505 West 79th Street

505 West 79th Street has been categorized by the local assessors in Chicago, IL as a commercial type of property. The building on the property was first built in 1889 and is 135 years old. The building has a total of 2 stories. The area measurement of the land has been determined as 8,250 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a unknown 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. 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, 505 West 79th Street sold most recently in Feb 28, 2005 for a total of $279,000. If you work out the math, that's approximately a cost of $84.55 per sqft. Before that, the property was also sold for $82,000 in Jun 22, 1994. 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 $21,209 in taxes each year. 505 West 79th Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $83,536. If we break it down further, the land itself was valued at $7,425. Improvements to the property, however, were assessed at a total of $76,111. 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!