5001 North Lincoln Avenue

5001 North Lincoln Avenue has been categorized by the local assessors in Chicago, IL as a residential type of property. The building on the property was first built in 1910 and is 114 years old. The home has a total of 17 rooms. 6 of these rooms are legally considered as bedrooms. Residents will have access to 3 full bathrooms. There are 3 partial bathrooms in the home. The building has a total of 2 stories. In addition, 5001 North Lincoln Avenue has 2,915 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 2,548 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a multifamily style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. For the features and amenities located on the property. There is a detached garage for those who require parking. According to our sources, there are a total of 2 available parking spaces. Moving on to the building itself. The condition of the building has been evaluated as average. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with frame control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of C by the local assessor. The roof of the building is made of materials that we aren't sure of. The exterior walls of the building are made of wood. The inside of the home is being cooled with air conditioning at the moment. In terms of heating, it is utilizing a hot water 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, 5001 North Lincoln Avenue sold most recently in May 24, 2021 for a total of $630,000. If you work out the math, that's approximately a cost of $216.12 per sqft. Before that, the property was also sold for $480,000 in Dec 18, 2019. 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 $10,078 in taxes each year. 5001 North Lincoln Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $49,000. If we break it down further, the land itself was valued at $20,384. Improvements to the property, however, were assessed at a total of $28,616. 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. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly!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.