See Home Value
$333,700
● House - Off Market

550 Madison Lane

Elgin, IL 60123
bedrooms
2 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,783 Ft²
$2,451
Est. Monthly
$275
HOA / Fees

About This Property

Welcome to this beautiful Madison Lane townhome. This spacious home features two bedrooms plus a large loft, two-and-a-half bathrooms, and an unfinished basement, providing plenty of room to live, work, and entertain.  The open-concept living and dining area is filled with abundant natural light and stunning two story space. The spacious living room with fireplace flows seamlessly into the dining room and kitchen, which boasts new appliances, ample cabinet space, and a pantry for additional storage.  Enter from the garage into the laundry/mud room with new washer/dryer and additional cabinets.  Upstairs, you'll find two generously sized bedrooms and a versatile loft offering endless possibilities-perfect for a home office, guest space, or hobby area.. The Primary Suite features a tray ceiling, large walk-in closet and private en-suite with dual vanity, soaking tub and separate shower.  The unfinished basement, offers a blank canvas ready for your personal touch. Whether you envision a media room, play area, or additional living space, the possibilities are endless. Close proximity to Randal Rd shopping and restaurants and I90.  This townhome combines functionality, flexibility, and style-ready to welcome you home!
Unit Size
1,783 Ft²
Days on Market
-
Land Size
-
Price per sqft
$182
Property Type
House
Property Taxes
$580
HOA Dues
$275
Year Built
2007

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Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 2007
  • Effective Year Built: 2007
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 2
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 951
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 2,178
  • Lot Size Frontage Feet: 260
  • Total Building Area: 2,734
  • Gross Building Area: 2,734
  • Building Area: 1,783
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 0
  • Heated Square Feet: 1,783
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MADISON HOMES OF ELGIN SUB
  • Land Acres: 0000000500
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: MADISON HOMES OF ELGIN SUB LOT 4 (EX AS DESC IN DOC 2008K021966 & 2008K059343 & 2008K067726 & 2008K073211)

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851909

Geography

  • Parcel: 06-09-453-090
  • Lot: 4
  • Municipality: ELGIN
  • Latitude: 42.0452
  • Longitude: -88.3311

    Address

  • Full Address: 550 Madison Ln
  • Address - House Number: 550
  • Address - Street Name: Madison
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Elgin
  • Carrier Code: C077
  • 4-Digit Zip Code: 2537
  • Zip Code: 60123

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $626,636
  • Tax Rate Code Area: EL016

    Appraisal Valuation

  • Standard Deviation: 0.1606
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 79
  • Final Value: 317,390
  • High Value: 368,375
  • Low Value: 266,406

    Market Valuation

  • Market Total Value: $234,895
  • Market Land Value: $64,295
  • Market Improvement Value: $170,600

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $78,267
  • Assessed Land Value: $21,423
  • Assessed Improvements Value: $56,844

    Sales

  • Current Sale Contract Date: Jun 16, 2023
  • Current Sale Recording Date: Jul 13, 2023
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 23477
  • Previous Sale Recording Date: Sep 03, 2020
  • Previous Sale Contract Date: Jul 31, 2020
  • Previous Sale Amount: $210,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Northwest Elgin


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 3061 Hughsdale Street, Elgin, IL, 60124

$2,800 /mo

  • 3 Beds
  • 2 Baths
  • 2,275 ft²
3061 Hughsdale Street, Elgin, IL, 60124 Listing by Abhijit Leekha
Unit for rent at 1335 Abbott Drive, Elgin, IL, 60123

$1,550 /mo

  • 2 Beds
  • 1 Bath
  • 700 ft²
1335 Abbott Drive #3, Elgin, IL, 60123 Listing by Lawrence Hines
Unit for rent at 1637 Sheffield Drive, Elgin, IL, 60123

$2,400 /mo

  • 3 Beds
  • 1 Bath
  • 1,428 ft²
1637 Sheffield Drive, Elgin, IL, 60123 Listing by Esther Zamudio


Frequently Asked Questions

When was property at 550 Madison Lane built and last sold?
The property at 550 Madison Lane was built in 2007 and last sold on Jun 16, 2023 for $295,000.
How much is this home worth?
The estimated value of the home located at 550 Madison Lane is $330,323.
What are some comparable homes to 550 Madison Lane?
There are currently no comparable homes to 550 Madison Lane.