For Sale
For Rent
Blog
Property Records
Schools
SEARCH
Property Records
For Sale
For Rent
MORE
Blog
Schools
See Home Value
Gurnee 60031 Westgate
1981 Madison Avenue
$350,000
● House - Off Market

1981 Madison Avenue

Gurnee, IL 60031
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,366 Ft²
$362,955
RealtyHop Estimate
-0.56%
Since Sep 1, 2023
National-US
Primary Model

About This Property

This adorable 4 bedroom 2.5 bath home is ready for you to move in. Freshly painted throughout. Kitchen boasts white cabinets and updated appliances. Room for a table in your eat in kitchen as well as a formal dining room. Two great living spaces on first floor. Large primary bedroom has walk in closet, linen closet, and ensuite bathroom. 3 more generously sized bedrooms upstairs. Basement is ready for your finishing touches. Large deck and private backyard as well!
Unit Size
2,366 Ft²
Days on Market
-
Land Size
-
Price per sqft
$154
Property Type
House
Property Taxes
$851
HOA Dues
-
Year Built
1988

Payment Calculator

Home Price
Down Payment
%
Loan Term
Interest %

Your Estimated Monthly Payment

Principal + Interest:
Property Tax:
HOA:
Home Insurance:
Mortgage Insurance:

Cap Rate Calculator

Purchase Price
Monthly Property Taxes
Monthly Rental Income
Maintenance & HOA
Income Per Year
Expenses Per Year
Operating Profit Per Year
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 #11818218)

Price History

Date / Event Date Event Price
Aug 29, 2023 Sold
Premium
Sold
Jun 27, 2023 Listed by Century 21 Circle $365,000
Listed by Century 21 Circle

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1988
  • Effective Year Built: 1988
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 8
  • Building Condition: 6
  • Building Quality: 4
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 3
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,046
  • Garage Type: 1
  • Garage Square Area: 420
  • Parking Space Count: 2
  • Patio Type: 3
  • Porch Type: 102
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,666
  • Total Building Area: 3,832
  • Gross Building Area: 3,832
  • Building Area: 2,366
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,366
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WESTGATE UNIT 1
  • Land Acres: 0000000222
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: WESTGATE UNIT 1; LT 21 LOT 21

Neighborhood

  • School District Name: Warren Township High School District 121
  • Census Tract: 861505

Geography

  • District: WARREN
  • Parcel: 07-10-314-006
  • Lot: 21
  • Municipality: TWP OF WARREN
  • Latitude: 42.3888
  • Longitude: -87.9436

    Address

  • Full Address: 1981 Madison Ave
  • Legal Unit: 1
  • Address - House Number: 1981
  • Address - Street Name: Madison
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Gurnee
  • Carrier Code: C012
  • 4-Digit Zip Code: 6099
  • Zip Code: 60031

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,021,218
  • Tax Rate Code Area: 8042

    Appraisal Valuation

  • Standard Deviation: 0.1705
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 78
  • Final Value: 389,773
  • High Value: 456,244
  • Low Value: 323,302

    Market Valuation

  • Market Total Value: $331,236
  • Market Land Value: $43,876
  • Market Improvement Value: $287,360

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $110,401
  • Assessed Land Value: $14,624
  • Assessed Improvements Value: $95,777

    Sales

  • Current Sale Contract Date: Aug 28, 2023
  • Current Sale Recording Date: Sep 05, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 7993542
  • Previous Sale Recording Date: May 23, 2022
  • Previous Sale Contract Date: May 02, 2022
  • Previous Sale Amount: $300,000
  • 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 Westgate

Stats & Trends

Median Asking:

$440,000

Sale Price/ft²

$198

Below Asking

0.01%

Average Days on Market

40

Average Home Size

2819 ft²

Average Home Age

38 years

Currently For Sale

1 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 5366 Sequoia Court, Gurnee, IL, 60031

$3,600 /mo

  • 3 Beds
  • 2 Baths
  • 2,241 ft²
5366 Sequoia Court, Gurnee, IL, 60031 Listing by Marina Camenschi

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Joanna Elrod, Century 21 Circle
Last Updated: 3 years ago
Data Source: MRED, MLS# 11818218
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 1981 Madison Avenue built and last sold?
The property at 1981 Madison Avenue was built in 1988 and last sold on Aug 28, 2023 for $350,000.
How much is this home worth?
The estimated value of the home located at 1981 Madison Avenue is $0.
What are some comparable homes to 1981 Madison Avenue?
There are currently no comparable homes to 1981 Madison Avenue.
Recent Neighborhood News
Lake House Prices Near NYC in 2026: What Waterfront Actually Costs (Labor Day Buyer's Guide)
9 New York City Seafood and Raw Bars
Why Some NYC Tenement Apartments Had Bathtubs in the Kitchen
The Current Status of iBuying in 2026: What To Know
Popular Searches
Gurnee Homes for Sale
Gurnee Houses for Sale
Gurnee Condos for Sale
Gurnee Townhouses for Sale
Gurnee Multifamily for Sale
Gurnee Land for Sale
Gurnee Commercial for Sale
Gurnee Homes with Basements
Nearby Cities
Waukegan Homes for Sale
Mundelein Homes for Sale
Zion Homes for Sale
Grayslake Homes for Sale
Round Lake Beach Homes for Sale
Libertyville Homes for Sale
Antioch Homes for Sale
Round Lake Homes for Sale
Nearby Property Records
Lake County, IL Property Records
Kenosha County, WI Property Records
McHenry County, IL Property Records
Racine County, WI Property Records
Kane County, IL Property Records
Walworth County, WI Property Records
DuPage County, IL Property Records
Boone County, IL Property Records
Neighborhoods
Wildwood on Gages Lake Real Estate
Village of Lake Bluff Real Estate
Heatherstone Real Estate
Marquette Highlands Real Estate
Shore Acres Real Estate
Washburn Park Real Estate
Sheridan Road Park Real Estate
Lake Cogardens Real Estate
Nearby Counties
Warren Homes for Sale
Avon Homes for Sale
Libertyville Homes for Sale
Waukegan Homes for Sale
Antioch Homes for Sale
Lake Villa Homes for Sale
Fremont Homes for Sale
Zion Homes for Sale
Top Real Estate Agents
Top Agents in Westgate
Top Agents in Gurnee
Top Agents in Warren
Top Agents in Avon
Top Agents in 60073
Top Agents in Libertyville
Top Agents in Waukegan
Top Agents in Waukegan