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Northbrook 60062
2501 Cherry Lane
$855,000
● House - Off Market

2501 Cherry Lane

Northbrook, IL 60062
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,200 Ft²
$5,023
Est. Monthly
3.46%
Cap Rate

About This Property

Located off of Cherry Lane on a charming cul de sac, this classic colonial with a sweeping front yard is a perfect place to call home! Prime location across from Westmoor Elementary School, walking distance to all Northbrook has to offer! This home has been lovingly maintained and recently refreshed (2024) for the new owners - beautiful hardwood floors throughout both levels have been refinished and neutral paint throughout.  NEW white shaker kitchen cabinets and quartz countertops!  Four large bedrooms upstairs with great closet space, and updated baths.  Finished basement, 2 car garage, beautiful yard with mature trees.  Top schools, top location - suburban living at it's best!
Unit Size
2,200 Ft²
Days on Market
-
Land Size
0.32 acres
Price per sqft
$341
Property Type
House
Property Taxes
$1,340
HOA Dues
-
Year Built
1968

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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 #12045808)

Price History

Date / Event Date Event Price
Jun 18, 2024 Sold
Premium
Sold
May 24, 2024 Listed by @properties Christie's International Real Estate $750,000
Listed by @properties Christie's International Real Estate

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1968
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 5
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 60
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 14,060
  • Total Building Area: 2,126
  • Gross Building Area: 2,126
  • Building Area: 2,126
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 2,126
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WHITE PLAINS UNIT5
  • Land Acres: 0000000323
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-78
  • Legal Description 1: (WHITE)(PLAINS)(UNIT5) A SUB IN SEC 09-42-12

Neighborhood

  • School District Name: Northbrook School District 28
  • Census Tract: 801701

Geography

  • District: 25
  • Parcel: 04-09-313-021-0000
  • Block: 118
  • Lot: 21
  • Meridian: SEC 09 TWN 42N RNG 12E
  • Municipality: NORTHFIELD
  • Latitude: 42.1308
  • Longitude: -87.8419

    Address

  • Full Address: 2501 Cherry Ln
  • Legal Unit: 5
  • Address - House Number: 2501
  • Address - Street Name: Cherry
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Northbrook
  • Carrier Code: C038
  • 4-Digit Zip Code: 4413
  • Zip Code: 60062

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,608,271
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 25032

    Appraisal Valuation

  • Standard Deviation: 0.2283
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 68
  • Final Value: 801,294
  • High Value: 984,261
  • Low Value: 618,326

    Market Valuation

  • Market Total Value: $760,000
  • Market Land Value: $210,900
  • Market Improvement Value: $549,100

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $76,000
  • Assessed Land Value: $21,090
  • Assessed Improvements Value: $54,910

    Sales

  • Current Sale Contract Date: Jul 11, 1997
  • Current Sale Recording Date: Jul 15, 1997
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 97507520

    Financing

  • First Mortgage Financing Type: VAR
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 Northbrook

Stats & Trends

Median Asking:

$717,000

Sale Price/ft²

$300

Below Asking

0.01%

Average Days on Market

44

Average Home Size

2907 ft²

Average Home Age

45.3 years

Currently For Sale

63 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 2930 Dundee Road, Northbrook, IL, 60062

$3,500 /mo

  • 3 Beds
  • 2 Baths
  • 1,450 ft²
2930 Dundee Road, Northbrook, IL, 60062 Listing by Evangelina Ginsburg
Unit for rent at 3069 Plum Island Drive, Northbrook, IL, 60062

$3,700 /mo

  • 4 Beds
  • 2 Baths
3069 Plum Island Drive, Northbrook, IL, 60062 Listing by Gina Kim

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Kimberly Meixner, @properties Christie's International Real Estate
Last Updated: 3 years ago
Data Source: MRED, MLS# 12045808
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 2501 Cherry Lane built and last sold?
The property at 2501 Cherry Lane was built in 1968 and last sold on Jul 11, 1997 for $390,000.
How much is this home worth?
The estimated value of the home located at 2501 Cherry Lane is $756,272.
What are some comparable homes to 2501 Cherry Lane?
There are currently no comparable homes to 2501 Cherry Lane.
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