840 W College Blvd Addison, IL 60101
9
Beds
6
Baths
4,950
Sq Ft
3,485
Sq Ft Lot
About This Home
As of December 20216-Flat Multi-family investment in Addison with great return on investment. Highly rentable area. 100% occupied - Fully Rented! 3 units are 1 Bed/1 Bath and 3 units are 2 Bed/1 Bath. Tenants pay their own electricity. "OTHER EXPENSES" include $720/year for exterminator, Laundry equipment rental $490/year and association $3240/year.The association handles all lawn care and snow removal and the trash, so association fee is reasonable. Note regarding insurance: This owner chose to get an upgraded insurance policy, but new owner could lower their insurance cost a lot by having the more basic policy that other owners have in this area. Leased coin laundry in the building provides additional revenue. Units are all in good working order. May be purchased with 832 College (MLS #11227769), for a package deal! Excellent reliable steady cash flow! Make an offer today!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,679
Year Built
- Built in 1974
Lot Details
- 3,485 Sq Ft Lot
Parking
- 6 to 12 Parking Spaces
Home Design
- Brick Exterior Construction
Interior Spaces
- 4,950 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 9 Bedrooms
- 6 Bathrooms
Utilities
- Cooling System Mounted In Outer Wall Opening
- Hot Water Heating System
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- Association fees include parking, lawn care, scavenger, snow removal
- 6 Units
Building Details
- Electric Expense $365
- Fuel Expense $2,996
- Insurance Expense $3,200
- Other Expense $4,450
- Water Sewer Expense $5,729
- Operating Expense $30,905
- Gross Income $5,925
- Net Operating Income $41,695
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 23, 2021
Closed on
Dec 14, 2021
Sold by
Yogeshwar Assets Llc
Bought by
Cooper Capital Investments Llc
Seller's Agent
Lexie Lyons
Executive Realty Group LLC
Buyer's Agent
John Greco
G Real Estate Co.
List Price
$625,000
Sold Price
$625,000
Total Days on Market
29
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$184,000
Avg. Annual Appreciation
7.94%
Original Mortgage
$937,500
Outstanding Balance
$869,409
Interest Rate
3.12%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
-$58,409
Purchase Details
Listed on
Apr 17, 2017
Closed on
Jan 16, 2018
Sold by
Joje Properties Llc
Bought by
Dream Big Real Estate Llc
Seller's Agent
Peter Dravilas
PreferredCo Realty & Investments
Buyer's Agent
Peter Dravilas
PreferredCo Realty & Investments
List Price
$475,000
Sold Price
$450,000
Premium/Discount to List
-$25,000
-5.26%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.67%
Original Mortgage
$360,000
Interest Rate
4.7%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 11, 2014
Sold by
Almendralejo Socaris and Almendralejo Ellen Grace S
Bought by
Joje Properties Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$965,000
Interest Rate
4.85%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 15, 2009
Sold by
Vargas Marcelino and Vargas Elisa
Bought by
Almendralejo Socaris and Almendralejo Ellen Grace S
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,250
Interest Rate
6.25%
Mortgage Type
Commercial
Purchase Details
Closed on
Sep 20, 1999
Sold by
Siddiqui Muneem and Siddiqui Ayesha
Bought by
Vargas Marcelino and Vargas Elisa
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$202,400
Interest Rate
4.84%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 22, 1996
Sold by
Pagsanjan Sotero S and Pagsanjan Erlinda E
Bought by
Siddiqui Muneem and Siddiqui Ayesha
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$152,800
Interest Rate
7.64%
Mortgage Type
Commercial
Map
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Similar Home in Addison, IL
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $625,000 | Chicago Title | |
| Warranty Deed | $450,000 | Chicago Title | |
| Warranty Deed | -- | Ctic | |
| Warranty Deed | $395,000 | First American Title Ins Co | |
| Warranty Deed | $253,000 | -- | |
| Warranty Deed | $191,000 | Attorneys Natl Title Network |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $937,500 | Purchase Money Mortgage | |
| Previous Owner | $360,000 | Commercial | |
| Previous Owner | $965,000 | Commercial | |
| Previous Owner | $245,000 | Commercial | |
| Previous Owner | $296,250 | Commercial | |
| Previous Owner | $240,000 | Commercial | |
| Previous Owner | $221,000 | Commercial | |
| Previous Owner | $202,400 | Commercial | |
| Previous Owner | $152,800 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/30/2021 12/30/21 | Sold | $625,000 | 0.0% | $126 / Sq Ft |
| 10/23/2021 10/23/21 | Pending | -- | -- | -- |
| 09/23/2021 09/23/21 | For Sale | $625,000 | +19.0% | $126 / Sq Ft |
| 05/08/2020 05/08/20 | Sold | $525,000 | 0.0% | -- |
| 02/18/2020 02/18/20 | Pending | -- | -- | -- |
| 01/08/2020 01/08/20 | For Sale | $525,000 | +16.7% | -- |
| 01/18/2018 01/18/18 | Sold | $450,000 | -5.3% | -- |
| 09/15/2017 09/15/17 | Pending | -- | -- | -- |
| 09/13/2017 09/13/17 | For Sale | $475,000 | 0.0% | -- |
| 08/03/2017 08/03/17 | Pending | -- | -- | -- |
| 08/02/2017 08/02/17 | For Sale | $475,000 | 0.0% | -- |
| 05/12/2017 05/12/17 | Pending | -- | -- | -- |
| 04/17/2017 04/17/17 | For Sale | $475,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
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 |
|---|---|---|---|---|
| 2023 | $22,707 | $229,500 | $10,820 | $218,680 |
| 2022 | $16,948 | $162,780 | $9,450 | $153,330 |
| 2021 | $16,084 | $150,000 | $8,980 | $141,020 |
| 2020 | $15,679 | $150,000 | $8,760 | $141,240 |
| 2019 | $15,689 | $150,000 | $8,420 | $141,580 |
| 2018 | $14,165 | $124,810 | $35,030 | $89,780 |
| 2017 | $13,525 | $115,680 | $32,470 | $83,210 |
| 2016 | $13,001 | $107,060 | $30,050 | $77,010 |
| 2015 | $12,824 | $99,900 | $28,040 | $71,860 |
| 2014 | $12,480 | $96,700 | $27,140 | $69,560 |
| 2013 | $14,889 | $118,790 | $28,070 | $90,720 |
Source: Public Records
Source: Midwest Real Estate Data (MRED)
MLS Number: 11227772
APN: 02-24-102-028
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