NOT LISTED FOR SALE

702 Lake Falls Blvd Savoy, IL 61874

Estimated Value: $642,000 - $773,000

4 Beds
3.5 Baths
3,044 Sq Ft
$239/Sq Ft Est. Value

Last Sold October 14, 2022

Last sale price $650,000 $214 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $5,060/month

1 Day on Market

Highlights

  • Multiple Garages
  • Community Lake
  • Property is near a park
  • Central High School Rated A
  • Deck
  • Recreation Room

About This Home

As of October 2022

Outstanding opportunity to "Own the home that was built for the builder"! Very impressive, custom designed 4500sqft home with spectacular curb appeal, prominently positioned on one of the largest lots in Lake Falls Subdivision! Way beyond a showcase home...this is a tremendous amount of property with upgrades & extras that would cost a fortune with current build costs. Massive covered brick/stone front porch with lovely custom made front door. Spacious entry with soaring two story ceilings, with a stunning staircase, 9ft. ceilings and 8ft. doors. Gorgeous beamed ceilings, crown molding & built in's through out. Professionally painted interior and high-end new carpet just installed. Wonderful layout...with both open spaces and private places to enjoy. The main level includes a convenient office bonus room and separate formal dining room off of the foyer. Large open concept living room with all new top-quality, all custom made ceiling height cabinetry/center island. Gorgeous granite counters & upscale built in stainless appliances, walk in pantry & utility room w/direct access to the garage. The second level has an amazing 17 x 15 master suite with, walk in closet, large, custom tiled shower, whirlpool tub & 12ft long vanity. 2nd full bath to service the 3 oversized bedrooms, each with their own walk in closets. Fully finished daylight basement has enormous 28 x 21 rec room, 20 x 20 home gym, the 5th bedroom, 4th full bath, a kitchenette with the cabinetry/counters finishes & huge storage area. Beautifully landscaped, large corner lot is enclosed with a maintenance free, black metal fence, has a beautiful pergola, a Trex deck, plus an expansive, stamped stone patio/fire pit/grilling area. Perfect for outdoor entertaining & family gatherings. Extremely well built, with 2x12 floor joists & 2x6 walls, added insulation, Dual Zoned HVAC with 17 seer AC, and even an air exchanger that will allow you to bring outside air in and remove the humidity. The garage has enough space to easily fit 4 cars plus more room for bikes, tools, and toys. Two driveways means off street parking for another 6 cars. Sought after Lake Falls Subd. with easy access to the University/shopping & low Savoy taxes. Beautifully appointed. Impeccable condition. You will NOT be disappointed with this one...Call to schedule your private showing today!

Last Agent to Sell the Property

Diane Dawson

RE/MAX REALTY ASSOCIATES-CHA License #475126019 Listed on: 07/01/2022

RE/MAX REALTY ASSOCIATES-CHA

Last Buyer's Agent

Lisa Rector

KELLER WILLIAMS-TREC License #475146101

KELLER WILLIAMS-TREC

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $12,887

Year Built

  • Built in 2013

Lot Details

  • 0.42 Acre Lot
  • Lot Dimensions are 189.58 x 73.63 x 148.22 x 125
  • Corner Lot
  • Paved or Partially Paved Lot

HOA Fees

  • $19 Monthly HOA Fees

Parking

  • 4.5 Car Attached Garage
  • Multiple Garages
  • Garage Transmitter
  • Garage Door Opener
  • Driveway
  • Parking Included in Price

Home Design

  • Traditional Architecture
  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,044 Sq Ft Home
  • 2-Story Property
  • Entrance Foyer
  • Family Room
  • Living Room with Fireplace
  • Formal Dining Room
  • Home Office
  • Recreation Room
  • First Floor Utility Room
  • Storage Room
  • Home Gym

Kitchen

  • Built-In Oven
  • Gas Cooktop
  • Microwave
  • High End Refrigerator
  • Dishwasher
  • Stainless Steel Appliances
  • Disposal

Flooring

  • Carpet
  • Porcelain Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 6 Potential Bedrooms
  • Walk-In Closet

Laundry

  • Laundry Room
  • Dryer
  • Washer

Finished Basement

  • Basement Fills Entire Space Under The House
  • Finished Basement Bathroom

Outdoor Features

  • Deck
  • Stamped Concrete Patio
  • Fire Pit
  • Pergola
  • Outdoor Grill
  • Porch

Schools

  • Unit 4 Of Choice Elementary School
  • Champaign/Middle Call Unit 4 351
  • Central High School

Utilities

  • Zoned Heating and Cooling
  • SEER Rated 14+ Air Conditioning Units
  • Heating System Uses Natural Gas
  • 200+ Amp Service

Additional Features

  • Air Exchanger
  • Property is near a park

Community Details

  • Lake Falls Subdivision
  • Community Lake

Listing and Financial Details

  • Homeowner Tax Exemptions

Home Details

Home Type

Single Family

Est. Annual Taxes

$12,887

Year Built

Built in 2013

Lot Details

0

HOA Fees

$19 per month

Parking

4

Listing Details

  • Property Type: Residential
  • Property Type: Detached Single
  • Type Detached: 2 Stories
  • Ownership: Fee Simple
  • ArchitecturalStyle: Traditional
  • New Construction: No
  • Property Sub-Type: 2 Stories
  • Subdivision Name: Lake Falls
  • Year Built: 2013
  • Age: 6-10 Years
  • Built Before 1978 (Y/N): No
  • Disability Access and/or Equipped: No
  • General Information: School Bus Service,Commuter Bus
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • New Construction Y/N: No
  • Legal Description: LOT 112 LAKE FALLS SUB PHASE 1
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Microwave, Dishwasher, High End Refrigerator, Washer, Dryer, Disposal, Stainless Steel Appliance(s), Cooktop, Built-In Oven, Gas Cooktop, Wall Oven
  • Basement: Full
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bathrooms: 4
  • Total Bedrooms: 4
  • Below Grade Finished Sq Ft: 1067
  • Fireplaces: 1
  • LivingArea: 3044
  • Other Equipment: Air Exchanger
  • Room Type: Bedroom 5, Office, Foyer, Bedroom 5, Recreation Room, Walk In Closet, Utility Room-1st Floor, Storage, Walk In Closet, Exercise Room
  • Estimated Total Finished Sq Ft: 4111
  • Basement Description: Finished
  • Basement Bathrooms: Yes
  • Below Grade Bedrooms: 2
  • Dining Room: Separate
  • Total Sq Ft: 3044
  • Basement Sq Ft: 1457
  • Fireplace Location: Living Room
  • Total Sq Ft: 4501
  • Unfinished Basement Sq Ft: 390
  • Upper Level Sq Ft: 1490
  • Main Level Sq Ft: 1554
  • Lower Level Sq Ft: 0
  • Unfinished Lower Sq Ft: 0
  • Flooring: Carpet
  • ResoLivingAreaSource: Estimated

Exterior Features

  • ExteriorFeatures: Deck, Patio, Porch, Stamped Concrete Patio, Outdoor Grill, Fire Pit
  • Foundation Details: Concrete Perimeter
  • List Price: 638500
  • Lot Features: Corner Lot
  • OtherStructures: Pergola
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Brick,Shakes,Stone

Garage/Parking

  • Garage Spaces: 4.5
  • Parking Features: Driveway
  • ParkingTotal: 8
  • Number of Cars: 12.5
  • Driveway: Concrete
  • Garage Details: Garage Door Opener(s),Transmitter(s),Multiple Garages
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Attached
  • Parking: Garage,Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air, Zoned, Dual, High Efficiency (SEER 14+)
  • Electric: 200+ Amp Service
  • Heating: Natural Gas, Electric
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee: 225
  • Association Fee Frequency: Annually
  • Community Features: Park, Lake, Curbs, Sidewalks, Street Lights, Street Paved
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required
  • ResoAssociationFeeFrequency: Annually

Fee Information

  • Association Fee Includes: None

Schools

  • Elementary School: Unit 4 Of Choice
  • High School: Central High School
  • Middle/Junior School: Champaign/Middle Call Unit 4 351
  • Middle/Junior School District: 4

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.4225
  • Lot Dimensions: 189.58 X 73.63 X 148.22 X 125
  • Rural (Y/N): N
  • Lot Size: .25-.49 Acre
  • Special Assessments: N
  • Zero Lot Line: No

Rental Info

  • Board Number: 22
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 12886.56
  • Tax Year: 2021
  • Tax Exemptions: Homeowner

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 1, 2022
Closed on
Sep 26, 2022
Sold by
Brown Matthew and Brown Patricia
Bought by
Zora Michael J and Zora Marcy J
Seller's Agent
Diane Dawson
RE/MAX REALTY ASSOCIATES-CHA
Buyer's Agent
Lisa Rector
KELLER WILLIAMS-TREC
List Price
$638,500
Sold Price
$650,000
Premium/Discount to List
$11,500
1.8%
Current Estimated Value
$705,159

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$55,159
Avg. Annual Appreciation
2.56%
Original Mortgage
$520,000
Outstanding Balance
$455,674
Interest Rate
4.98%
Mortgage Type
New Conventional
Estimated Equity
$242,825

Purchase Details

Listed on
May 29, 2021
Closed on
Jul 14, 2021
Sold by
Demos James C and Demos Stpehanie J
Bought by
Brown Matthew and Brown Patricia
Seller's Agent
Tim Hoss
RE/MAX Choice
Buyer's Agent
Nate Evans
eXp Realty-Mahomet
List Price
$625,000
Sold Price
$625,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.19%

Purchase Details

Closed on
Jul 18, 2012
Sold by
Savoy Developers Inc
Bought by
Demos James C and Demos Stephanie J
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
Zora Michael J $650,000 --
Brown Matthew $625,000 Act
Demos James C $76,000 Firts Community Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Zora Michael J $520,000
Previous Owner Demos James C $100,000
Previous Owner Demos James Christopher $198,475
Previous Owner Demos James C $240,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/14/2022 10/14/22 Sold $650,000 +1.8% $214 / Sq Ft
07/03/2022 07/03/22 Pending -- -- --
07/01/2022 07/01/22 For Sale $638,500 +2.2% $210 / Sq Ft
07/14/2021 07/14/21 Sold $625,000 0.0% $236 / Sq Ft
05/30/2021 05/30/21 Pending -- -- --
05/29/2021 05/29/21 For Sale $625,000 -- $236 / 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 $14,391 $202,640 $35,780 $166,860
2023 $14,391 $188,150 $33,220 $154,930
2022 $13,653 $174,860 $30,870 $143,990
2021 $12,887 $165,900 $29,290 $136,610
2020 $12,634 $162,170 $28,630 $133,540
2019 $12,256 $159,930 $28,230 $131,700
2018 $12,227 $159,930 $28,230 $131,700
2017 $11,732 $153,040 $27,010 $126,030
2016 $10,160 $146,310 $25,820 $120,490
2015 $10,046 $141,090 $24,900 $116,190
2014 $10,607 $143,380 $25,300 $118,080
2013 $10 $140 $140 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11447571

Midwest Real Estate Data (MRED)

APN: 29-26-01-480-012