kitchen. Hardwood floors throughout! Apartment is steps from restaurants, nightlife, and shopping at the end of the street on Broadway and Melrose. Also located next to the LAKEFRONT! Best of both worlds. Owner is collecting a $600 move in fee in lieu of a security deposit. Pets allowed with additional monthly pet rent. Laundry in the building. Free street parking, permit parking also available.

Last Agent to Rent the Property

Danielle Dowell

Berkshire Hathaway HomeServices Chicago License #475125415 Listed on: 07/12/2022

Berkshire Hathaway HomeServices Chicago

Co-Listed By

Ayushi Kukreja

@properties Christie's International Real Estate License #475170476

Last Renter's Agent

Alexander Burke

Baird & Warner License #475189186

Baird & Warner

Condo Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,017

Year Built

  • Built in 1967

Lot Details

  • 10,542

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 850 Sq Ft Home
  • Living Room
  • Range

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 8/1/22
  • Rent includes gas, heat, water, scavenger, security system, exterior maintenance, snow removal

Community Details

Overview

  • 22 Units
  • Mid-Rise Condominium
  • Lock-and-Leave Community
  • 5-Story Property

Amenities

  • Coin Laundry
  • Elevator

Pet Policy

  • Pets up to 25 lbs
  • Dogs and Cats Allowed

Condo Details

Home Type

Condominium

Est. Annual Taxes

$3,017

Year Built

Built in 1967

Lot Details

0

Rental Info

  • Available Date: 2022-08-01
  • Board Number: 8
  • Pets Allowed (Y/N): Yes
  • Type of Rental Property: Attached
  • Rental Price: 1575
  • Security Deposit: 0
  • Fees/Approvals: Credit Report,Move-in Fee
  • Max Pet Weight: 25

Listing Details

  • Property Type: Residential Lease
  • Property Type: Residential Lease
  • Type Attached: Condo,Mid Rise (4-6 Stories)
  • 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): No
  • Unit Floor Level: 5
  • ResoPropertyType: ResidentialLease
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 5

Interior Features

  • Appliances: Range, Refrigerator
  • Basement: None
  • Full Bathrooms: 1
  • Total Bathrooms: 1
  • Total Bedrooms: 1
  • Furnished: No
  • LivingArea: 850
  • Room Type: No additional rooms
  • Stories Total: 5
  • Estimated Total Finished Sq Ft: 0
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Total Sq Ft: 0

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Number of Cars: 0
  • Parking: None

Utilities

  • Sewer: Public Sewer
  • Cooling: Window/Wall Unit - 1
  • Heating: Natural Gas
  • Laundry Features: Common Area
  • 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, Snow Removal

Lot Info

  • Lot Dimensions: COMMON

Multi Family

  • Units in Building: 22

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 10, 2023
Sold by
3110 West Belmont Ave Llc
Bought by
Langdon Melrose Llc
Current Estimated Value
$216,448

Purchase Details

Listed on
Oct 22, 2017
Closed on
Jan 30, 2018
Sold by
Chicago Title Land Trust Company
Bought by
3110 West Belmont Ave Llc
Seller's Agent
An-An Ku
Urban Living Properties, LLC
Buyer's Agent
Andy Sokol
The Sokol Group
List Price
$195,000
Sold Price
$190,000
Premium/Discount to List
-$5,000
-2.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.70%

Purchase Details

Closed on
Dec 11, 2003
Sold by
Mcgough Richard J and Mcgough Elizabeth M
Bought by
Us Bank Na and Trust #2841

Purchase Details

Closed on
Sep 2, 2003
Sold by
U S Bank
Bought by
Mcgough Richard J and Mcgourgh Elizabeth M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$122,400
Interest Rate
5.25%
Mortgage Type
Unknown
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
Langdon Melrose Llc $183,500 None Listed On Document
3110 West Belmont Ave Llc $190,000 Greater Illinois Title
Us Bank Na -- --
Mcgough Richard J -- Burnet Title Llc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mcgough Richard J $122,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/02/2022 08/02/22 Rented $1,645 +4.4% --
07/18/2022 07/18/22 Off Market $1,575 -- --
07/12/2022 07/12/22 For Rent $1,575 +12.9% --
07/30/2019 07/30/19 Rented $1,395 +3.3% --
07/26/2019 07/26/19 Under Contract -- -- --
07/24/2019 07/24/19 For Rent $1,350 0.0% --
02/09/2018 02/09/18 Sold $190,000 +14515.4% $211 / Sq Ft View Prior Sale
01/19/2018 01/19/18 Pending -- -- --
11/28/2017 11/28/17 Rented $1,300 -1.9% --
11/08/2017 11/08/17 Under Contract -- -- --
11/02/2017 11/02/17 For Rent $1,325 0.0% --
10/22/2017 10/22/17 For Sale $195,000 -- $217 / 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 $3,017 $19,363 $3,392 $15,971
2023 $2,941 $14,300 $2,735 $11,565
2022 $2,941 $14,300 $2,735 $11,565
2021 $2,875 $14,299 $2,735 $11,564
2020 $2,012 $9,030 $1,805 $7,225
2019 $1,987 $9,890 $1,805 $8,085
2018 $1,275 $9,890 $1,805 $8,085
2017 $1,126 $8,604 $1,586 $7,018
2016 $1,223 $8,604 $1,586 $7,018
2015 $1,096 $8,604 $1,586 $7,018
2014 $1,434 $10,298 $1,299 $8,999
2013 $1,395 $10,298 $1,299 $8,999
Source: Public Records

Agents Affiliated with this Home

  • Danielle Dowell

    Landlord's Agent in 2022

    Danielle Dowell

    Berkshire Hathaway HomeServices Chicago

    (312) 391-5655

    21 in this area

    592 Total Sales

    Danielle Dowell
    Section Image
  • Ayushi Kukreja

    Landlord's Co-Listing Agent in 2022

    Ayushi Kukreja

    @ Properties

    (847) 797-0200

    2 in this area

    60 Total Sales

    Ayushi Kukreja
    Section Image
  • Alexander Burke

    Tenant's Agent in 2022

    Alexander Burke

    Baird Warner

    (248) 840-6003

    1 in this area

    11 Total Sales

    Alexander Burke
    Section Image
  • An-An Ku

    Seller's Agent in 2018

    An-An Ku

    Urban Living Properties, LLC

    (630) 715-7392

    3 in this area

    114 Total Sales

    An-An Ku
    Section Image
  • Andy Sokol

    Buyer's Agent in 2018

    Andy Sokol

    The Sokol Group

    (708) 560-6862

    2 in this area

    67 Total Sales

    Andy Sokol
    Section Image

  • J

    Seller's Agent in 2017

    Jonathon Shaw

    Coldwell Banker Realty

    (312) 493-6734

    Jonathon Shaw
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11461981

Midwest Real Estate Data (MRED)

APN: 14-21-314-055-1038

Illinois Cook County Chicago 60657 Lakeview East

505 W Melrose St Unit 507, Chicago, IL

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