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Elgin 60120 Lords Park
700 Forest Avenue
$282,000
● House - Off Market

700 Forest Avenue

Elgin, IL 60120
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,826 Ft²
$1,828
Est. Monthly
12.88%
Cap Rate

About This Property

You will be amazed by the charm and beauty of this historic home.  The views of Lords Park from your front porch are spectacular.  Spending time on the porch or from your large picture window in the dining room viewing the park will become a tranquil time every day.  The first floor offers a living room, dining room, media room (den) and the sitting room all with hard wood floors.  Kitchen has ceramic tile and plenty of cabinets.  Four bedrooms upstairs with a full bath.  Whole house fan and central air.  Full basement (unfinished) for storage or hobbies.  Extra large garage space has a workshop for many enthusiast and a two car garage.
Unit Size
1,826 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$148
Property Type
House
Property Taxes
$502
HOA Dues
-
Year Built
1885

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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 #12029583)

Price History

Date / Event Date Event Price
Jun 7, 2024 Sold
Premium
Sold
May 2, 2024 Listed by RE/MAX Horizon $269,900
Listed by RE/MAX Horizon

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1885
  • Effective Year Built: 1885
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • 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
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 8
  • Basement Area: 989
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,712
  • Lot Size Depth Feet: 1,320
  • Lot Size Frontage Feet: 660
  • Total Building Area: 2,815
  • Gross Building Area: 2,815
  • Building Area: 1,826
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,826
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: JONATHAN FORCES ADDN
  • Land Acres: 0000000200
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • State Land Use Code: 0040
  • Legal Description 1: JONATHAN FORCES ADDN LOT 9 BLOCK 3

Neighborhood

  • School District Name: School District U-46
  • Census Tract: 851400

Geography

  • Parcel: 06-13-279-019
  • Block: 3
  • Lot: 9
  • Municipality: ELGIN
  • Latitude: 42.0393
  • Longitude: -88.2635

    Address

  • Full Address: 700 Forest Ave
  • Address - House Number: 700
  • Address - Street Name: Forest
  • Address - Suffix Type: Ave
  • State: IL
  • City Name: Elgin
  • Carrier Code: C031
  • 4-Digit Zip Code: 4407
  • Zip Code: 60120

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $570,014
  • Tax Rate Code Area: EL005

    Appraisal Valuation

  • Standard Deviation: 0.2013
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 72
  • Final Value: 276,472
  • High Value: 332,149
  • Low Value: 220,795

    Market Valuation

  • Market Total Value: $215,297
  • Market Land Value: $44,187
  • Market Improvement Value: $171,110

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $71,737
  • Assessed Land Value: $14,723
  • Assessed Improvements Value: $57,014

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Mar 28, 2003
  • Current Sale Recording Date: Apr 16, 2003
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2003K062926
  • Previous Sale Recording Date: Apr 12, 2002
  • Previous Sale Contract Date: Mar 28, 2002
  • Previous Sale Amount: $138,500
  • 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 Southeast Elgin

Stats & Trends

Median Asking:

$310,000

Sale Price/ft²

$213

Below Asking

0.01%

Average Days on Market

44

Average Home Size

1487 ft²

Average Home Age

49.4 years

Currently For Sale

26 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 920 Fairfax Court, Elgin, IL, 60120

$3,400 /mo

  • 4 Beds
  • 2 Baths
  • 1,980 ft²
920 Fairfax Court, Elgin, IL, 60120 Listing by Matthew Lysien

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Ron Ewing, RE/MAX Horizon
Last Updated: 3 years ago
Data Source: MRED, MLS# 12029583
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 700 Forest Avenue built and last sold?
The property at 700 Forest Avenue was built in 1885 and last sold on Mar 28, 2003 for $181,000.
How much is this home worth?
The estimated value of the home located at 700 Forest Avenue is $0.
What are some comparable homes to 700 Forest Avenue?
There are currently no comparable homes to 700 Forest Avenue.
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