Seller's Agent in 2024
Damon Heim
COLDWELL BANKER NETWORK REALTY
(815) 266-2427
460 in this area
486 Total Sales
609 S Prospect St Galena, IL 61036
Estimated Value: $537,000 - $738,000
Studio
--
Bath
4,743
Sq Ft
$129/Sq Ft
Est. Value
Highlights
- Enclosed Patio or Porch
- Brick or Stone Mason
- Hot Water Heating System
- Galena Primary School Rated A-
- Air Conditioning
- Washer and Dryer
About This Home
As of October 2024The best of both worlds combining income possibilities from long term and short-term rental! Stately brick apartment building housing 5 total 1 bed, 1 bath units that exudes historic charm and incredible curb appeal sited just minutes from vibrant Main Street, Galena and packaged with an absolutely charming 2 bed, 2 bath detached Coach House with coveted short term rental license. Originally a grand Galena single family residence many of the units have a touch of yesteryear that varies and includes period wood flooring, arched accents, detailed period woodwork, and gorgeous decorative fireplace surrounds (fireplaces are inoperable). Washer and dryer in each unit for total convenience, and Window A/C. Make your way to the Coach House to find a fully renovated brick cottage-style home mixing modern finishes and historic beauty plus multi-level addition that offers open kitchen and living room, second floor bedroom suite with nicely appointed private bath, laundry room, secondary living room with access to elevated patio, and third level with additional suite and gorgeous private bath. Coach House is approximately 1280 square feet, has gas forced air furnace and central A/C, and concrete drive with ample guest parking (6-person total occupancy). No off-street parking for apartment building but driveway with parking for short term rental Coach House. Utility info and maintenance expenses approximate and for 2022 year. Coach House gross rental for 2022 was over $38,000 and is professionally managed. Some expense exists if purchaser continues with current program. Total square footage noted does not include the 1280 square feet of Coach House. **Please note that units in the apartment building cannot be rented on a short term/nightly basis. Only the Coach House portion carries licensing for short term rental. **Please Note: Purchase price of $350,000. allocated to tax ID 22-100-674-00 & purchase price of $265,000. allocated to tax ID 22-100-674-03 for combined total purchase price of $615,000.
Last Agent to Sell the Property
COLDWELL BANKER NETWORK REALTY License #471000758 Listed on: 04/23/2024
Last Buyer's Agent
COLDWELL BANKER NETWORK REALTY License #471000758 Listed on: 04/23/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,954
Year Built
- Built in 1900
Lot Details
- 0.3
Parking
- 2 Car Parking Spaces
Home Design
- Brick or Stone Mason
- Shingle Roof
- Rubber Roof
- Siding
Interior Spaces
- 4,743 Sq Ft Home
- 3-Story Property
- Partial Basement
Kitchen
- Oven
- Stove
- Range
Laundry
- Laundry in unit
- Washer and Dryer
Outdoor Features
- Enclosed Patio or Porch
Schools
- Galena Elementary And Middle School
- Galena High School
Utilities
- Air Conditioning
- Window Unit Cooling System
- Hot Water Heating System
- Heating System Uses Gas
- Heating System Uses Natural Gas
- Separate Meters
- Electric Water Heater
Community Details
- 5 Units
- 3-Story Building
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 23, 2024
Closed on
Oct 25, 2024
Sold by
Martin Anthony P
Bought by
Yates Jeremy A
Seller's Agent
Damon Heim
COLDWELL BANKER NETWORK REALTY
Buyer's Agent
Damon Heim
COLDWELL BANKER NETWORK REALTY
List Price
$725,000
Sold Price
$615,000
Premium/Discount to List
-$110,000
-15.17%
Views
53
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$4,515
Avg. Annual Appreciation
-0.52%
Original Mortgage
$492,000
Outstanding Balance
$479,570
Interest Rate
0.64%
Mortgage Type
Construction
Estimated Equity
$130,915
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Yates Jeremy A | $615,000 | Security First Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Yates Jeremy A | $492,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/25/2024 10/25/24 | Sold | $615,000 | -8.9% | $130 / Sq Ft |
| 09/06/2024 09/06/24 | Pending | -- | -- | -- |
| 08/21/2024 08/21/24 | Price Changed | $675,000 | -6.9% | $142 / Sq Ft |
| 04/23/2024 04/23/24 | For Sale | $725,000 | -- | $153 / Sq Ft |
Source: NorthWest Illinois Alliance of REALTORS®
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 | $8,963 | $116,230 | $4,000 | $112,230 |
| 2023 | $9,379 | $119,088 | $3,946 | $115,142 |
| 2022 | $9,379 | $98,994 | $3,330 | $95,664 |
| 2021 | $7,825 | $91,197 | $3,068 | $88,129 |
| 2020 | $7,478 | $84,669 | $2,848 | $81,821 |
| 2019 | $7,465 | $85,062 | $2,848 | $82,214 |
| 2018 | $7,499 | $87,521 | $2,930 | $84,591 |
| 2017 | $7,184 | $85,337 | $2,857 | $82,480 |
| 2016 | $7,029 | $85,337 | $2,857 | $82,480 |
| 2015 | $6,808 | $82,203 | $2,857 | $79,346 |
| 2014 | $6,489 | $82,203 | $2,857 | $79,346 |
Source: Public Records
Agents Affiliated with this Home
-
Damon Heim
Map
Source: NorthWest Illinois Alliance of REALTORS®
MLS Number: 202401902
APN: 22-100-674-00
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