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Summit 60501 Summit
7546 W Hanover Street
$240,000
● House - Off Market

7546 W Hanover Street

Summit, IL 60501
bedrooms
3 Beds
bathrooms
1 Bath
square feet
1,178 Ft²
$1,813
Est. Monthly
9.71%
Cap Rate

About This Property

This charming 3-bedroom, 1-bathroom home offers the perfect blend of comfort, convenience, and potential!  Enjoy a partially finished basement-ready for your dream man cave, home gym, or entertainment space. The seller is leaving behind a pool table and exercise machine to get you started!  Ideal for commuters-the Metra station is located right behind the property, and you're just minutes from I-55, making travel to the city or suburbs a breeze.  Family-friendly location-just steps from a local park and near great schools.  Spacious backyard-perfect for summer BBQs, pets, or simply relaxing outdoors.  Pride of ownership-well-maintained and move-in ready!  Whether you're a first-time buyer, a growing family, or an investor-this home checks all the boxes.
Unit Size
1,178 Ft²
Days on Market
-
Land Size
-
Price per sqft
$219
Property Type
House
Property Taxes
$546
HOA Dues
-
Year Built
1927

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1927
  • Effective Year Built: 1927
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 3
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 0
  • Garage Type: 11
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,360
  • Total Building Area: 1,178
  • Gross Building Area: 1,178
  • Building Area: 1,178
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,178
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: HANSENS SUB
  • Land Acres: 0000000077
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: TRYGVE O (HANSENS) SUB OF S 80 FT OF W 150 FT OF LT 2 8 SEC 12-38-12

Neighborhood

  • School District Name: Argo Community High School District 217
  • Census Tract: 820300

Geography

  • District: 21
  • Parcel: 18-12-401-024-0000
  • Lot: 2
  • Meridian: SEC 12 TWN 38N RNG 12E
  • Municipality: LYONS
  • Latitude: 41.7943
  • Longitude: -87.8098

    Address

  • Full Address: 7546 W Hanover St
  • Address - House Number: 7546
  • Street Direction: W
  • Address - Street Name: Hanover
  • Address - Suffix Type: St
  • State: IL
  • City Name: Summit Argo
  • Carrier Code: C001
  • 4-Digit Zip Code: 1003
  • Zip Code: 60501

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $465,952
  • Tax Rate Code Area: 21038

    Appraisal Valuation

  • Standard Deviation: 0.265
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 62
  • Final Value: 259,456
  • High Value: 328,232
  • Low Value: 190,680

    Market Valuation

  • Market Total Value: $220,000
  • Market Land Value: $24,360
  • Market Improvement Value: $195,640

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $22,000
  • Assessed Land Value: $2,436
  • Assessed Improvements Value: $19,564

    Sales

  • Current Sale Contract Date: Nov 21, 2003
  • Current Sale Recording Date: Jan 09, 2004
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 33
  • Current Sale Input Document Number: 0400933170
  • Previous Sale Recording Date: Jul 11, 2002
  • Previous Sale Contract Date: Jun 28, 2002
  • Previous Sale Amount: $157,000
  • 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 Summit

Stats & Trends

Median Asking:

$349,700

Sale Price/ft²

$220

Below Asking

0.01%

Average Days on Market

63

Average Home Size

1364 ft²

Average Home Age

82.6 years

Currently For Sale

10 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 7224 W 60th Place, Summit, IL, 60501

$2,800 /mo

  • 3 Beds
  • 2 Baths
  • 1,128 ft²
7224 W 60th Place, Summit, IL, 60501 Listing by Cesar Gallegos

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Abigail Puentes, Realty of America, LLC
Data Source: MRED, MLS# MRD12471084
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 7546 West Hanover Street built and last sold?
The property at 7546 West Hanover Street was built in 1927 and last sold on Nov 21, 2003 for $163,000.
How much is this home worth?
The estimated value of the home located at 7546 West Hanover Street is $263,496.
What are some comparable homes to 7546 West Hanover Street?
There are currently no comparable homes to 7546 West Hanover Street.
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