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5060 Castaway Lane

5060 Castaway Lane, Barrington, IL 60010
Property in Palatine
Sold Aug 26, 2016
$465,000
$165,000 by Citibank Na
Mortgage Due Sep 01, 2031
Sold Jan 09, 2006
$548,500
$275,000 by Usaa Fsb
Mortgage Due Jan 01, 2036
5060 Castaway Lane has been categorized by the local assessors in Barrington, IL as a residential type of property. The building on the property was first built in 1984 and is 40 years old. The home has a total of 8 rooms. 4 of these rooms are legally considered as bedrooms. Residents will have access to 2 full bathrooms. There are 3 partial bathrooms in the home. The building has a total of 2 stories. In addition, 5060 Castaway Lane has 2,585 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 11,316 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a unknown.

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 attached garage for those who require parking. According to our sources, there are a total of 3 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 asphalt. The exterior walls of the building are made of wood. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a heating system. There is a single fireplace in the home. Perfect for those wintery nights. Finally, the property is currently sourcing its water from a municipal system. The property was last sold in Aug 5, 2016 for $465,000. That's $179.88 per sqft. Prior to that sales transaction, the property was also sold in Dec 22, 2005 for $548,500. 5060 Castaway Lane was last assessed in 2023. The total value of the property was assessed at $51,000. Specifically, the land the property is located on was valued at $11,882. While improvements on the property were assessed at a total of $39,118. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $14,172. Purchasing a home can require a lot of financial power in this day and age but not everyone has the savings to do so. As a result, many will get a mortgage loan to aid them in one of the most finance-intensive purchases of their lives. It's important when shopping for a mortgage to aim the best possible rate you can get. The lower your interest rate, the better as it can mean more money saved in the long run. In the following guide, we'll cover our best tips for how to get the best mortgage rate to your situation. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1984
  • Effective Year Built: 1984
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: Average
  • Building Quality: C
  • Construction Type: Frame
  • Exterior Walls Type: Wood
  • Roof Cover Type: Asphalt
  • Floor Count: 2
  • Living Units: 1
  • Basement Type: Finished improved basement
  • Basement Area: 0
  • Garage Type: Attached
  • Parking Space Count: 3

    Dimensions

  • Lot Size Square Feet: 11,316
  • Total Building Area: 2,585
  • Gross Building Area: 2,585
  • Building Area: 2,585
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Yes
  • Heated Square Feet: 2,585
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: Municipal

Building

  • Property Class: Residential
  • Subdivision: HIGHLAND WOODS UNIT2
  • Land Acres: 0.26
  • Standard Land Use Code: Single family residential
  • Legal Description 1: (HIGHLAND)(WOODS)(UNIT2) BEING SUB OF PT OF WH SW SEC 18-42-10

Ownership

  • Current Owner : SHAH MAHESHKUMAR
  • Current Owner 2: SHAH DIVYA
  • Previous Owner : STROBBE RUTH A
  • Previous Owner 2: STROBBE LORI J
  • Owner Before Previous Owner: AIELLO GIUSEPPE
  • Owner Before Previous Owner 2: AIELLO SHEILA
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Palatine Community Consolidated School District 15
  • Census Tract: 803603

Geography

  • District: 29
  • Parcel: 02-18-316-025-0000
  • Block: 4
  • Lot: 25
  • Meridian: SEC 18 TWN 42N RNG 10E
  • Municipality: PALATINE
  • Latitude: 42.1156
  • Longitude: -88.1192

    Address

  • Full Address: 5060 Castaway Ln
  • Legal Unit: 2
  • Address - House Number: 5060
  • Address - Street Name: Castaway
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Hoffman Estates
  • Carrier Code: C031
  • 4-Digit Zip Code: 5510
  • Zip Code: 60010

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $14,172
  • Tax Rate Code Area: 29055

    Appraisal Valuation

  • Standard Deviation: 0.2271
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 68
  • Final Value: 619,665
  • High Value: 760,429
  • Low Value: 478,901

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $165,000
  • First Open Lien Mortgage Lender: CITIBANK NA
  • First Open Lien Mortgage Recording Date: Aug 26, 2016
  • First Open Lien Mortgage Financing Type: Fixed Rate
  • First Open Lien Mortgage Loan Amount: $165,000
  • First Open Lien Mortgage Term: 180
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Sep 01, 2031

    Market Valuation

  • Market Total Value: $510,000
  • Market Land Value: $118,820
  • Market Improvement Value: $391,180

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $51,000
  • Assessed Land Value: $11,882
  • Assessed Improvements Value: $39,118

    Sales

  • Current Sale Contract Date: Aug 05, 2016
  • Current Sale Recording Date: Aug 26, 2016
  • Current Sale Transaction ID: 1788225673
  • Current Sale Price: $465,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 1623946094
  • Previous Sale Recording Date: Jan 09, 2006
  • Previous Sale Contract Date: Dec 22, 2005
  • Previous Sale Amount: $548,500
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: CITIBANK NA
  • First Mortgage Transaction Date: Aug 26, 2016
  • First Mortgage Loan Amount: $165,000
  • First Mortgage Terms: 180
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Sep 01, 2031

    Financing

  • First Mortgage Financing Type: Fixed Rate

    Previous Mortgages

  • Previous Mortgage Lender: USAA FSB
  • Previous Mortgage Transaction Date: Jan 09, 2006
  • Previous Mortgage Loan Amount: $275,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: Fannie Mae/Freddie Mac (Phased out because Fannie Mae does not originate loans directly to borrowers or investors. Most "new conventional" loans meet their general underwriting guidelines.)
  • Previous Mortgage Loan Due Date: Jan 01, 2036

About Hoffman Estates



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Frequently Asked Questions

What neighborhood is 5060 Castaway Lane located in?
The 5060 Castaway Lane is a located in the neighborhood of Palatine in Hoffman Estates, Barrington.
What is the average sales price for listings in 5060 Castaway Lane?
The average sales price for units in 5060 Castaway Lane is $0 currently.

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