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2865 West McLean Avenue

2865 West McLean Avenue, Chicago, IL 60647
Property in Palmer Square
Sold Jul 14, 2022
$742,500
$773,000 by Republic Bank Of Chicago
Mortgage Due May 23, 2024
2865 West McLean Avenue in Chicago, IL was first built in 1897 and is 127 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 multifamily style. There are a total of 2 floors. There are a total of 12 rooms in the home, of which, 6 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 2 partial bathrooms. 2865 West McLean Avenue has 1,880 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 3,750 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 detached 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 masonry. Walk into the home itself and you'll find that it is currently being cooled with air conditioning. As for heating, the home is utilizing a heating system. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 2865 West McLean Avenue sold most recently in Jun 9, 2022 for a total of $742,500. If you work out the math, that's approximately a cost of $394.95 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $8,429 in taxes each year. The initial year of tax delinquency occurred in 2021. 2865 West McLean Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $47,000. If we break it down further, the land itself was valued at $16,875. Improvements to the property, however, were assessed at a total of $30,125. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. The process of purchasing a home may seem daunting and challenging for many first-time prospective homebuyers. No worries! We've broken down the overall homebuying process into detailed steps and have also included a breakdown on the general amount of time you'll need for each step you have to take. For example, most people don't know that the most important first step of any home buying process is to get pre-approved for a mortgage! With a few months of hard work, you will soon be the proud owner of your property and home.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

Building Features

Exterior

Brick Exterior
Vinyl Siding

Parking

Garage Parking
This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1897
  • Effective Year Built: 1897
  • Building Count: 1
  • Total Rooms: 12
  • Bedroom Count: 6
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: Average
  • Building Quality: C
  • Construction Type: Frame
  • Building Style: Multifamily
  • Exterior Walls Type: Masonry
  • Roof Cover Type: Asphalt
  • Floor Count: 2
  • Living Units: 2
  • Basement Type: Unfinished basement
  • Basement Area: 0
  • Garage Type: Detached
  • Parking Space Count: 2

    Dimensions

  • Lot Size Square Feet: 3,750
  • Total Building Area: 1,880
  • Gross Building Area: 1,880
  • Building Area: 1,880
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: Yes
  • Heating: Yes
  • Heated Square Feet: 1,880
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: HOEPE & KERFFS
  • Land Acres: 0.086
  • Standard Land Use Code: Apartments (generic)
  • Legal Description 1: (HOEPE) & (KERFFS) RESUB OF BLKS8&11 IN TOWN OF SCHLE SWIG SUB OF E40ACS OF S41.70ACS OF NW SEC 36-40-13

Ownership

  • Current Owner : TREF 2 LLC
  • Previous Owner : SALVADOR C RIVERA REVOCABLE SELF DECLARA
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Chicago Public School District 299
  • Census Tract: 221300

Zoning

  • Zoning: RS-3

Geography

  • Assessors Map Reference: Jan 01, 1970
  • District: 77
  • Parcel: 13-36-124-002-0000
  • Block: 8,11
  • Lot: 11
  • Meridian: SEC 36 TWN 40N RNG 13E
  • Municipality: WEST CHICAGO
  • Latitude: 41.9181
  • Longitude: -87.6998

    Address

  • Full Address: 2865 W Mclean Ave
  • Address - House Number: 2865
  • Street Direction: W
  • Address - Street Name: Mclean
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Chicago
  • Carrier Code: C021
  • 4-Digit Zip Code: 3957
  • Zip Code: 60647

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $8,429
  • Intital Tax Deliquent Year: 2021
  • Tax Rate Code Area: 77135

    Appraisal Valuation

  • Standard Deviation: 0.2555
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 48
  • Final Value: 491,289
  • High Value: 616,822
  • Low Value: 365,755

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $773,000
  • First Open Lien Mortgage Lender: REPUBLIC BANK OF CHICAGO
  • First Open Lien Mortgage Recording Date: May 26, 2023
  • First Open Lien Mortgage Loan Amount: $773,000
  • First Open Lien Mortgage Term: 12
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: Building or Construction Loan
  • First Open Lien Mortgage Loan Due Date: May 23, 2024

    Market Valuation

  • Market Total Value: $470,000
  • Market Land Value: $168,750
  • Market Improvement Value: $301,250

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $47,000
  • Assessed Land Value: $16,875
  • Assessed Improvements Value: $30,125

    Sales

  • Current Sale Contract Date: Jun 09, 2022
  • Current Sale Recording Date: Jul 14, 2022
  • Current Sale Transaction ID: 11892095119
  • Current Sale Price: $742,500
  • Current Sale Document Type: Deed
  • Current Sale Input Document Number: 22011

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Frequently Asked Questions

What neighborhood is 2865 West McLean Avenue located in?
The 2865 West McLean Avenue is a located in the neighborhood of Palmer Square in Northwest Side, Chicago.
What is the average sales price for listings in 2865 West McLean Avenue?
The average sales price for units in 2865 West McLean Avenue is $0 currently.

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