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56 South Patricia Lane

56 South Patricia Lane, Palatine, IL 60074
Property in Palatine
Sold Jul 27, 2016
$343,000
$274,400 by Perl Mortgage Inc
Mortgage Due Aug 01, 2046
Sold Jan 02, 2013
$290,000
$275,470 by Fifth Third Mortgage Co
Mortgage Due Jan 01, 2043
56 South Patricia Lane in Palatine, IL was first built in 1968 and is 56 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a unknown. There are a total of 2 floors. There are a total of 8 rooms in the home, of which, 4 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 3 partial bathrooms. 56 South Patricia Lane has 2,143 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. In total, the area measurement of the land is 9,028 square feet.

Learn more about the property and building on this page. The roof of the home is made of asphalt. For those who need parking, there is a attached garage. There are a total of 2 available parking spaces. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as average. The exterior walls of the home are made of wood. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a 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, 56 South Patricia Lane sold most recently in Jul 7, 2016 for a total of $343,000. If you work out the math, that's approximately a cost of $160.06 per sqft. Before that, the property was also sold for $290,000 in Dec 14, 2012. 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 $8,590 in taxes each year. 56 South Patricia Lane was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $32,660. If we break it down further, the land itself was valued at $7,222. Improvements to the property, however, were assessed at a total of $25,438. 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. The process of purchasing a home may seem daunting and challenging for many first-time prospective homebuyers. No worries! We've broken down the overall homebuying process into detailed steps and have also included a breakdown on the general amount of time you'll need for each step you have to take. For example, most people don't know that the most important first step of any home buying process is to get pre-approved for a mortgage! With a few months of hard work, you will soon be the proud owner of your property and home.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.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1968
  • 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: Unfinished basement
  • Basement Area: 0
  • Garage Type: Attached
  • Parking Space Count: 2

    Dimensions

  • Lot Size Square Feet: 9,028
  • Total Building Area: 2,143
  • Gross Building Area: 2,143
  • Building Area: 2,143
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: Central air conditioning
  • Heating: Yes
  • Heated Square Feet: 2,143
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: WINSTON PARK UNIT6
  • Land Acres: 0.207
  • Standard Land Use Code: Single family residential
  • Legal Description 1: (WINSTON) PARK (UNIT6) RESUB OF PT OF PALATINE HEIGHT S UNIT1 SUB OF NH NE SEC 24-42-10

Ownership

  • Current Owner : WANG TONY
  • Current Owner 2: WANG LAUREN
  • Previous Owner : REVOREDO MARC P
  • Previous Owner 2: REVOREDO KATHRYN A
  • Owner Before Previous Owner: CATLIN BEVERLY
  • Is Owner Occupied: Owner-occupied property
  • Ownership Rights Codes: Tenants by Entirety

Neighborhood

  • School District Name: Palatine Community Consolidated School District 15
  • Census Tract: 803901

Geography

  • District: 29
  • Parcel: 02-24-209-049-0000
  • Block: 6
  • Lot: 18
  • Meridian: SEC 24 TWN 42N RNG 10E
  • Municipality: PALATINE
  • Latitude: 42.1085
  • Longitude: -88.0075

    Address

  • Full Address: 56 S Patricia Ln
  • Legal Unit: 6
  • Address - House Number: 56
  • Street Direction: S
  • Address - Street Name: Patricia
  • Address - Suffix Type: Ln
  • State: IL
  • City Name: Palatine
  • Carrier Code: C034
  • 4-Digit Zip Code: 5736
  • Zip Code: 60074

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $8,590
  • Tax Rate Code Area: 29046

    Appraisal Valuation

  • Standard Deviation: 0.255
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 63
  • Final Value: 486,490
  • High Value: 610,586
  • Low Value: 362,394

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $403,900
  • First Open Lien Mortgage Lender: PERL MORTGAGE INC
  • First Open Lien Mortgage Recording Date: Jul 27, 2016
  • First Open Lien Mortgage Financing Type: Unknown
  • First Open Lien Mortgage Loan Amount: $274,400
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Aug 01, 2046
  • Second Open Lien Mortgage Lender: THE HUNTINGTON NATIONAL BANK
  • Second Open Lien Mortgage Recording Date: May 04, 2023
  • Second Open Lien Mortgage Loan Amount: $129,500
  • Second Open Lien Mortgage Term: 360
  • Second Open Lien Mortgage Position: 2
  • Second Open Lien Mortgage Loan Type: Credit Line (Revolving)
  • Second Open Lien Mortgage Loan Due Date: Apr 20, 2053

    Market Valuation

  • Market Total Value: $326,600
  • Market Land Value: $72,220
  • Market Improvement Value: $254,380

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $32,660
  • Assessed Land Value: $7,222
  • Assessed Improvements Value: $25,438

    Sales

  • Current Sale Contract Date: Jul 07, 2016
  • Current Sale Recording Date: Jul 27, 2016
  • Current Sale Transaction ID: 1680409809
  • Current Sale Price: $343,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 1620922245
  • Previous Sale Recording Date: Jan 02, 2013
  • Previous Sale Contract Date: Dec 14, 2012
  • Previous Sale Amount: $290,000
  • Previous Sale Document Type: Trustee's Deed (Certificate of Title)

    Last Sale Mortgage

  • First Mortgage Lender: PERL MORTGAGE INC
  • First Mortgage Transaction Date: Jul 27, 2016
  • First Mortgage Loan Amount: $274,400
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Aug 01, 2046

    Financing

  • First Mortgage Financing Type: Unknown

    Previous Mortgages

  • Previous Mortgage Lender: FIFTH THIRD MORTGAGE CO
  • Previous Mortgage Transaction Date: Jan 02, 2013
  • Previous Mortgage Loan Amount: $275,470
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional
  • Previous Mortgage Loan Due Date: Jan 01, 2043

About Palatine



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Unit for rent at 1426 E Olive Street, Palatine, IL, 60074

$2,550 /mo

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1426 E Olive Street, Palatine, IL, 60074 Listing by Romulus Olariu

Frequently Asked Questions

What neighborhood is 56 South Patricia Lane located in?
The 56 South Patricia Lane is a located in the neighborhood of Palatine in Palatine, Palatine.
What is the average sales price for listings in 56 South Patricia Lane?
The average sales price for units in 56 South Patricia Lane is $0 currently.

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