$339,900
PENDING $10K PRICE DROP

516 Madison Ln Elgin, IL 60123

Estimated payment $2,655/month

Total Views 56,994
2 Beds
2.5 Baths
1,783 Sq Ft
$191 Price per Sq Ft

Highlights

  • Open Floorplan
  • Loft
  • Stainless Steel Appliances
  • Deck
  • Breakfast Room
  • Soaking Tub

About This Home

Move right into this beautifully maintained and updated townhome featuring 2 bedrooms, 2.5 bathrooms, and a spacious loft that can easily be converted into a third bedroom. The soaring ceilings and open-concept layout create a bright and airy atmosphere, seamlessly connecting the living room with cozy fireplace, dining area, eat-in space, and kitchen-perfect for both entertaining and everyday living. You'll love the luxury vinyl flooring, updated bathrooms, and the primary suite complete with a walk-in closet and private ensuite bath. The full unfinished basement offers endless possibilities to add additional living space or create your dream rec room. Enjoy the convenience of a 2-car garage and a location that's equidistant to Route 20 and I-90 for easy commuting. Just minutes to all the shopping, dining, and amenities along Randall Road-this one truly has it all and won't last long!

Listing Agent

Christy Alwin

Redfin Corporation License #471005185 Listed on: 07/03/2025

Redfin Corporation

Townhouse Details

Home Type

  • Townhome

Est. Annual Taxes

  • $6,512

Year Built

  • Built in 2005

HOA Fees

  • $260 Monthly HOA Fees

Parking

  • 2 Car Garage
  • Driveway
  • Parking Included in Price

Home Design

  • Brick Exterior Construction
  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,783 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Ceiling Fan
  • Gas Log Fireplace
  • Blinds
  • Entrance Foyer
  • Family Room
  • Living Room with Fireplace
  • Combination Dining and Living Room
  • Breakfast Room
  • Loft
  • Laminate Flooring

Kitchen

  • Range
  • Microwave
  • Stainless Steel Appliances

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Potential Bedrooms
  • Walk-In Closet
  • Dual Sinks
  • Soaking Tub
  • Separate Shower

Laundry

  • Laundry Room
  • Dryer
  • Washer

Basement

  • Basement Fills Entire Space Under The House
  • Sump Pump

Schools

  • Creekside Elementary School
  • Kimball Middle School
  • Larkin High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas

Additional Features

  • Deck
  • Lot Dimensions are 26x88

Listing and Financial Details

  • Homeowner Tax Exemptions

Community Details

Overview

  • Association fees include insurance, exterior maintenance, lawn care, snow removal
  • 5 Units
  • Gordy Lewis Association, Phone Number (847) 209-7002
  • Madison Homes Subdivision, Birch Floorplan
  • Property managed by Madison Homes HOA

Amenities

  • Common Area

Pet Policy

  • Dogs and Cats Allowed

Townhouse Details

Home Type

Townhome

Est. Annual Taxes

$6,512

Year Built

Built in 2005

Lot Details

0

HOA Fees

$260 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Property Type: Attached Single
  • Type Attached: Townhouse-2 Story
  • Ownership: Fee Simple w/ HO Assn.
  • EntryLevel: 1
  • New Construction: No
  • Property Sub-Type: Townhouse-2 Story
  • Subdivision Name: Madison Homes
  • Year Built: 2005
  • Age: 16-20 Years
  • Built Before 1978 (Y/N): No
  • Disability Access and/or Equipped: No
  • General Information: Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Special Features: None
  • Property Sub Type: Townhouses
  • Stories: 2

Interior Features

  • Appliances: Range, Microwave, Washer, Dryer, Stainless Steel Appliance(s)
  • Basement: Unfinished, Full
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Total Bathrooms: 3
  • Total Bedrooms: 2
  • Fireplace Features: Gas Log
  • Fireplaces: 1
  • Flooring: Laminate
  • Interior Amenities: Vaulted Ceiling(s), Cathedral Ceiling(s), Walk-In Closet(s), Open Floorplan
  • LivingArea: 1783
  • Other Equipment: Ceiling Fan(s), Sump Pump
  • Room Type: Loft, Breakfast Room, Walk In Closet, Foyer
  • Stories Total: 2
  • Estimated Total Finished Sq Ft: 0
  • Bathroom Amenities: Separate Shower,Double Sink,Soaking Tub
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Dining Room: Combined w/ LivRm
  • Total Sq Ft: 0
  • Fireplace Location: Living Room
  • Total Sq Ft: 0
  • Door Features: Sliding Doors,6 Panel Door(s),Sliding Glass Door(s)
  • Window Features: Blinds
  • Flooring: Wood Laminate

Exterior Features

  • Construction Materials: Aluminum Siding, Brick
  • Foundation Details: Concrete Perimeter
  • List Price: 339900
  • Lot Features: Common Grounds
  • OtherStructures: None
  • Patio And Porch Features: Deck
  • Roof: Asphalt
  • Waterfront: No

Garage/Parking

  • Garage Spaces: 2
  • Parking Features: Asphalt, Garage Door Opener, On Site, Garage Owned, Attached, Garage
  • ParkingTotal: 2

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Electric: Circuit Breakers
  • Heating: Natural Gas, Forced Air
  • Laundry Features: Main Level, Washer Hookup, In Unit
  • Water Source: Public

Condo/Co-op/Association

  • Pets Allowed: Cats OK, Dogs OK
  • Association Fee: 260
  • Association Fee Frequency: Monthly
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required
  • Management Company: Madison Homes HOA
  • Management Contact Name: Gordy Lewis
  • Management Phone: 847-209-7002

Fee Information

  • Association Fee Includes: Insurance, Exterior Maintenance, Lawn Care, Snow Removal

Schools

  • Elementary School: Creekside Elementary School
  • High School: Larkin High School
  • Middle/Junior School: Kimball Middle School
  • Middle/Junior School District: 46

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 26X88
  • Rural (Y/N): N
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Pets Allowed (Y/N): Yes
  • Is Parking Included in Price: Yes
  • Max Pet Weight: 999

Tax Info

  • Tax Annual Amount: 6511.54
  • Tax Year: 2023
  • Tax Exemptions: Homeowner

Multi Family

  • Units in Building: 5

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $6,835 $93,407 $26,007 $67,400
2023 $6,512 $84,386 $23,495 $60,891
2022 $6,152 $76,945 $21,423 $55,522
2021 $5,883 $71,938 $20,029 $51,909
2020 $5,716 $68,676 $19,121 $49,555
2019 $5,549 $65,418 $18,214 $47,204
2018 $5,935 $66,034 $17,159 $48,875
2017 $5,804 $62,425 $16,221 $46,204
2016 $5,537 $57,914 $15,049 $42,865
2015 -- $53,084 $13,794 $39,290
2014 -- $45,979 $13,624 $32,355
2013 -- $47,191 $13,983 $33,208
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/25/2025 07/25/25 Pending -- -- --
07/15/2025 07/15/25 Price Changed $339,900 -2.9% $191 / Sq Ft
07/03/2025 07/03/25 For Sale $349,900 -- $196 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $217,500 Attorneys Title Guaranty Fun
Deed $227,500 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $14,550 FHA
Open $32,377 FHA
Open $213,560 FHA
Previous Owner $227,400 Purchase Money Mortgage
Source: Public Records

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Source: Midwest Real Estate Data (MRED)

MLS Number: 12407605

Midwest Real Estate Data (MRED)

APN: 06-09-376-035