$363,000
SOLD DEC 20, 2024

824 E Ridgely Ave Springfield, IL 62702

-- Bed
-- Bath
4,500 Sq Ft
9,104 Sq Ft Lot

Recently Sold

$81 Per Sq Ft

77% Above List Price

4 Days on Market

Highlights

  • Forced Air Heating System
  • Level Lot
  • Wood Siding

About This Home

As of December 2024

This 4,500 square foot, six-unit apartment building offers an outstanding investment opportunity with a variety of recent upgrades. The building itself has undergone significant updating including a new roof & all-new siding in 2021. Five of the six units have been fully renovated since 2021, with updates like multiple new HVAC systems & water heaters. One unit is intentionally vacant and was just remodeled, making it ready to show & rent. The sale also includes an additional parcel to the west, with the potential to rebuild another six-unit structure on the site where a previous building stood. Prospective buyers should explore grant programs that may support this rebuilding opportunity, adding further value to the property. This is an ideal opportunity for investors looking for a property with minimal initial maintenance and significant growth potential. Do Not Disturb Tenants. Only the vacant unit can be shown.

Last Agent to Sell the Property

Kyle Killebrew

The Real Estate Group, Inc. Brokerage Phone: 217-741-4040 License #475109198 Listed on: 10/04/2024

The Real Estate Group, Inc.

Last Buyer's Agent

Rick Wiese

Keller Williams Capital License #475206457

Keller Williams Capital

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,927

Year Built

  • Built in 1993

Lot Details

  • Lot Dimensions are 150 x 61
  • Level Lot

Home Design

  • Shingle Roof
  • Wood Siding

Interior Spaces

  • 4,500 Sq Ft Home
  • Crawl Space

Parking

  • 6 Parking Spaces
  • Assigned Parking

Schools

  • Springfield District #186 High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for gas & electric, water
  • Assessor Parcel Number 14-22.0-401-019

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,927

Year Built

Built in 1993

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Property Sub Type: Residential Income
  • Year Built: 1993
  • New Construction: No
  • Structure Type: Apartment Building
  • PricePerSqFt: 80.67
  • Attribution Contact: Mobl: 217-741-4040
  • Special Features: None

Interior Features

  • Basement: Crawl Space

Exterior Features

  • Lot Features: Level
  • Road Surface Type: Paved
  • Construction Type: Wood Siding
  • Roof: Shingle
  • 100YearPlain: Unknown

Garage/Parking

  • Parking Features: Assigned
  • Total Parking Spaces: 6

Utilities

  • Heating: Forced Air, Gas, Central Air
  • Water Sewer Expenses: 2520
  • Laundry Features: None
  • Water Source: Public Sewer, Public
  • GasExpense: 0
  • NumberOfWaterHeaters: 6
  • NumberOfHeatingUnits: 6
  • NumberOfCentralAirUnits: 6
  • NumberOfGasMeters: 6
  • NumberOfElectricMeters: 6
  • NumberofWaterMeters: 1
  • NumberOfRanges: 6
  • NumberofRefrigerators: 6

Condo/Co-op/Association

  • Senior Community: No
  • LawnSnowRemoval: 0

Fee Information

  • AdvertisingExpense: 0

Schools

  • High School: Springfield District #186

Lot Info

  • Lot Size: 150 x 61
  • Additional Parcels Description: 14220401003
  • Parcel #: 14-22.0-401-019

Rental Info

  • Tenant Pays: Gas & Electric, Water
  • Lease Term: Variable

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 5867
  • TaxExemptions: None

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 55283
  • Resident Manager Expense: 3870
  • Annual Operating Expense: 12852

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 4, 2024
Closed on
Dec 20, 2024
Sold by
Rbs Investments Llc
Bought by
Kksers79 Investments Llc
Seller's Agent
Kyle Killebrew
The Real Estate Group, Inc.
Buyer's Agent
Rick Wiese
Keller Williams Capital
List Price
$205,000
Sold Price
$363,000
Premium/Discount to List
$158,000
77.07%
Total Days on Market
4
Views
28

Purchase Details

Closed on
Oct 28, 2022
Sold by
Capital City Investments Llc Series 1
Bought by
Rbs Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
5.21%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 28, 2021
Closed on
Mar 18, 2021
Sold by
Smart Choice Homes Llc Series A
Bought by
Capital City Investments Llc S
Seller's Agent
Kyle Killebrew
The Real Estate Group, Inc.
Buyer's Agent
Kyle Killebrew
The Real Estate Group, Inc.
List Price
$205,000
Sold Price
$205,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,833
Interest Rate
3.75%
Mortgage Type
Construction

Purchase Details

Closed on
Oct 1, 2007

Purchase Details

Closed on
Oct 31, 2006

Purchase Details

Closed on
Oct 9, 1997
Source: Public Records

Range of Values:

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Average Value
Not Available
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 Type Sale Price Title Company
Warranty Deed $363,000 None Listed On Document
Quit Claim Deed -- --
Warranty Deed $205,000 Cornerstone Title
Deed -- --
Deed -- --
Deed $293,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $210,000 New Conventional
Previous Owner $171,833 Construction
Previous Owner $100,000,000 Credit Line Revolving
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2024 12/20/24 Sold $363,000 -1.9% $81 / Sq Ft
10/08/2024 10/08/24 Pending -- -- --
10/04/2024 10/04/24 Price Changed $370,000 +80.5% $82 / Sq Ft
10/04/2024 10/04/24 For Sale $205,000 0.0% $46 / Sq Ft
03/18/2021 03/18/21 Sold $205,000 0.0% $74 / Sq Ft
01/28/2021 01/28/21 Pending -- -- --
01/28/2021 01/28/21 For Sale $205,000 -- $74 / Sq Ft
Source: RMLS Alliance

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 $6,927 $82,470 $7,232 $75,238
2023 $5,867 $66,363 $6,606 $59,757
2022 $5,446 $60,770 $6,266 $54,504
2021 $5,265 $58,494 $6,031 $52,463
2020 $5,160 $58,582 $6,040 $52,542
2019 $5,065 $58,378 $6,019 $52,359
2018 $5,487 $64,944 $6,000 $58,944
2017 $5,374 $64,104 $5,922 $58,182
2016 $5,268 $63,169 $5,836 $57,333
2015 $5,217 $62,414 $5,766 $56,648
2014 $5,139 $62,011 $5,729 $56,282
2013 $5,024 $62,011 $5,729 $56,282
Source: Public Records

Agents Affiliated with this Home

  • Kyle Killebrew

    Seller's Agent in 2024

    Kyle Killebrew

    The Real Estate Group, Inc.

    (217) 321-8146

    2,065 Total Sales

    Kyle Killebrew
    Section Image
  • Rick Wiese

    Buyer's Agent in 2024

    Rick Wiese

    Keller Williams Capital

    (217) 415-0111

    2 Total Sales

    Rick Wiese
    Section Image
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Map

Source: RMLS Alliance

MLS Number: CA1032325

RMLS Alliance

APN: 14-22.0-401-019

Illinois Sangamon County Springfield 62702

824 E Ridgely Ave, Springfield, IL

This home is located at 824 E Ridgely Ave, Springfield, IL 62702 and is currently priced at $363,000, approximately $80 per square foot. This property was built in 1993. 824 E Ridgely Ave is a home located in Sangamon County with nearby schools including Ridgely Elementary School, Washington Middle School, and Lanphier High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

RMLS Alliance IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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