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Newark 60541
507 CHICAGO Road
$213,000
● House - Off Market

507 CHICAGO Road

Newark, IL 60541
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,318 Ft²
$233,289
RealtyHop Estimate
6.09%
Since Jan 1, 2023
National-US
Primary Model

About This Property

Charming is the first thing that comes to mind as you walk up to this beautiful front porch. The original Woodwork is stunning, Columns between living and dining room, Hardwood floors, Decorative windows and Build-in Buffet in dining room. All these plus more just keep adding to the appeal of this home. This home is ready for a new family to start or grow into. Most of the big items have been updated in the last 4-5 years. These items include Roof, Furnace, CAC, Siding, most of the Windows and Appliances. Kitchen has new flooring. Home has been painted throughout. Features a 2.5 car detached garage on a very Large lot with Beautiful Trees in the Quaint town of Newark. Call for an appointment today.
Unit Size
1,318 Ft²
Days on Market
-
Land Size
0.36 acres
Price per sqft
$167
Property Type
House
Property Taxes
$215
HOA Dues
-
Year Built
-

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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 #11658109)

Price History

Date / Event Date Event Price
Dec 15, 2022 Sold
Premium
Sold
Oct 21, 2022 Listed by Brummel Properties, Inc. $219,900
Listed by Brummel Properties, Inc.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Full Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 28
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 15,682
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: VILLAGE OF NEWARK
  • Land Acres: 0000000360
  • Standard Land Use Code: 1000
  • County Land Use Code: 0040
  • Legal Description 1: SEC 5-35-6 VILLAGE OF NEWARK

Neighborhood

  • School District Name: Newark Community High School District 18
  • Census Tract: 890703

Geography

  • Parcel: 07-05-102-006
  • Meridian: SEC 05 TWN 35N RNG 06E
  • Municipality: BIG GROVE TOWNSHIP
  • Latitude: 41.5431
  • Longitude: -88.5777

    Address

  • Full Address: 507 Chicago Rd
  • Address - House Number: 507
  • Address - Street Name: Chicago
  • Address - Suffix Type: Rd
  • State: IL
  • City Name: Newark
  • Carrier Code: R001
  • 4-Digit Zip Code: 9501
  • Zip Code: 60541

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $266,808
  • Tax Rate Code Area: BG004

    Appraisal Valuation

  • Standard Deviation: 0.1611
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 79
  • Final Value: 187,353
  • High Value: 217,545
  • Low Value: 157,160

    Market Valuation

  • Market Total Value: $121,062
  • Market Land Value: $51,999
  • Market Improvement Value: $69,063

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $40,354
  • Assessed Land Value: $17,333
  • Assessed Improvements Value: $23,021

    Sales

  • Current Sale Contract Date: Dec 09, 2022
  • Current Sale Recording Date: Jan 11, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 413
  • Previous Sale Recording Date: Jul 08, 2010
  • Previous Sale Contract Date: Jun 09, 2010
  • Previous Sale Amount: $133,000
  • Previous Sale Document Type: 71
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 Newark

Stats & Trends

Median Asking:

$244,250

Sale Price/ft²

$194

Above Asking

0.00%

Average Days on Market

43

Average Home Size

1510 ft²

Average Home Age

92.2 years

Currently For Sale

0 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

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MRED

Listed by: Laura Tomsa, Brummel Properties, Inc.
Last Updated: 3 years ago
Data Source: MRED, MLS# 11658109
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 507 Chicago Road built and last sold?
The property at 507 Chicago Road was built in and last sold on Dec 9, 2022 for $213,000.
How much is this home worth?
The estimated value of the home located at 507 Chicago Road is $0.
What are some comparable homes to 507 Chicago Road?
There are currently no comparable homes to 507 Chicago Road.
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