NOT LISTED FOR SALE

555 Roddy Rd Salem, IL 62881

-- Bed
-- Bath
22,528 Sq Ft
274,428 Sq Ft

Last Sold July 29, 2024

Last sale price $2,025,000 $90 Per Sq Ft

10 Days on Market

About This Home

As of July 2024

Very well maintained turn key operation 34 unit apartment buildings in 3 buildings. 22 (1) bedroom (1) bath units. 12 (2) bedroom (1.5) bath apartments. 12 storage units (14x22) leased out. Ample parking. A&B buildings have common areas with coin operated washer & dryers. Currently full capacity. Also included is vacant land zoned commercial for more buildings. Lots of updates including windows in 2020, metal roof in 2010. Extra income of 12 storage units and the coin operated washer & dryers in the common areas.

Last Agent to Sell the Property

Mike Hammond

Equity Realty Group License #471020760 Listed on: 04/05/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,762

Year Built

  • Built in 1979

Lot Details

  • 6.3 Acre Lot

Home Design

  • 22,528 Sq Ft Home
  • Brick Exterior Construction
  • Metal Roof
  • Concrete Perimeter Foundation

Utilities

  • Forced Air Heating and Cooling System
  • Separate Meters

Listing and Financial Details

  • Tenant pays for sewer

Community Details

Overview

  • 34 Units

Building Details

  • Electric Expense $5,160
  • Operating Expense $23,458
  • Gross Income $150

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,762

Year Built

Built in 1979

Lot Details

6.3 Acres

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Year Built: 1979
  • Legal Description: Lamplighter Manor sub lots 1,2,10 & 11 & 3-9 Miller Roddy Sub Div W 60 ft lot 6
  • Information: No Sign on Property,Othr-Call List Agent
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Dishwashers: 34
  • Refrigerators: 34
  • Ranges: 34

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • Frontage Type: Paved
  • Roof: Metal

Utilities

  • Cooling: Central Air
  • Electric: Separate Meters
  • Heat/Ventilation: Electric,Forced Air

Lot Info

  • Lot Size Acres: 6.3
  • Lot Dimensions: Irregular
  • Zoning: Multi
  • Property Offered: For Sale Only

Rental Info

  • Tenant Pays: Sewer

Building Info

  • BuildingAreaTotal: 22528

Multi Family

  • Net Operating Income: -46070
  • ElectricExpense: 5160
  • GrossIncome: 150
  • NumberOfUnitsTotal: 34
  • OperatingExpense: 23458

Tax Info

  • Tax Annual Amount: 22762
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/18/2024 10/18/24 For Rent $850 0.0% --
10/08/2024 10/08/24 Off Market $850 -- --
10/08/2024 10/08/24 Off Market $850 -- --
10/04/2024 10/04/24 For Rent $850 0.0% --
07/29/2024 07/29/24 Sold $2,025,000 +6.0% $90 / Sq Ft
04/15/2024 04/15/24 Pending -- -- --
04/05/2024 04/05/24 For Sale $1,910,000 -- $85 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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 $21,547 $292,410 $13,670 $278,740
2023 $22,215 $280,590 $20,090 $260,500
2022 $21,565 $255,080 $18,260 $236,820
2021 $21,147 $238,400 $17,070 $221,330
2020 $20,888 $236,580 $16,940 $219,640
2019 $20,589 $227,920 $16,320 $211,600
2018 $20,638 $227,920 $16,320 $211,600
2017 $20,443 $223,450 $16,000 $207,450
2016 $20,133 $210,800 $15,090 $195,710
2015 $192 $210,800 $15,090 $195,710
2012 $187 $206,640 $14,790 $191,850
Source: Public Records

Agents Affiliated with this Home

  • Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: EB452886

Midwest Real Estate Data (MRED)
Your Personal Tour Guide

Ask me questions while you tour the home.