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Franklin Park 60131 Franklin Park
2707 Elder Lane
$405,000
● House - Off Market

2707 Elder Lane

Franklin Park, IL 60131
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,800 Ft²
$2,575
Est. Monthly
6.27%
Cap Rate

About This Property

Summer living is here! Enjoy each summer in your heated pool and hot tub in a beautifully landscaped private yard in this south  Franklin Park home. Close to parks and schools, this home boasts 3 plus 1 bedrooms or office space, a large master bedroom  with a walk-in closet, living room, dining room, loft, 2 newly remodeled bathrooms, beautiful kitchen with stainless steel  appliances and granite countertops, a lower level finished flex room and laundry area with abundant storage. Your large  private backyard includes a 2 1/2 car garage with freezer, pool, hot tub, and covered deck with electric. Perennial plants will fill  your yard with color each summer!
Unit Size
1,800 Ft²
Days on Market
-
Land Size
0.15 acres
Price per sqft
$222
Property Type
House
Property Taxes
$616
HOA Dues
-
Year Built
1944

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Cap Rate Calculator

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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 #11997667)

Price History

Date / Event Date Event Price
May 31, 2024 Sold
Premium
Sold
Mar 6, 2024 Listed by Circle One Realty $398,900
Listed by Circle One Realty

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1944
  • Effective Year Built: 1944
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 6
  • Building Style: 3
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 150
  • 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: 6,627
  • Total Building Area: 1,368
  • Gross Building Area: 1,368
  • Building Area: 1,368
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,368
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: WESTBROOK UNIT3 BEING MILLS & SONS
  • Land Acres: 0000000152
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: (WESTBROOK) (UNIT3) BEING (MILLS) & (SONS) SUB IN EH SE 28-40-12

Neighborhood

  • School District Name: Franklin Park School District 84
  • Census Tract: 811402

Geography

  • District: 20
  • Parcel: 12-28-407-032-0000
  • Block: 10
  • Lot: 26
  • Meridian: SEC 28 TWN 40N RNG 12E
  • Municipality: LEYDEN
  • Latitude: 41.9281
  • Longitude: -87.8704

    Address

  • Full Address: 2707 Elder Ln
  • Legal Unit: 3
  • Address - House Number: 2707
  • Address - Street Name: Elder
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Franklin Park
  • Carrier Code: C007
  • 4-Digit Zip Code: 3225
  • Zip Code: 60131

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $739,625
  • Tax Rate Code Area: 20028

    Appraisal Valuation

  • Standard Deviation: 0.1011
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 90
  • Final Value: 395,656
  • High Value: 435,660
  • Low Value: 355,652

    Market Valuation

  • Market Total Value: $270,000
  • Market Land Value: $49,700
  • Market Improvement Value: $220,300

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $27,000
  • Assessed Land Value: $4,970
  • Assessed Improvements Value: $22,030

    Sales

  • Current Sale Contract Date: Nov 09, 1995
  • Current Sale Recording Date: Nov 14, 1995
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 95794273
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 Franklin Park

Stats & Trends

Median Asking:

$349,900

Sale Price/ft²

$264

Below Asking

0.01%

Average Days on Market

42

Average Home Size

1567 ft²

Average Home Age

68.8 years

Currently For Sale

26 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 221 E Dickens Avenue, Northlake, IL, 60164

$2,800 /mo

  • 4 Beds
  • 2 Baths
  • 1,325 ft²
221 E Dickens Avenue, Northlake, IL, 60164 Listing by Ana Ramirez

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Ryan Cherney, Circle One Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 11997667
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 2707 Elder Lane built and last sold?
The property at 2707 Elder Lane was built in 1944 and last sold on Nov 9, 1995 for $125,500.
How much is this home worth?
The estimated value of the home located at 2707 Elder Lane is $0.
What are some comparable homes to 2707 Elder Lane?
There are currently no comparable homes to 2707 Elder Lane.
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