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Lake Bluff 60044 Village of Lake Bluff
227 Park Lane
$535,000
● House - Off Market

227 Park Lane

Lake Bluff, IL 60044
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,148 Ft²
$556,524
RealtyHop Estimate
1.37%
Since May 1, 2022
National-US
Primary Model

About This Property

Wonderful 2148 sq ft brick ranch in East Terrace. So close to schools, park, train and  town. One floor living at its best with 3BR  2.1 baths on the main level as well as the laundry room.  As floor plan shows family room with its WBFP and built in book cases is open to the updated kitchen. Finished basement adds a lot more space with a 4th BR, an office , a recreation room, storage room and work room. Dining room, family room and kitchen all have sliders opening to the patio and large fenced backyard.  Newer roof and windows. This house has GREAT FLOW!!  Location can't be beat. No showings 12/24-12/30
Unit Size
2,148 Ft²
Days on Market
-
Land Size
0.35 acres
Price per sqft
$256
Property Type
House
Property Taxes
$839
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 #11233129)

Price History

Date / Event Date Event Price
Apr 8, 2022 Sold
Premium
Sold
Nov 4, 2021 Listed by @properties $549,000
Listed by @properties

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1966
  • Effective Year Built: 1966
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 9
  • Building Condition: 6
  • Building Quality: 9
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 9
  • Basement Area: 1,504
  • Garage Type: 1
  • Garage Square Area: 440
  • Parking Space Count: 2
  • Patio Type: 59
  • Porch Type: 102
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 15,599
  • Total Building Area: 4,092
  • Gross Building Area: 4,092
  • Building Area: 2,148
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,148
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: VILLAGE OF LAKE BLUFF THE TERRACE
  • Land Acres: 0000000358
  • Standard Land Use Code: 1001
  • County Land Use Code: 40
  • Legal Description 1: VILLAGE OF LAKE BLUFF THE TERRACE; LOT 18 BLOCK 10

Neighborhood

  • School District Name: Lake Bluff Elementary School District 65
  • Census Tract: 863202

Geography

  • District: SHIELDS
  • Parcel: 12-20-406-007
  • Block: 10
  • Lot: 18
  • Municipality: TWP OF SHIELDS
  • Latitude: 42.2747
  • Longitude: -87.8524

    Address

  • Full Address: 227 Park Ln
  • Address - House Number: 227
  • Address - Street Name: Park
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Lake Bluff
  • Carrier Code: C005
  • 4-Digit Zip Code: 2430
  • Zip Code: 60044

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,065,906
  • Tax Rate Code Area: 10011

    Appraisal Valuation

  • Standard Deviation: 0.1709
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 78
  • Final Value: 607,607
  • High Value: 711,456
  • Low Value: 503,758

    Market Valuation

  • Market Total Value: $517,099
  • Market Land Value: $339,424
  • Market Improvement Value: $177,675

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $172,349
  • Assessed Land Value: $113,130
  • Assessed Improvements Value: $59,219

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 07, 2022
  • Current Sale Recording Date: Apr 28, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 7899756
  • Previous Sale Recording Date: Dec 21, 2015
  • Previous Sale Contract Date: Jan 27, 2015
  • Previous Sale Amount: $495,000
  • 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 Village of Lake Bluff

Stats & Trends

Median Asking:

$995,000

Sale Price/ft²

$417

Below Asking

0.01%

Average Days on Market

47

Average Home Size

3461 ft²

Average Home Age

61 years

Currently For Sale

4 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 389 E Deerpath Road, Lake Forest, IL, 60045

$2,695 /mo

  • 2 Beds
  • 1 Bath
  • 900 ft²
389 E Deerpath Road #1, Lake Forest, IL, 60045 Listing by Megan Sparrow Jordan
Unit for rent at 706 Oak Avenue, Lake Bluff, IL, 60044

$2,850 /mo

  • 2 Beds
  • 2 Baths
  • 1,250 ft²
706 Oak Avenue #706, Lake Bluff, IL, 60044 Listing by Gregg Handrich

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Megan Jordan, @properties
Last Updated: 3 years ago
Data Source: MRED, MLS# 11233129
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 227 Park Lane built and last sold?
The property at 227 Park Lane was built in 1966 and last sold on Apr 7, 2022 for $535,000.
How much is this home worth?
The estimated value of the home located at 227 Park Lane is $0.
What are some comparable homes to 227 Park Lane?
There are currently no comparable homes to 227 Park Lane.
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