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Elgin 60123 Northwest Elgin
1418 Illinois Parkway
$250,000
● House - Off Market

1418 Illinois Parkway

Elgin, IL 60123
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,455 Ft²
$1,608
Est. Monthly
10.65%
Cap Rate

About This Property

Come and see this great ranch style home in Elgin on a dead end street. This cute one level ranch home features 3 bedrooms and 2 full baths, large sun filled livingroom with vaulted ceiling, separate dinning room, and mud/laundry room. The master bedroom has a full bath with stand up shower. Home as been freshly painted inside and out, new carpet, and brand new furnace and A/C. Huge driveway off back alleyway can fit 6 plus cars. Great location just minutes to Randall Rd shopping, parks, schools, I90 and Metra.
Unit Size
1,455 Ft²
Days on Market
-
Land Size
-
Price per sqft
$172
Property Type
House
Property Taxes
$380
HOA Dues
-
Year Built
1940

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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 #11933700)

Price History

Date / Event Date Event Price
Dec 29, 2023 Sold
Premium
Sold
Nov 18, 2023 Listed by Inspire Realty Group LLC $250,000
Listed by Inspire Realty Group LLC

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1940
  • Effective Year Built: 1940
  • Building Count: 1
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Business/Commerical Units Count: 2
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,720
  • Lot Size Depth Feet: 1,060
  • Lot Size Frontage Feet: 1,200
  • Total Building Area: 1,455
  • Gross Building Area: 1,455
  • Building Area: 1,455
  • Building Area Measurement: R

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,455
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: C
  • Subdivision: ILLINOIS PARK 2ND ADDN
  • Land Acres: 0000000292
  • Standard Land Use Code: 2000
  • County Land Use Code: 0060
  • State Land Use Code: 0060
  • Legal Description 1: ILLINOIS PARK 2ND ADDN LOTS 15 & 16

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851909

Geography

  • Parcel: 06-10-330-014
  • Block: 1
  • Lot: 15,16
  • Municipality: ELGIN
  • Latitude: 42.0475
  • Longitude: -88.3152

    Address

  • Full Address: 1418 Illinois Pkwy
  • Address - House Number: 1418
  • Address - Street Name: Illinois
  • Address - Suffix Type: Pkwy
  • State: IL
  • City Name: Elgin
  • Carrier Code: C084
  • 4-Digit Zip Code: 3209
  • Zip Code: 60123

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $456,258
  • Tax Rate Code Area: EL005

    Market Valuation

  • Market Total Value: $157,917
  • Market Land Value: $36,432
  • Market Improvement Value: $121,486

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $52,618
  • Assessed Land Value: $12,139
  • Assessed Improvements Value: $40,479

    Sales

  • Current Sale Contract Date: Dec 29, 2023
  • Current Sale Recording Date: Jan 04, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 68
  • Current Sale Input Document Number: 385
  • Previous Sale Recording Date: May 05, 2021
  • Previous Sale Contract Date: May 04, 2021
  • Previous Sale Amount: $20,000
  • Previous Sale Document Type: 27
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 Northwest Elgin

Stats & Trends

Median Asking:

$365,245

Sale Price/ft²

$201

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1689 ft²

Average Home Age

42.7 years

Currently For Sale

39 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 801 N Mclean Boulevard, Elgin, IL, 60123

$2,685 /mo

  • 1 Bed
  • 1 Bath
  • 750 ft²
801 N Mclean Boulevard #146, Elgin, IL, 60123 Listing by Ryan Widerberg
Unit for rent at 141 Kathleen Drive, Elgin, IL, 60123

$2,500 /mo

  • 3 Beds
  • 1 Bath
141 Kathleen Drive, Elgin, IL, 60123 Listing by Shakir Siddique

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Christopher Davis, Inspire Realty Group LLC
Last Updated: 3 years ago
Data Source: MRED, MLS# 11933700
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 1418 Illinois Parkway built and last sold?
The property at 1418 Illinois Parkway was built in 1940 and last sold on Dec 29, 2023 for $250,000.
How much is this home worth?
The estimated value of the home located at 1418 Illinois Parkway is $0.
What are some comparable homes to 1418 Illinois Parkway?
There are currently no comparable homes to 1418 Illinois Parkway.
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