NOT LISTED FOR SALE

7224 Park Ave Summit, IL 60501

Summit Area
7 Beds
4 Baths
-- Sq Ft
-- Built

Sale Details

Date Sold: April 28, 2025

Last sale price $450,000

7 Days on Market

About This Home

As of April 2025

4-Unit Building in Summit, IL - A Rare Opportunity! Well-maintained, this property offers excellent rental potential with each unit featuring comfortable living spaces and a shared washer/dryer. Ac window units and central heat. Conveniently located near shops, schools, restaurants, and public transportation, it's perfect for investors or owner-occupants. Exterior parking included. Whether you're looking to renovate or maintain as-is, this property fits any investment strategy. Schedule your showing today!

Last Agent to Sell the Property

Karina Hiselman

Berkshire Hathaway HomeServices Starck Real Estate License #475160708 Listed on: 02/04/2025

Berkshire Hathaway HomeServices Starck Real Estate

Last Buyer's Agent

Karina Hiselman

Berkshire Hathaway HomeServices Starck Real Estate License #475160708 Listed on: 02/04/2025

Berkshire Hathaway HomeServices Starck Real Estate
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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,700

Parking

  • 4 Parking Spaces

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 4 Bathrooms

Lot Details

  • Lot Dimensions are 25x125

Schools

  • Argo Community High School

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

  • 4 Units

Listing and Financial Details

  • Homeowner Tax Exemptions

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,700

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 7
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • AppliancesAndFeatures: Stove,Refrigerator

Exterior Features

  • Construction Materials: Brick
  • Waterfront: No

Garage/Parking

  • ParkingTotal: 4

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan, Public

Schools

  • High School: Argo Community High School

Lot Info

  • Lot Dimensions: 25X125
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 3
  • TenantPays: Electric,Gas

Tax Info

  • Tax Annual Amount: 9699.94
  • Tax Year: 2023
  • Tax Exemptions: Homeowner

Multi Family

  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Flat

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 4, 2025
Closed on
Apr 23, 2025
Sold by
Bought by
Seller's Agent
Karina Hiselman
Berkshire Hathaway HomeServices Starck Real Estate
Buyer's Agent
Karina Hiselman
Berkshire Hathaway HomeServices Starck Real Estate
List Price
$399,900
Sold Price
$450,000
Premium/Discount to List
$50,100
12.53%
Views
284

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$427,500
Outstanding Balance
$422,643
Interest Rate
7.25%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 2, 2018
Sold by
Bought by

Purchase Details

Closed on
Apr 5, 2011
Sold by
Bought by

Purchase Details

Closed on
May 3, 2010
Sold by
Bought by

Purchase Details

Closed on
Dec 14, 2006
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$286,000
Interest Rate
6.24%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 23, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$283,500
Interest Rate
6.87%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 20, 2004
Sold by
Bought by

Purchase Details

Closed on
Dec 27, 2003
Sold by
Bought by

Purchase Details

Closed on
Jun 12, 2003
Sold by
Bought by

Purchase Details

Closed on
Dec 7, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$22,265
Interest Rate
9.5%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jun 30, 1999
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$143,900
Interest Rate
7.75%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Summit, IL

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$450,000 None Listed On Document
-- None Available
$66,000 Attorneys Title Guaranty Fun
-- None Available
-- Nat
$315,000 Attorneys Title Guaranty Fun
-- --
-- Cti
-- --
-- --
$160,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $427,500
Previous Owner $286,000
Closed $283,500
Previous Owner $22,265
Previous Owner $143,900
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/28/2025 04/28/25 Sold $450,000 0.0% --
02/11/2025 02/11/25 Pending -- -- --
02/10/2025 02/10/25 Off Market $450,000 -- --
02/04/2025 02/04/25 For Sale $399,900 -- --
Source: Midwest Real Estate Data (MRED)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $9,700 $31,000 $2,784 $28,216
2024 $9,700 $31,000 $2,784 $28,216
2023 $7,167 $31,000 $2,784 $28,216
2022 $7,167 $20,033 $2,400 $17,633
2021 $4,910 $20,033 $2,400 $17,633
2020 $9,459 $20,033 $2,400 $17,633
2019 $9,459 $24,681 $2,208 $22,473
2018 $0 $24,681 $2,208 $22,473
2017 $9,459 $24,681 $2,208 $22,473
2016 $6,878 $17,061 $1,920 $15,141
2015 $6,608 $17,061 $1,920 $15,141
2014 $6,492 $17,061 $1,920 $15,141
2013 $6,352 $18,422 $1,920 $16,502
Source: Public Records

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12283506

Midwest Real Estate Data (MRED)
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