M
Seller's Agent in 2022
Mary Hager-Swanson
Swanson Real Estate
(847) 502-7587
3 in this area
33 Total Sales
7 Lynch St Elgin, IL 60123
Near West Elgin NeighborhoodEstimated Value: $287,000 - $355,000
1
Bed
4
Baths
--
Sq Ft
8,625
Sq Ft Lot
Highlights
- Backs to Trees or Woods
- Lower Floor Utility Room
- Paved or Partially Paved Lot
- Farmhouse Style Home
- 2 Car Detached Garage
About This Home
As of November 2022Low maintenance 4-unit consisting of (3) studio units and (1) one bedroom unit. Additional income from garage and laundry. Long term tenants, with the longest living in this building for 8 years. Rents are below market which makes this a great investment as current cap rate is about 7%. Quiet location. Current owner is installing fence along south side of parking log and will be complete prior to closing. Easy to show.
Last Agent to Sell the Property
Swanson Real Estate License #471003655 Listed on: 08/25/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,518
Year Built
- Built in 1963
Lot Details
- Lot Dimensions are 66 x 127
- Paved or Partially Paved Lot
- Backs to Trees or Woods
Parking
- 2 Car Detached Garage
- Side or Rear Entrance to Parking
- Additional Parking
- Parking Lot
- Parking Included in Price
Home Design
- Farmhouse Style Home
- Asphalt Roof
- Aluminum Siding
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Potential Bedroom
- 4 Bathrooms
- Separate Shower
Schools
- Washington Elementary School
- Abbott Middle School
- Larkin High School
Additional Features
- Lower Floor Utility Room
- Heating System Uses Natural Gas
Community Details
Overview
- 4 Units
Building Details
- Electric Expense $265
- Fuel Expense $1,465
- Insurance Expense $1,586
- Water Sewer Expense $3,023
- Gross Income $37,550
- Net Operating Income $24,543
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Oct 1, 2024
Sold by
Kalabsa Anthony
Bought by
Chicago Title Land Trust
Current Estimated Value
Purchase Details
Listed on
Aug 25, 2022
Closed on
Nov 14, 2022
Sold by
Kofsky Mitchell S
Bought by
Kalabsa Anthony
Seller's Agent
Mary Hager-Swanson
Swanson Real Estate
Buyer's Agent
John Weideman
Piche Partners
List Price
$329,900
Sold Price
$320,000
Premium/Discount to List
-$9,900
-3%
Views
14
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.70%
Original Mortgage
$327,360
Interest Rate
6.94%
Mortgage Type
VA
Purchase Details
Closed on
Feb 1, 2018
Sold by
Fnbc Bank And Trust
Bought by
Kofsky Mitchell S
Purchase Details
Closed on
Nov 13, 2013
Sold by
Kofsky Mitchell S
Bought by
State Bank Of Illinois and Trust #1-1374
Purchase Details
Closed on
Jan 5, 2005
Sold by
Williams Robert S and Williams Patricia K
Bought by
Kofsky Mitchell S
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$196,000
Interest Rate
6%
Mortgage Type
Purchase Money Mortgage
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
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Chicago Title Land Trust | $319,500 | Chicago Title | |
| Chicago Title Land Trust | $319,500 | Chicago Title | |
| Kalabsa Anthony | $320,000 | Chicago Title | |
| Kofsky Mitchell S | -- | Attorney | |
| State Bank Of Illinois | -- | None Available | |
| Kofsky Mitchell S | $225,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Kalabsa Anthony | $327,360 | |
| Previous Owner | Kofsky Mitchell S | $196,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/14/2022 11/14/22 | Sold | $320,000 | 0.0% | -- |
| 10/07/2022 10/07/22 | Pending | -- | -- | -- |
| 09/30/2022 09/30/22 | Price Changed | $319,900 | -3.0% | -- |
| 08/25/2022 08/25/22 | For Sale | $329,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $7,592 | $94,863 | $16,705 | $78,158 |
| 2023 | $7,306 | $85,702 | $15,092 | $70,610 |
| 2022 | $6,776 | $78,145 | $13,761 | $64,384 |
| 2021 | $6,518 | $73,060 | $12,866 | $60,194 |
| 2020 | $6,361 | $69,747 | $12,283 | $57,464 |
| 2019 | $6,205 | $66,438 | $11,700 | $54,738 |
| 2018 | $6,188 | $62,589 | $11,022 | $51,567 |
| 2017 | $6,086 | $59,169 | $10,420 | $48,749 |
| 2016 | $5,854 | $54,893 | $9,667 | $45,226 |
| 2015 | -- | $50,315 | $8,861 | $41,454 |
| 2014 | -- | $49,694 | $8,752 | $40,942 |
| 2013 | -- | $51,005 | $8,983 | $42,022 |
Source: Public Records
Agents Affiliated with this Home
-
Mary Hager-Swanson
-
John Weideman
Buyer's Agent in 2022
John Weideman
Piche Partners
(312) 885-0321
1 in this area
63 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11613769
APN: 06-14-404-010
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