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245 East Timberlane Drive

245 East Timberlane Drive, Palatine, IL 60067
Property in Palatine
Sold Jun 09, 2020
$340,000
$306,000 by Guaranteed Rate Inc
Mortgage Due May 01, 2050
Sold Nov 01, 1996
$213,000
$170,400 by Merchants National Bank
Mortgage Due Nov 01, 2026
245 East Timberlane Drive in Palatine, IL was first built in 1972 and is 52 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a unknown. There are a total of 2 floors. There are a total of 7 rooms in the home, of which, 4 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 3 partial bathrooms. 245 East Timberlane Drive has 2,047 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. In total, the area measurement of the land is 10,000 square feet.

Learn more about the property and building on this page. The roof of the home is made of asphalt. For those who need parking, there is a attached garage. There are a total of 2 available parking spaces. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as average. The exterior walls of the home are made of wood. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a heating system. There is a fireplace in the home! Just imagine how amazing it would be to curl up in front of a cozy fireplace during those chilly winter nights. The property was last sold in Apr 24, 2020 for $340,000. That's $166.10 per sqft. Prior to that sales transaction, the property was also sold in Oct 31, 1996 for $213,000. 245 East Timberlane Drive was last assessed in 2023. The total value of the property was assessed at $36,000. Specifically, the land the property is located on was valued at $8,000. While improvements on the property were assessed at a total of $28,000. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $9,331. If you're currently on the market shopping for a loan, then you've most likely encountered the two terms "interest rate" and "annual percentage rate (aka APR)". But do you know the difference between the two? Typically, APRS are higher than interest rates because they include most additional fees and one-time costs. As a result, it's important to look at both and if you notice that your APR is significantly higher, that might mean that too many additional fees are being charged. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1972
  • Effective Year Built: 1972
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: Average
  • Building Quality: C
  • Construction Type: Frame
  • Exterior Walls Type: Wood
  • Roof Cover Type: Asphalt
  • Floor Count: 2
  • Living Units: 1
  • Basement Type: Unfinished basement
  • Basement Area: 0
  • Garage Type: Attached
  • Parking Space Count: 2

    Dimensions

  • Lot Size Square Feet: 10,000
  • Total Building Area: 2,047
  • Gross Building Area: 2,047
  • Building Area: 2,047
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Yes
  • Heated Square Feet: 2,047
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: PEPPER TREE FARMS UNIT3
  • Land Acres: 0.23
  • Standard Land Use Code: Single family residential
  • Legal Description 1: (PEPPER) (TREE) FARMS (UNIT3) SUB IN SE SW SEC 11-42-10

Ownership

  • Current Owner : MARCOTTE JACOB
  • Current Owner 2: MARCOTTE JULIE
  • Previous Owner : WEBER DANIEL A
  • Previous Owner 2: WEBER CYNTHIA J
  • Owner Before Previous Owner: NELSON MARY L
  • Ownership Rights Codes: Life Tenant
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Palatine Community Consolidated School District 15
  • Census Tract: 803604

Geography

  • District: 29
  • Parcel: 02-11-116-039-0000
  • Lot: 82
  • Meridian: SEC 11 TWN 42N RNG 10E
  • Municipality: PALATINE
  • Latitude: 42.1342
  • Longitude: -88.0356

    Address

  • Full Address: 245 E Timberlane Dr
  • Legal Unit: 3
  • Address - House Number: 245
  • Street Direction: E
  • Address - Street Name: Timberlane
  • Address - Suffix Type: Dr
  • State: IL
  • City Name: Palatine
  • Carrier Code: C021
  • 4-Digit Zip Code: 2755
  • Zip Code: 60067

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $9,331
  • Tax Rate Code Area: 29007

    Appraisal Valuation

  • Standard Deviation: 0.2269
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 68
  • Final Value: 443,751
  • High Value: 544,465
  • Low Value: 343,036

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $306,000
  • First Open Lien Mortgage Lender: GUARANTEED RATE INC
  • First Open Lien Mortgage Recording Date: Jun 09, 2020
  • First Open Lien Mortgage Financing Type: Fixed Rate
  • First Open Lien Mortgage Loan Amount: $306,000
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: May 01, 2050

    Market Valuation

  • Market Total Value: $360,000
  • Market Land Value: $80,000
  • Market Improvement Value: $280,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $36,000
  • Assessed Land Value: $8,000
  • Assessed Improvements Value: $28,000

    Sales

  • Current Sale Contract Date: Apr 24, 2020
  • Current Sale Recording Date: Jun 09, 2020
  • Current Sale Transaction ID: 11766310492
  • Current Sale Price: $340,000
  • Current Sale Document Type: Deed
  • Current Sale Input Document Number: 2016106196
  • Previous Sale Recording Date: Nov 01, 1996
  • Previous Sale Contract Date: Oct 31, 1996
  • Previous Sale Amount: $213,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: GUARANTEED RATE INC
  • First Mortgage Transaction Date: Jun 09, 2020
  • First Mortgage Loan Amount: $306,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: May 01, 2050

    Financing

  • First Mortgage Financing Type: Fixed Rate

    Previous Mortgages

  • Previous Mortgage Lender: MERCHANTS NATIONAL BANK
  • Previous Mortgage Transaction Date: Nov 01, 1996
  • Previous Mortgage Financing Type: Variable
  • Previous Mortgage Loan Amount: $170,400
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Due Date: Nov 01, 2026

About Palatine



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Frequently Asked Questions

What neighborhood is 245 East Timberlane Drive located in?
The 245 East Timberlane Drive is a located in the neighborhood of Palatine in Palatine, Palatine.
What is the average sales price for listings in 245 East Timberlane Drive?
The average sales price for units in 245 East Timberlane Drive is $0 currently.

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