NOT LISTED FOR SALE

531 Pasadena Ave Crest Hill, IL 60403

Estimated Value: $601,258

11 Beds
6 Baths
-- Sq Ft
0.25 Acres

Last Sold August 23, 2023

Last sale price $700,000

Est. 14% decrease in value since last sale

Current estimated payment $4,070/month

23 Days on Market

About This Home

As of August 2023

Strong cash-flowing, solid brick 6-unit building in Crest Hill, IL. The building features 3 levels of apartments with (5) 2-beds and (1) 1-bed and is all electric meaning lower operating expenses versus other comparable builds. The property contains 12 parking spaces. The units themselves are in exceptionally good condition versus similar buildings in the surrounding areas. Gross income has the potential to be raised from the current $81,300 to the market rent annual income of $94,200.

Last Agent to Sell the Property

Robert Rixer

Citypoint Illinois LLC License #471021887 Listed on: 06/13/2023

Last Buyer's Agent

Joey Batliner

Listing Leaders Northwest, Inc License #475205754

Listing Leaders Northwest, Inc

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,732

Year Built

  • Built in 1976

Lot Details

  • 0.25

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 6 Bathrooms

Additional Features

  • 3-Story Property
  • Baseboard Heating

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $480
  • Insurance Expense $3,600
  • Other Expense $1,632
  • Trash Expense $1,080
  • Water Sewer Expense $3,000
  • Operating Expense $27,084
  • Gross Income $22,524
  • Net Operating Income $52,116

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,732

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1976
  • Built Before 1978 (Y/N): Yes
  • Information: Other-See Remarks
  • Estimated Age: 36-50 Years
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 11
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 775000

Utilities

  • Heat/Ventilation: Electric,Baseboard

Fee Information

  • Trash Expense: 1080
  • Water Sewer Expenses: 3000
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: LESS THAN .25 ACRES

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 10

Multi Family

  • Net Operating Income: 52116
  • Insurance Expense: 3600
  • ElectricExpense: 480
  • GrossIncome: 22524
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 27084
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 9732
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 13, 2023
Closed on
Aug 17, 2023
Sold by
531 Pasadena Ave Llc and 609 Pasadena Ave Llc
Bought by
Anb Properties Llc
Seller's Agent
Robert Rixer
Citypoint Illinois LLC
Buyer's Agent
Joey Batliner
Listing Leaders Northwest, Inc
List Price
$775,000
Sold Price
$700,000
Premium/Discount to List
-$75,000
-9.68%
Views
54
Current Estimated Value
$601,258

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$98,742
Original Mortgage
$1,400,000
Outstanding Balance
$879,515
Interest Rate
7.51%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
May 26, 2023
Sold by
Ignacio Chavez Revocable Trust and Argelia Chavez Revocable Trust
Bought by
531 Pasadena Ave Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
6.43%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jun 27, 2017
Sold by
Chavez Ignacio
Bought by
Chavez Ignacio and Ignacio Chavez Revocable Trust

Purchase Details

Closed on
Nov 13, 2009
Sold by
Pasadena Apartments Llc
Bought by
Chavez Ignacio

Purchase Details

Closed on
Sep 16, 2003
Sold by
Chavez Ignacio and Chavez Argelia
Bought by
Pasadena Apartments Llc

Purchase Details

Closed on
May 19, 1997
Sold by
First Midwest Trust Company Natl Assn
Bought by
Chavez Ignacio and Chavez Argelia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$249,000
Interest Rate
9%

Purchase Details

Closed on
Mar 12, 1992
Sold by
Simonic Ronald M and Simonic Roberta A
Bought by
First Midwest Trust Company Natl Assn
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
Anb Properties Llc $1,400,000 None Listed On Document
531 Pasadena Ave Llc $600,000 Fidelity National Title
Chavez Ignacio -- Attorney
Chavez Ignacio -- None Available
Pasadena Apartments Llc -- --
Chavez Ignacio $264,500 --
First Midwest Trust Company Natl Assn -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Anb Properties Llc $1,400,000
Previous Owner 531 Pasadena Ave Llc $450,000
Previous Owner Chavez Ignacio $249,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/23/2023 08/23/23 Sold $700,000 -9.7% --
07/07/2023 07/07/23 Pending -- -- --
06/13/2023 06/13/23 For Sale $775,000 -- --
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 $10,594 $134,727 $27,803 $106,924
2023 $10,594 $120,951 $24,960 $95,991
2022 $10,128 $111,220 $22,952 $88,268
2021 $9,592 $111,220 $22,952 $88,268
2020 $9,732 $111,220 $22,952 $88,268
2019 $9,769 $111,220 $22,952 $88,268
2018 $9,514 $105,512 $21,774 $83,738
2017 $9,774 $105,512 $21,774 $83,738
2016 $9,752 $105,512 $21,774 $83,738
2015 -- $105,512 $21,774 $83,738
2014 -- $97,696 $20,161 $77,535
2013 -- $97,696 $20,161 $77,535
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2023

    Robert Rixer

    Citypoint Illinois LLC

    (312) 983-0519

    3 in this area

    17 Total Sales

    Robert Rixer
    Section Image
  • Joey Batliner

    Buyer's Agent in 2023

    Joey Batliner

    Listing Leaders Northwest, Inc

    (224) 401-9152

    2 in this area

    10 Total Sales

    Joey Batliner
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11807072

Midwest Real Estate Data (MRED)

APN: 11-04-33-104-044

Illinois Will County Crest Hill 60403

531 Pasadena Ave, Crest Hill, IL

This home is located at 531 Pasadena Ave, Crest Hill, IL 60403 since 13 June 2023 and is currently priced at $601,258. This property was built in 1976. 531 Pasadena Ave is a home located in Will County with nearby schools including Chaney Elementary School, Lockport Township High School East, and Joliet Montessori School.

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