5705 North Lincoln Avenue

5705 North Lincoln Avenue has been categorized by the local assessors in Chicago, IL as a commercial type of property. This is a single story building so stairs are not necessary to access other parts of the home. The linear feet between the front and back of the lot is 1,080 ft and across the front of the lot is 580 ft. The area measurement of the land has been determined as 6,227 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, 5705 North Lincoln Avenue sold most recently in Dec 21, 2022 for a total of $650,000. If you work out the math, that's approximately a cost of $112.07 per sqft. Before that, the property was also sold for $895,000 in Jan 11, 2007. There could be many factors that caused the property to sell at a lower price and decrease in value. Tax-wise, the current owner is expected to pay close to $0 in taxes each year. 5705 North Lincoln Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $126,266. If we break it down further, the land itself was valued at $38,406. Improvements to the property, however, were assessed at a total of $87,860. 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. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.