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Lake Forest 60045 Fairway Estates
1881 Farm Road
$725,000
● House - Off Market

1881 Farm Road

Lake Forest, IL 60045
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,754 Ft²
$755,259
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

This classic colonial home, set in the Lasker Estates of Lake Forest, presents an amazing opportunity. With a setback on a beautiful tree-lined driveway, featuring a fenced backyard and pool, the traditional layout of this home is quite surprising. It offers a large kitchen, breakfast sunroom, playroom, home office, formal living and dining areas, and a family room with a fireplace. Hardwood flooring is present throughout the first and second floors of the home. The primary bedroom has its own on suite, and three additional bedrooms share a large hall bath with double sinks. Lastly, there is a large finished basement with laundry room and additional storage area.
Unit Size
2,754 Ft²
Days on Market
-
Land Size
0.73 acres
Price per sqft
$276
Property Type
House
Property Taxes
$1,151
HOA Dues
-
Year Built
1966

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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 #11814097)

Price History

Date / Event Date Event Price
Sep 14, 2023 Sold
Premium
Sold
Jul 6, 2023 Listed by Premier Relocation, Inc. $760,000
Listed by Premier Relocation, Inc.

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1966
  • Effective Year Built: 1966
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 4
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 6
  • Basement Area: 1,674
  • Garage Type: 1
  • Garage Square Area: 594
  • Parking Space Count: 2
  • Patio Type: 94
  • Porch Type: 77
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 31,799
  • Total Building Area: 5,022
  • Gross Building Area: 5,142
  • Building Area: 3,564
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 0
  • Heated Square Feet: 3,564
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: PERCY WILSONS FAIRWAY ESTATES
  • Land Acres: 0000000730
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: PERCY WILSONS FAIRWAY ESTATES LOT 107

Neighborhood

  • School District Name: Lake Forest Community High School District 115
  • Census Tract: 866200

Geography

  • Assessors Map Reference: 2648-E7
  • District: VERNON
  • Parcel: 15-12-205-003
  • Lot: 107
  • Municipality: TWP OF VERNON
  • Latitude: 42.2185
  • Longitude: -87.8932

    Address

  • Full Address: 1881 Farm Rd
  • Address - House Number: 1881
  • Address - Street Name: Farm
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Lake Forest
  • Carrier Code: C021
  • 4-Digit Zip Code: 3511
  • Zip Code: 60045

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,380,832
  • Tax Rate Code Area: 16037

    Appraisal Valuation

  • Standard Deviation: 0.1708
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 78
  • Final Value: 875,270
  • High Value: 1,024,848
  • Low Value: 725,692

    Market Valuation

  • Market Total Value: $781,894
  • Market Land Value: $316,256
  • Market Improvement Value: $465,638

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $260,605
  • Assessed Land Value: $105,408
  • Assessed Improvements Value: $155,197

    Sales

  • Current Sale Contract Date: Sep 07, 2023
  • Current Sale Recording Date: Sep 19, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 7996448
  • Previous Sale Recording Date: Apr 14, 2014
  • Previous Sale Contract Date: Mar 18, 2014
  • Previous Sale Amount: $665,000
  • 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 Fairway Estates

Stats & Trends

Median Asking:

$1,159,500

Sale Price/ft²

$378

Above Asking

0.00%

Average Days on Market

38

Average Home Size

3636 ft²

Average Home Age

61.5 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 3 Darby Lane, Lincolnshire, IL, 60069

$4,300 /mo

  • 4 Beds
  • 2 Baths
  • 2,272 ft²
3 Darby Lane, Lincolnshire, IL, 60069 Listing by Mark Bystrowicz

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Susan Miner, Premier Relocation, Inc.
Last Updated: 3 years ago
Data Source: MRED, MLS# 11814097
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 1881 Farm Road built and last sold?
The property at 1881 Farm Road was built in 1966 and last sold on Sep 7, 2023 for $725,000.
How much is this home worth?
The estimated value of the home located at 1881 Farm Road is $0.
What are some comparable homes to 1881 Farm Road?
There are currently no comparable homes to 1881 Farm Road.
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