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Will 60451
1508 Illini Drive
$319,500
● House - Off Market

1508 Illini Drive

New Lenox, IL 60451
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,600 Ft²
$457,422
RealtyHop Estimate
38.65%
Since Aug 1, 2020
National-US
Primary Model

About This Property

Sitting on a large country size lot, this move in ready, 4 bedroom, 3 bath, 2 story is loaded with extras! Home features hardwood floors in living room, dining room, & hallway. Galley kitchen features SS appliances, granite countertops, oak cabinetry, & porcelain floor tile. Formal dining area & table space both adjoin kitchen. Master features trayed ceiling, W/I closet, luxury bath with whirlpool tub, separate shower, & double sink. Huge upper family room for relaxing, watching TV, or just sitting by the fireplace. Loft/Office area also. 3 bedrooms on main level, 1 with full bath. 2 car attached garage plus bonus 2.5 detached extended finished garage with heat/elect/cable & attic storage. Large shed. Covered patio & deck for outdoor entertaining.
Unit Size
2,600 Ft²
Days on Market
-
Land Size
0.46 acres
Price per sqft
$127
Property Type
House
Property Taxes
$686
HOA Dues
-
Year Built
-

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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 #10623113)

Price History

Date / Event Date Event Price
Jul 8, 2020 Sold
Premium
Sold
Jan 30, 2020 Listed by Coldwell Banker Real Estate Group $329,900
Listed by Coldwell Banker Real Estate Group

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • 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
  • 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: 19,919
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: KNOLLCREST UNIT 2
  • Land Acres: 0000000460
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 46 IN KNOLLCREST UNIT 2, BEING A SUB OF PRT OF THE W1/2 OF THE SE1/4 OF SEC 35, T35N-R11E.

Neighborhood

  • School District Name: Lincoln Way Community High School District 210
  • Census Tract: 881113

Geography

  • Parcel: 15-08-35-406-002
  • Lot: 46
  • Meridian: SEC 35 TWN 35N RNG 11E
  • Municipality: NEW LENOX
  • Latitude: 41.4761
  • Longitude: -87.9333

    Address

  • Full Address: 1508 Illini Dr
  • Legal Unit: 2
  • Address - House Number: 1508
  • Address - Street Name: Illini
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: New Lenox
  • Carrier Code: R003
  • 4-Digit Zip Code: 2863
  • Zip Code: 60451

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,010,244
  • Tax Rate Code Area: 1520

    Appraisal Valuation

  • Standard Deviation: 0.1466
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 82
  • Final Value: 442,608
  • High Value: 507,518
  • Low Value: 377,698

    Market Valuation

  • Market Total Value: $381,345
  • Market Land Value: $84,045
  • Market Improvement Value: $297,300

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $127,115
  • Assessed Land Value: $28,015
  • Assessed Improvements Value: $99,100

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jul 02, 2020
  • Current Sale Recording Date: Jul 27, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: R2020060274

    Financing

  • First Mortgage Financing Type: FIX
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 Will

Stats & Trends

Median Asking:

$390,000

Sale Price/ft²

$205

Below Asking

0.01%

Average Days on Market

47

Average Home Size

2301 ft²

Average Home Age

33.6 years

Currently For Sale

1462 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

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MRED

Listed by: Gerald Shepich, Coldwell Banker Real Estate Group
Last Updated: 3 years ago
Data Source: MRED, MLS# 10623113
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 1508 Illini Drive built and last sold?
The property at 1508 Illini Drive was built in and last sold on Jul 2, 2020 for $319,500.
How much is this home worth?
The estimated value of the home located at 1508 Illini Drive is $0.
What are some comparable homes to 1508 Illini Drive?
There are currently no comparable homes to 1508 Illini Drive.
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