NOT LISTED FOR SALE
8 Beds
9 Baths
-- Sq Ft
1971 Built

Last Sold April 05, 2024

Last sale price $600,000

Highlights

  • Property is near park
  • Corner Lot
  • Intercom
  • Palatine High School Rated A
  • First Floor Utility Room
  • Shed

About This Home

As of April 2024

RARE- FULLY LEASED, ALL BRICK 3 FLAT BLD. 2 UNITS W/3 BEDROOMS & 2 BATHS AND 1 UNIT W/2 BEDROOMS & 2 BATHS. ALL 3 UNITS HAVE MASTER BATH. ALL UNITS HAVE THEIR OWN FURNACE, A/C, WASHER AND DRYER. TENANTS PAY FOR GAS HEAT & ELECTRIC SERVICE. ONSITE 4 TO 6-CAR PARKING IN THE REAR PLUS AMPLE STREET PARKING. WATER HEATERS AGE APPROX. 3 YEARS, 1-FURNANCE APPROX 5 YEARS OLD, CONVENIENT LOCATION RIGHT BY SHOPPING, RESTAURANTS AND PARKS. ACCESS TO RT 53. AWARD-WINNING SCHOOLS. LONG TIME TENNATS -BELOW MARKET RENTS .....GREAT UPSIDE TO INCREASE FUTURE PROFITS. PROPERTY BEING*** SOLD "AS IS"***.

Last Agent to Sell the Property

Michael Bischoff

Baird & Warner License #475124661 Listed on: 03/15/2024

Baird & Warner

Last Buyer's Agent

Michael Bischoff

Baird & Warner License #475124661 Listed on: 03/15/2024

Baird & Warner

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,678

Year Built

  • Built in 1971

Lot Details

  • Lot Dimensions are 49 x 117
  • Corner Lot
  • Paved or Partially Paved Lot

Home Design

  • Brick Exterior Construction
  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • First Floor Utility Room
  • Intercom

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 9 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Alley Access
  • Side or Rear Entrance to Parking
  • Parking Lot
  • Off Alley Parking
  • Parking Included in Price
  • Unassigned Parking

Schools

  • Palatine High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Lake Michigan Water

Additional Features

  • Shed
  • Property is near park

Community Details

Overview

  • 3 Units
  • 3 Flat

Building Details

  • Electric Expense $1,200
  • Insurance Expense $1,950
  • Maintenance Expense $250
  • Trash Expense $603
  • Water Sewer Expense $1,088
  • Gross Income $52,200
  • Net Operating Income $35,378

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,678

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1971
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Commuter Bus,Commuter Train,Interstate Access
  • 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: 9
  • Total Bedrooms: 8
  • Other Equipment: Intercom, Ceiling Fan(s)
  • Room Type: Utility Room-1st Floor
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0

Exterior Features

  • ExteriorFeatures: Other
  • Foundation Details: Concrete Perimeter
  • Lot Features: Corner Lot
  • OtherStructures: Shed(s)
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • OpenParkingSpaces: 4
  • Parking Features: Unassigned, Off Alley, Alley Access, Parking Lot, Rear/Side Entry
  • ParkingTotal: 4
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

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

Condo/Co-op/Association

  • Community Features: Park, Curbs, Sidewalks, Street Lights, Street Paved

Fee Information

  • Trash Expense: 603
  • Water Sewer Expenses: 1088
  • Other Expenses $: 500
  • Trash Expense Year: 2023

Schools

  • High School: Palatine High School

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 49 X 117
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 2
  • Is Parking Included in Price: Yes

Multi Family

  • Net Operating Income: 35378
  • Insurance Expense: 1950
  • ElectricExpense: 1200
  • GrossIncome: 52200
  • Maintenance Expense: 250
  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 3 Flat

Tax Info

  • Tax Annual Amount: 12678
  • Tax Year: 2021
  • Tax Exemptions: None
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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
04/05/2024 04/05/24 Sold $600,000 -4.0% --
03/16/2024 03/16/24 Pending -- -- --
03/15/2024 03/15/24 For Sale $625,000 -- --
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
2025 $14,765 $63,000 $4,350 $58,650
2024 $14,765 $49,872 $3,770 $46,102
2023 $14,284 $49,872 $3,770 $46,102
2022 $14,284 $49,872 $3,770 $46,102
2021 $12,678 $39,036 $3,190 $35,846
2020 $12,489 $39,036 $3,190 $35,846
2019 $12,972 $45,233 $3,190 $42,043
2018 $11,149 $35,876 $2,900 $32,976
2017 $10,938 $35,876 $2,900 $32,976
2016 $10,752 $37,921 $2,900 $35,021
2015 $9,195 $29,926 $2,610 $27,316
2014 $9,083 $29,926 $2,610 $27,316
2013 $7,169 $29,926 $2,610 $27,316
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11999087

Midwest Real Estate Data (MRED)