NOT LISTED FOR SALE

531 N Racine Ave Unit 5314 Chicago, IL 60642

West Town Neighborhood

Estimated Value: $503,000 - $566,000

2 Beds
2 Baths
1,600 Sq Ft
$100/mo HOA Fee

Last Sold April 12, 2023

Last sale price $478,500 $299 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $3,640/month

Highlights

  • Vaulted Ceiling
  • Forced Air Heating and Cooling System
  • Dogs and Cats Allowed
  • Wood Flooring
  • Dining Room
  • 3-minute walk to Mineral Wells City Park

About This Home

As of April 2023

Welcome to your dream home in the heart of West Town! This rarely available corner penthouse unit is situated in an incredible location, offering the best of urban living with easy access to everything Chicago has to offer. As you step inside, you'll be greeted with a stunning vaulted 12-foot ceiling in the living room, creating a bright and spacious ambiance. An abundance of windows in the living area ensures that the condo is bathed in plenty of natural light, giving it a warm and inviting feel. The open concept kitchen is complete with granite countertops, an oversized breakfast bar, and stainless steel appliances (including new refrigerator, 2022). There are large balconies on both the front and back, offering west and east-facing views as well as partial skyline views. To elevate your outdoor experience even further, this unit is sold with private roof rights, providing you the opportunity to create an urban oasis with expanded skyline views that include Willis Tower (requires building out access or entering through a roof hatch). Just minutes from the Blue Line and an array of fantastic restaurants and attractions in West Town and West Loop, with easy access to the highway. Low assessment fees and healthy reserves make this an ideal investment, unit comes with assigned parking space, in-unit washer and dryer, and fiber ready. The floors are freshly refinished as of 2023 to make this unit feel like home from the moment you move in. Don't miss this unique opportunity to own a piece of Chicago's coveted West Town neighborhood!

Last Agent to Sell the Property

Matthew Thomas

Baird & Warner License #475178603 Listed on: 03/20/2023

Baird & Warner

Last Buyer's Agent

Sunny Shah

Baird & Warner License #475159217

Baird & Warner

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $8,580

Year Built

  • Built in 2004

Lot Details

  • 3,223

HOA Fees

  • $100 Monthly HOA Fees

Home Design

  • Brick Exterior Construction
  • Rubber Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,600 Sq Ft Home
  • 4-Story Property
  • Vaulted Ceiling
  • Living Room with Fireplace
  • Dining Room
  • Wood Flooring
  • Laundry in unit

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Potential Bedrooms
  • 2 Full Bathrooms

Parking

  • 1 Parking Space
  • Uncovered Parking
  • Parking Included in Price

Utilities

  • Forced Air Heating and Cooling System
  • Lake Michigan Water

Community Details

Overview

  • 4 Units
  • Association Phone (847) 271-3905

Pet Policy

  • Dogs and Cats Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$8,580

Year Built

Built in 2004

Lot Details

0

HOA Fees

$100 per month

Listing Details

  • Property Type: Residential
  • Property Type: Attached Single
  • Type Attached: Condo
  • Ownership: Condo
  • New Construction: No
  • Property Sub-Type: Condo
  • Year Built: 2004
  • Age: 16-20 Years
  • Built Before 1978 (Y/N): No
  • Disability Access and/or Equipped: No
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Unit Floor Level: 4
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 4

Interior Features

  • Basement: None
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bedrooms: 2
  • Fireplaces: 1
  • Interior Amenities: Vaulted/Cathedral Ceilings, Hardwood Floors
  • LivingArea: 1600
  • Room Type: No additional rooms
  • Stories Total: 4
  • Estimated Total Finished Sq Ft: 0
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Total Sq Ft: 0
  • Fireplace Location: Living Room
  • Total Sq Ft: 0
  • ResoLivingAreaSource: Estimated

Exterior Features

  • Foundation Details: Concrete Perimeter
  • List Price: 460000
  • Roof: Rubber
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • ParkingTotal: 1
  • Number of Cars: 1
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Heating: Forced Air
  • Laundry Features: In Unit
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Pets Allowed: Cats OK, Dogs OK
  • Association Fee: 100
  • Association Fee Frequency: Monthly
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required
  • Management Company: Self
  • Management Contact Name: HOA
  • Management Phone: 847-271-3905
  • ResoAssociationFeeFrequency: Monthly

Fee Information

  • Association Fee Includes: Other

Schools

  • Middle/Junior School District: 299

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: COMMON
  • 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: 8580
  • Tax Year: 2021

Multi Family

  • Units in Building: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 20, 2023
Closed on
Apr 7, 2023
Sold by
Olson Greg and Olson Natalie
Bought by
Finn Colin M and Spazio Nicole Danielle
Seller's Agent
Matthew Thomas
Baird & Warner
Buyer's Agent
Sunny Shah
Baird & Warner
List Price
$460,000
Sold Price
$478,500
Premium/Discount to List
$18,500
4.02%
Views
13
Current Estimated Value
$531,414

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$52,914
Avg. Annual Appreciation
4.25%
Original Mortgage
$383,200
Outstanding Balance
$372,608
Interest Rate
6.63%
Mortgage Type
New Conventional
Estimated Equity
$158,806

Purchase Details

Closed on
Jun 9, 2009
Sold by
Jp Morgan Mortgage Acquisition Corp
Bought by
Olson Greg

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$245,025
Interest Rate
5.27%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 1, 2008
Sold by
Younan
Bought by
Homesales Inc

Purchase Details

Closed on
Nov 27, 2006
Sold by
Neronde Pamela
Bought by
Younan Rasmin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$307,300
Interest Rate
7.25%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 12, 2005
Sold by
Northside Community Bank
Bought by
Neronde Pamela

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$359,100
Interest Rate
6.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 30, 2005
Sold by
Prairie Bank & Trust Co
Bought by
Northside Community Bank and Trust #2501

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
6.55%
Mortgage Type
Unknown
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
Finn Colin M $479,000 None Listed On Document
Olson Greg $272,500 First American Title
Jp Morgan Acquisition Corp -- First American Title
Homesales Inc -- None Available
Younan Rasmin $439,000 None Available
Neronde Pamela $399,000 Gnt
Northside Community Bank -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Finn Colin M $383,200
Previous Owner Olson Greg $245,025
Previous Owner Younan Rasmin $307,300
Previous Owner Neronde Pamela $359,100
Previous Owner Northside Community Bank $900,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/12/2023 04/12/23 Sold $478,500 +4.0% $299 / Sq Ft
03/21/2023 03/21/23 Pending -- -- --
03/20/2023 03/20/23 For Sale $460,000 -- $288 / 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 $9,033 $47,907 $7,416 $40,491
2023 $8,758 $46,000 $3,384 $42,616
2022 $8,758 $46,000 $3,384 $42,616
2021 $8,580 $46,000 $3,384 $42,616
2020 $9,217 $44,477 $3,384 $41,093
2019 $9,152 $48,980 $3,384 $45,596
2018 $8,997 $48,980 $3,384 $45,596
2017 $7,269 $37,143 $2,986 $34,157
2016 $6,939 $37,143 $2,986 $34,157
2015 $6,326 $37,143 $2,986 $34,157
2014 $4,368 $26,111 $2,538 $23,573
2013 $4,271 $26,111 $2,538 $23,573
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11740767

Midwest Real Estate Data (MRED)

APN: 17-08-237-043-1004