NOT LISTED FOR SALE

506 Silver Lake Ct Savoy, IL 61874

Estimated Value: $627,000 - $804,000

4 Beds
3.5 Baths
2,574 Sq Ft
$270/Sq Ft Est. Value

Last Sold September 06, 2022

Last sale price $639,000 $248 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $3,799/month

2 Days on Market

Highlights

  • New Construction
  • Deck
  • Wood Flooring
  • Central High School Rated A
  • Traditional Architecture
  • Porch

About This Home

As of September 2022

Quality Signature Construction Custom Floor Plan. Huge 1st Floor Owners Suite. Super Efficient Design includes HVAC & Water Heater, Low-E Windows, 2x6" Exterior Walls, Energy Star Appliances, Programmable Thermostat, R49 Ceiling Insulation & Air-Sealed Building Envelope.

Last Agent to Sell the Property

Phillip Trautman

Champaign County Realty License #471001829 Listed on: 07/20/2022

Co-Listed By

Bill Peifer

Champaign County Realty License #475163280

Last Buyer's Agent

Bill Peifer

Champaign County Realty License #475163280

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $14

Year Built

  • Built in 2022 | New Construction

Lot Details

  • 0.38 Acre Lot
  • Lot Dimensions are 133x170x120x120
  • Paved or Partially Paved Lot

HOA Fees

  • $17 Monthly HOA Fees

Parking

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

Home Design

  • Traditional Architecture
  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,574 Sq Ft Home
  • 1.5-Story Property
  • Gas Log Fireplace
  • ENERGY STAR Qualified Windows with Low Emissivity
  • Family Room
  • Living Room with Fireplace
  • Combination Kitchen and Dining Room
  • Storage Room
  • Laundry Room

Flooring

  • Wood
  • Laminate

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 5 Potential Bedrooms
  • Separate Shower

Finished Basement

  • Basement Fills Entire Space Under The House
  • Finished Basement Bathroom

Outdoor Features

  • Deck
  • Porch

Schools

  • Champaign Elementary School
  • Champaign Junior High School
  • Champaign High School

Utilities

  • Central Air
  • Heating System Uses Natural Gas
  • 200+ Amp Service

Home Details

Home Type

Single Family

Est. Annual Taxes

$14

Year Built

Built in 2022 | New Construction

Lot Details

0

HOA Fees

$17 per month

Parking

3

Listing Details

  • Property Type: Residential
  • Property Type: Detached Single
  • Type Detached: 1.5 Story
  • Ownership: Fee Simple
  • ArchitecturalStyle: Traditional
  • New Construction: Yes
  • Property Sub-Type: 1.5 Story
  • Year Built: 2022
  • Age: NEW Ready for Occupancy
  • Built Before 1978 (Y/N): No
  • Disability Access and/or Equipped: No
  • General Information: School Bus Service
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • New Construction Y/N: Yes
  • Legal Description: LOT 301 LAKE FALLS SUB PHASE 3 AND REPLAT OF LOT 141 LAKE FALLS SUB PHASE 1
  • ResoPropertyType: Residential
  • Special Features: NewHome
  • Property Sub Type: Detached

Interior Features

  • Basement: Full
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bathrooms: 4
  • Total Bedrooms: 4
  • Below Grade Finished Sq Ft: 1008
  • Fireplace Features: Gas Log
  • Fireplaces: 1
  • Interior Amenities: Hardwood Floors, Wood Laminate Floors
  • LivingArea: 2574
  • Room Type: Bedroom 5, Storage
  • Estimated Total Finished Sq Ft: 3582
  • Basement Description: Finished
  • Bathroom Amenities: Separate Shower
  • Basement Bathrooms: Yes
  • Below Grade Bedrooms: 1
  • Dining Room: Kitchen/Dining Combo
  • Total Sq Ft: 2574
  • Basement Sq Ft: 1704
  • Fireplace Location: Living Room
  • Total Sq Ft: 4278
  • Unfinished Basement Sq Ft: 696
  • Upper Level Sq Ft: 870
  • Main Level Sq Ft: 1704
  • Lower Level Sq Ft: 0
  • Window Features: ENERGY STAR Qualified Windows,Low Emissivity Windows
  • Unfinished Lower Sq Ft: 0
  • ResoLivingAreaSource: Builder

Exterior Features

  • ExteriorFeatures: Deck, Porch
  • Foundation Details: Concrete Perimeter
  • List Price: 634500
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Brick

Garage/Parking

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

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Electric: Circuit Breakers, 200+ Amp Service
  • Heating: Natural Gas, Electric
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee: 200
  • Association Fee Frequency: Annually
  • Community Features: Sidewalks, Street Paved
  • Master Association Fee Frequency: Not Required
  • ResoAssociationFeeFrequency: Annually

Fee Information

  • Association Fee Includes: None

Schools

  • Elementary School: Champaign Elementary School
  • High School: Champaign High School
  • Middle/Junior School: Champaign Junior High School
  • Middle/Junior School District: 4

Lot Info

  • Lot Size Acres: 0.38
  • Lot Dimensions: 133X170X120X120
  • Lot Size: .25-.49 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 22
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 15
  • Tax Year: 2021
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 20, 2022
Closed on
Aug 24, 2022
Sold by
Signature Construction Inc
Bought by
Nielsen Michael A and Nielsen Janet L
Seller's Agent
Phillip Trautman
Champaign County Realty
Buyer's Agent
Bill Peifer
Champaign County Realty
List Price
$634,500
Sold Price
$639,000
Premium/Discount to List
$4,500
0.71%
Current Estimated Value
$693,818

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$54,818
Avg. Annual Appreciation
2.81%
Original Mortgage
$634,500
Outstanding Balance
$607,274
Interest Rate
5.3%
Mortgage Type
New Conventional
Estimated Equity
$86,544

Purchase Details

Closed on
Dec 1, 2021
Sold by
Savoy Developers Inc
Bought by
Signature Construction Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,053,994
Interest Rate
3.22%
Mortgage Type
Construction
Source: Public Records

Range of Values:

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Average Value
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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
Nielsen Michael A -- --
Signature Construction Inc $99,000 Banner Ford Llp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Nielsen Michael A $634,500
Previous Owner Signature Construction Inc $1,053,994
Previous Owner Savoy Developers Inc $1,050,379
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/06/2022 09/06/22 Sold $639,000 +0.7% $248 / Sq Ft
07/23/2022 07/23/22 Pending -- -- --
07/22/2022 07/22/22 For Sale $634,500 -0.7% $247 / Sq Ft
07/21/2022 07/21/22 Off Market $639,000 -- --
07/20/2022 07/20/22 For Sale $634,500 -- $247 / 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 $14 $205,590 $32,970 $172,620
2023 $14 $190,890 $30,610 $160,280
2022 $14 $170 $170 $0
2021 $15 $160 $160 $0
2020 $15 $160 $160 $0
2019 $13 $160 $160 $0
2018 $13 $160 $160 $0
2017 $12 $150 $150 $0
2016 $0 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11468606

Midwest Real Estate Data (MRED)

APN: 292601483011