Seller's Agent in 2023
John Warren
Forte Properties, Inc.
(847) 894-2433
1 in this area
262 Total Sales
910 Westmoreland Dr Vernon Hills, IL 60061
Estimated Value: $1,127,000 - $1,203,000
12
Beds
8
Baths
--
Sq Ft
44
Sq Ft Lot
About This Home
As of January 2023910 Westmoreland Drive is an 8-unit apartment property located in the northern suburb of Vernon Hills. The eight (8) units in this property consist of four (4) 1Bed/1Bath and four (4) 2Bed/1.5Bath apartments. Furthermore, the property includes a large parking lot adjacent to the building. Each unit is allowed two parking spaces which are selected on a first-come, first-served basis. The Property is part of a Homeowner's Association (HOA) which covers all utilities (except tenants' electricity), insurance, landscaping, snow removal, plumbing, roof, building mechanicals, and exterior maintenance. The HOA provides a very low maintenance "armchair" investment opportunity due to the limited maintenance requirements outside the purview of the HOA. With rents approximately 10% below market, acquiring this property provides investors with great upside with limited to no additional work. The location of this property is in a comfortable pocket of Vernon Hills that provides convenient access to interstates I-294 and I-94. The Vernon Hills Metra station is under two miles from the property, allowing accessibility to Chicago's Union Station. Additionally, the village's largest mall, Hawthorne Mall, is undergoing a redevelopment that will provide townspeople with improved shopping and dining options, green spaces, and high-quality residences. The combination of dining, retail, education, and safety tie into creating this aspired neighborhood.
Last Agent to Sell the Property
Forte Properties, Inc. License #471020680 Listed on: 10/11/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $19,932
Year Built
- Built in 1974
Lot Details
- 44
Home Design
- Garden Apartment
Bedrooms and Bathrooms
- 12 Bedrooms
- 8 Bathrooms
Additional Features
- 2-Story Property
- Lot Dimensions are 75x100
- Heating System Uses Gas
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 8 Units
Building Details
- Maintenance Expense $2,800
- Manager Expense $5,532
- Other Expense $32,736
- Operating Expense $71,926
- Gross Income $115,440
- Net Operating Income $38,532
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 11, 2022
Closed on
Jan 18, 2023
Sold by
Roman Kowal and Roman Maria Kowal
Bought by
Ganesan Rajeev and Pillai Seema
Seller's Agent
John Warren
Forte Properties, Inc.
Buyer's Agent
Renchi Varghese
Achieve Real Estate Group Inc
List Price
$900,000
Sold Price
$800,000
Premium/Discount to List
-$100,000
-11.11%
Views
67
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
$366,032
Avg. Annual Appreciation
14.63%
Original Mortgage
$600,000
Outstanding Balance
$478,431
Interest Rate
7%
Mortgage Type
Credit Line Revolving
Estimated Equity
$687,601
Purchase Details
Closed on
Jun 2, 2022
Sold by
Caterina Urso Trust
Bought by
Roman Kowal And Maria Kowal Joint Tenancy Tru
Purchase Details
Closed on
Jun 20, 2019
Sold by
Urso Caterina
Bought by
Urso Caterina and Caterina Urso Trust
Purchase Details
Closed on
Jun 15, 2018
Sold by
Chicago Title Land Trust Co
Bought by
Tenanc Roman and Tenanc Maria
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Ganesan Rajeev | $800,000 | -- | |
| Roman Kowal And Maria Kowal Joint Tenancy Tru | -- | None Listed On Document | |
| Urso Caterina | -- | Attorney | |
| Tenanc Roman | -- | Chicago Title Land Trust Com |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Ganesan Rajeev | $600,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/24/2023 01/24/23 | Sold | $800,000 | -11.1% | -- |
| 11/07/2022 11/07/22 | Pending | -- | -- | -- |
| 10/11/2022 10/11/22 | For Sale | $900,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $24,881 | $266,882 | $57,991 | $208,891 |
| 2023 | $20,622 | $251,823 | $54,719 | $197,104 |
| 2022 | $20,622 | $209,037 | $45,422 | $163,615 |
| 2021 | $19,932 | $206,783 | $44,932 | $161,851 |
| 2020 | $19,497 | $207,488 | $45,085 | $162,403 |
| 2019 | $18,978 | $206,723 | $44,919 | $161,804 |
| 2018 | $17,760 | $199,136 | $43,270 | $155,866 |
| 2017 | $17,523 | $194,488 | $42,260 | $152,228 |
| 2016 | $16,922 | $186,237 | $40,467 | $145,770 |
| 2015 | $16,665 | $174,167 | $37,844 | $136,323 |
| 2014 | $17,059 | $176,479 | $38,346 | $138,133 |
| 2012 | $17,049 | $176,833 | $38,423 | $138,410 |
Source: Public Records
Agents Affiliated with this Home
-
John Warren
-
Renchi Varghese
Buyer's Agent in 2023
Renchi Varghese
Achieve Real Estate Group Inc
(847) 845-7361
2 in this area
42 Total Sales
-
Danny Ritter
Buyer Co-Listing Agent in 2023
Danny Ritter
Third Coast Realty LLC
(305) 405-0615
1 in this area
26 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11649711
APN: 15-07-200-030
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