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Lake Forest 60045 Newell's Reserve
1077 Melody Road
$1,275,000
● House - Off Market

1077 Melody Road

Lake Forest, IL 60045
bedrooms
6 Beds
bathrooms
6 Baths, 1 Half Bath
square feet
6,744 Ft²
$1,516,204
RealtyHop Estimate
4.64%
Since Nov 1, 2022
National-US
Primary Model

About This Property

This private Lake Forest home is Nearly 7,000 square feet and sits on 2 acres of tranquil paradise complete with an in ground pool, pavilion and a writer/artist cabin. Indoors features 3 levels of living with 6 bedrooms, 5.5 bathrooms, Chef's Kitchen with dual oven, island and under-mount lighting. Soaring ceilings with skylights, sunroom, basement with rec room, butlers pantry and upstairs that can be converted to a grand master suite with massive walk in closet. Be sure to check out the 3D Matterport Tour and Drone Video to appreciate all the intricate details of this beautiful home and outdoor oasis.
Unit Size
6,744 Ft²
Days on Market
-
Land Size
1.84 acres
Price per sqft
$215
Property Type
House
Property Taxes
$2,216
HOA Dues
-
Year Built
1987

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (MRED MLS #11493444)

Price History

Date / Event Date Event Price
Oct 11, 2022 Sold
Premium
Sold
Aug 16, 2022 Listed by Guidance Realty $1,449,000
Listed by Guidance Realty

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1987
  • Effective Year Built: 1987
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 4
  • Full Bathrooms: 4
  • Partial Bathrooms: 4
  • Bathroom Plumbing Fixtures: 17
  • Building Condition: 6
  • Building Quality: 1
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 13
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,706
  • Garage Type: 1
  • Garage Square Area: 878
  • Parking Space Count: 3
  • Patio Type: 3
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 79,998
  • Total Building Area: 7,622
  • Gross Building Area: 7,622
  • Building Area: 5,038
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 5,038
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DIEU FORET SUB
  • Land Acres: 0000001837
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: DIEU FORET SUB; LT3 LOT 3

Neighborhood

  • School District Name: Lake Forest Community High School District 115
  • Census Tract: 863500

Geography

  • Assessors Map Reference: 2649-B4
  • District: SHIELDS
  • Parcel: 12-31-408-005
  • Lot: 3
  • Municipality: TWP OF SHIELDS
  • Latitude: 42.2432
  • Longitude: -87.8737

    Address

  • Full Address: 1077 Melody Rd
  • Address - House Number: 1077
  • Address - Street Name: Melody
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Lake Forest
  • Carrier Code: C023
  • 4-Digit Zip Code: 1547
  • Zip Code: 60045

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $2,735,300
  • Tax Rate Code Area: 10014

    Appraisal Valuation

  • Standard Deviation: 0.2342
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 67
  • Final Value: 1,365,000
  • High Value: 1,684,738
  • Low Value: 1,045,262

    Market Valuation

  • Market Total Value: $1,388,686
  • Market Land Value: $438,401
  • Market Improvement Value: $950,285

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $462,849
  • Assessed Land Value: $146,119
  • Assessed Improvements Value: $316,730

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Oct 05, 2022
  • Current Sale Recording Date: Oct 27, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 7941088
  • Previous Sale Recording Date: Jun 05, 1995
  • Previous Sale Contract Date: Apr 27, 1995
  • Previous Sale Amount: $840,000
  • Previous Sale Document Type: 69
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Newell's Reserve

Stats & Trends

Median Asking:

$0

Sale Price/ft²

$0

Above Asking

0.00%

Average Days on Market

0

Average Home Size

0 ft²

Average Home Age

2026 years

Currently For Sale

0 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 1111 S Waukegan Road S, Lake Forest, IL, 60045

$2,900 /mo

  • 3 Beds
  • 2 Baths
  • 2,025 ft²
1111 S Waukegan Road S #14, Lake Forest, IL, 60045 Listing by Pam Devendorf

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Syed Hashmi, Guidance Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 11493444
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 1077 Melody Road built and last sold?
The property at 1077 Melody Road was built in 1987 and last sold on Oct 5, 2022 for $1,275,000.
How much is this home worth?
The estimated value of the home located at 1077 Melody Road is $1,463,490.
What are some comparable homes to 1077 Melody Road?
There are currently no comparable homes to 1077 Melody Road.
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