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Lombard 60148
616 Lilac Way
$360,000
● House - Off Market

616 Lilac Way

Lombard, IL 60148
bedrooms
4 Beds
bathrooms
3 Baths
square feet
1,892 Ft²
$359,900
RealtyHop Estimate
0.00%
Since Dec 1, 2023
National-US
Primary Model

About This Property

Spacious 4-bedroom 3 bath home in a Spectacular Magic Circle location has been cared for with extreme pride by the original owner.  This property offers an extreme opportunity to build instant sweat equity. The main level features a spacious living room and dining area. Expansive kitchen and eating area walk out to a newer concrete patio overlooking a nice sized mostly fenced rear yard.  The second level has 4 nice sized bedrooms and 2 full baths, all with ample closet space. Primary en suite is 14x12. Light and bright lower level has a nice sized family room, 3rd bath and laundry room. Attached garage has plenty of storage.  Newer roof with 50-year shingles. Newer HVAC.  This one is an explosive value in a top-notch location, steps away from Madison Meadows!
Unit Size
1,892 Ft²
Days on Market
-
Land Size
-
Price per sqft
$190
Property Type
House
Property Taxes
$699
HOA Dues
-
Year Built
1961

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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 #11895628)

Price History

Date / Event Date Event Price
Nov 17, 2023 Sold
Premium
Sold
Oct 3, 2023 Listed by J.W. Reedy Realty $359,900
Listed by J.W. Reedy Realty

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1961
  • Building Count: 1
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 2
  • Building Style: 41
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 389
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,276
  • Lot Size Depth Feet: 137
  • Lot Size Frontage Feet: 63
  • Total Building Area: 1,967
  • Gross Building Area: 1,967
  • Building Area: 1,578
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,578
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LOMBARD MEADOWS
  • Land Acres: 0000000190
  • Standard Land Use Code: 1001
  • County Land Use Code: R
  • Legal Description 1: LOMBARD MEADOWS

Neighborhood

  • School District Name: Lombard School District 44
  • School Tax School District: LOMBARD
  • Census Tract: 844202

Zoning

  • Zoning: R

Geography

  • Assessors Map Reference: 3026-D6
  • Parcel: 06-17-214-012
  • Lot: 156
  • Municipality: YORK
  • Latitude: 41.8715
  • Longitude: -87.9995

    Address

  • Full Address: 616 Lilac Way
  • Address - House Number: 616
  • Address - Street Name: Lilac
  • Address - Suffix Type: Way
  • State: IL
  • City Name: Lombard
  • Carrier Code: C028
  • 4-Digit Zip Code: 3639
  • Zip Code: 60148

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $839,066
  • Tax Rate Code Area: 6011

    Appraisal Valuation

  • Standard Deviation: 0.1776
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 77
  • Final Value: 392,934
  • High Value: 462,730
  • Low Value: 323,137

    Market Valuation

  • Market Total Value: $348,450
  • Market Land Value: $81,630
  • Market Improvement Value: $266,820

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $116,150
  • Assessed Land Value: $27,210
  • Assessed Improvements Value: $88,940

    Sales

  • Current Sale Contract Date: Nov 16, 2023
  • Current Sale Recording Date: Dec 04, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 76864
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 Lombard

Stats & Trends

Median Asking:

$374,950

Sale Price/ft²

$248

Below Asking

0.01%

Average Days on Market

42

Average Home Size

1705 ft²

Average Home Age

48.4 years

Currently For Sale

95 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

Unit for rent at 16 Majestic Drive, Lombard, IL, 60148

$3,200 /mo

  • 3 Beds
  • 2 Baths
  • 1,226 ft²
16 Majestic Drive #1, Lombard, IL, 60148 Listing by Jawad Sharif
Unit for rent at 409 Hillcrest Lane, Lombard, IL, 60148

$3,750 /mo

  • 4 Beds
  • 3 Baths
  • 2,191 ft²
409 Hillcrest Lane, Lombard, IL, 60148 Listing by Celena Le

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Tom Fosnot, J.W. Reedy Realty
Last Updated: 3 years ago
Data Source: MRED, MLS# 11895628
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 616 Lilac Way built and last sold?
The property at 616 Lilac Way was built in 1961 and last sold on Nov 16, 2023 for $360,000.
How much is this home worth?
The estimated value of the home located at 616 Lilac Way is $0.
What are some comparable homes to 616 Lilac Way?
There are currently no comparable homes to 616 Lilac Way.
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