516 Michigan Court

Addison, IL 60101

$700,000
Last Sold Price
22
Beds
15
Baths
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

HIGHEST AND BEST IS 5:30 PM January 11, 2024. All showing will start promply at 2pm and end at 3pm january 10th. We have a large amount of people attending. Great DuPage County Building with no association. Building has (3) 2 bedrooms and (2) 2 bedrooms. Unit number 1 is a much larger unit with 1.1 bathrooms and approximately 1400SF with a tenant that has occupied for over 30+ years and helps with interior and exterior maintenance. Unit #5 has been completely updated in April 2023. Unit 3 lease expires...HIGHEST AND BEST IS 5:30 PM January 11, 2024. All showing will start promply at 2pm and end at 3pm january 10th. We have a large amount of people attending. Great DuPage County Building with no association. Building has (3) 2 bedrooms and (2) 2 bedrooms. Unit number 1 is a much larger unit with 1.1 bathrooms and approximately 1400SF with a tenant that has occupied for over 30+ years and helps with interior and exterior maintenance. Unit #5 has been completely updated in April 2023. Unit 3 lease expires April 2024 and could get more for rent if buyer wishes. New roof and gutters and downspouts installed 2022, new windows throughout building in October 2023. Brick tuck-pointing in great condition. HWT less than 7-years old. Coined washer and dryer, for extra income, is less then 4 years old. Boiler is aged but is still working great and has been certified by our HVAC contractor. Main boiler pump just was replaced September 2023 along with (1) other pump. All other units are in good clean condition with most having hardwood flooring. Building is well maintained inside and out. Sellers hate to sell but due to unforeseen issues with the sellers, our loss is your gain. Tenants pay electric with separate meters and breaker panels in each unit. Each unit has (2) assigned parking places which have been freshly striped in July 2023. Property is located within a cul de sac, quiet area and building backs up to Fullerton Elementary School. Sellers received a 2-year waiver from The Village of Addison for their yearly inspection due to the great condition and upkeep of this building. Sellers are currently accepting offers. However, we are requesting all interesting buyers to submit offers to email address in agents remarks section. Only drive-by inspection for now. Do not, i repeat, do not attemp to bother tenants. They are not aware as of yet the building is being sold. We are trying to cordinate with tentants for all showings of entire build and units between 2-3 pm on january 10, 2024, at which time will ask for highest and best offers. Building will be a great investment with a nice net annual income. Water bill contains garbage bill with (1) dumpster.
  1. Listed by David Pokorny • CNB Property Consultants, Inc

Sold By RE/MAX Suburban

Property Details for 516 Michigan Court

Area
Addison
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 02/28/2024 07:13 PM

Property Details for 516 Michigan Court

StatusClosed
MLS #11950895
Days on Market21
Taxes$10,582 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1978
Lot Size0.20 AC / 8,700 SF
CountyDuPage County

Building Information for 516 Michigan Court

Stories3Residences5Year Built1978Building Size-Lot Size0.20 AC / 8,700 SF

Property Information for 516 Michigan Court

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces,Assigned Spaces
  • Open Parking Spaces: 10.0
Location and General Information
  • Frontage Type: City Street
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Separate Meters
  • # Of Washers: 1
  • Heat/Ventilation: Central Bldg Heat,Gas,Hot Water,Baseboard
  • # Of Window/Ac: 4
  • # Of Refrigerators: 5
  • Washer/Dryer Lsd: No
  • Misc Inside: Laundry Room
  • # Of Dryers: 1
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 15.1
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity
  • Built Before 1978: No
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Flats
  • Lot Dimensions: 60X145
  • Lot Size Square Feet: 8700.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Type: Composition, Fiberglass
  • Roof Structure: Gable
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 3445
  • # Of Ranges: 5
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Multi-Family
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 0
  • Photos Count: 8
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $423.00
  • Fuel Expense: $2,129.00
  • Gross Income: $70,800.00
  • Gross Scheduled Income: $70,800.00
  • Insurance Expense: $2,303.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Actual
  • Expense Year: 2023
  • Total Annual Expense Source: Broker Projection
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 300
  • Net Operating Income Year: 2023
  • Trash Expense Source: Actual
  • Total Monthly Income: 5900
  • Water Expense Source: Actual
  • Net Operating Income: $37,651.00
  • Operating Expense: $25,000.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $4,877.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 3
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 4
Unit 5
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 5
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 516 Michigan Court

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 516 Michigan Court

Taxable ValueLand$60,340Additions$90,510Total$150,850
Tax Record2023$11,105 ($925 / month)
Home Facts
Total Finished SqFt3,445 SqFtAbove Grade Finished SqFt3,445 SqFtLot Size8,712 SqFtStyleMulti-Family Dwelling (2-4)Year Built1962ZoningACountyDUPAGEAPN03-33-201-015

Schools near 516 Michigan Court

This home is within Addison School District 4.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Ardmore Elementary School
PublicK to 5

Indian Trail Jr High School
Public6 to 8

Addison Trail High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CNB Property Consultants, Inc

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 02/28/2024 07:13 PM. 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.