Last Sold Price
22 beds
465 N Mill Rd, Addison, IL 60101

Description

This is a very solid, income-producing 12-unit building that's easy to manage. With 10 two-bedroom units and 2 one-bedroom units-all fully leased-this property offers strong, steady rental income and an excellent cap rate. It's all brick, has been well cared for by a hands-on landlord, and sits in a convenient location near expressways, shopping, and parks. What makes this opportunity even more attractive is the significant amount of capital improvement already completed, eliminating the need for...This is a very solid, income-producing 12-unit building that's easy to manage. With 10 two-bedroom units and 2 one-bedroom units-all fully leased-this property offers strong, steady rental income and an excellent cap rate. It's all brick, has been well cared for by a hands-on landlord, and sits in a convenient location near expressways, shopping, and parks. What makes this opportunity even more attractive is the significant amount of capital improvement already completed, eliminating the need for major work in the near future. Seven of the twelve units have been remodeled between 2016 and 2024, with the others updated through the years (all but one). In addition, the property features a brand new 26-space parking lot completed in 2025, a new A. O. Smith water heater (2024), upgraded attic insulation with R-38 Energy 360 (2020), a new boiler and control system (2020), and a new roof installed in 2018. There's no association, plenty of parking, double wide lot and minimal ongoing maintenance-making this an extremely investor-friendly property. It's rare to find a building this well-positioned, both physically and financially. If you're looking for a strong-performing asset in a great location with long-term upside, don't miss out on this one.
LISTING CLOSED: 10/24/2025 12:00 AM

  1. Listed by Ralph Binetti • RE/MAX Suburban
    P: (630) 707-1776 C: (630) 707-1776 Remaxralph@msn.com
  2. Listed by Santino Binetti • RE/MAX Suburban
    P: (847) 230-7000 C: (630) 940-9751 santinobinetti@gmail.com

Sold By xr realty

Property Details for 465 North Mill Road

Status
MLS #
12400822
Days on Market
27
Taxes
$27,738 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Multi Family 5+ / Corridor-Exterior Entrance
Year Built
1970
Lot Size
0.47 AC / 20,473 SF
Area
Addison
Township
Addison
Air Conditioning Type
None
Zoning
MULTI

Location

Add your commute

Building Information for 465 North Mill Road

Stories3Residences12Year Built1970Building Size-Lot Size0.47 AC / 20,473 SF

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$9,895

Property Taxes

$2,312

HOA Dues

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Property Information for 465 North Mill Road

General Information
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: None
  • Heat/Ventilation: Radiators
  • Num of Baths: 12.0
Property/Lot Information
  • Owners Association: No
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Exterior Entrance
  • Lot Size Source: County Records
  • Lot Dimensions: 140X145
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2025-07-03T14:53:26
  • Photos Count: 34
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
  • Virtual Tour Date: 07-01-2025
Multi Family
Multi-Family Information
  • Number Of Units Total: 12
Income & Expenses
  • Electric Expense: $903.00
  • Fuel Expense: $4,440.00
  • Gross Income: $209,400.00
  • Gross Scheduled Income: $215,594.00
  • Insurance Expense: $5,997.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Owner Projection
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Janitor Expense: 1400
  • Other Expense Source: Owner Projection
  • Repairs-Decor Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 17450
  • Water Expense Source: Owner Projection
  • Net Operating Income: $156,568.00
  • Operating Expense: $59,025.00
  • Other Expense: $680.00
  • Trash Expense: $.00
  • Water Sewer Expense: $16,547.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 10
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
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 465 North Mill Road

DateEvent & SourcePriceAppreciation
Oct 24, 2025

Sold

MRED #12400822

$1,946,700
Oct 20, 2025

Sold (Public Record)

Public Record #1917032747

$1,947,000
Jul 27, 2025

Pending

MRED #12400822

DateEvent & SourcePrice
10/24/2025

Sold

MRED #12400822

$1,946,700
10/20/2025

Sold (Public Record)

Public Record #1917032747

$1,947,000
07/27/2025

Pending

MRED #12400822

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

Public Records for 465 North Mill Road

Taxable ValueLand$169,852Additions$254,795Total$424,647
Tax Record2025$28,507 ($2,376 / month)
Home Facts
Total Finished SqFt6,720 SqFtAbove Grade Finished SqFt6,720 SqFtLot Size19,602 SqFtStyleMulti-Family Res (5+ Units)Year Built1970Year Renovated1970ZoningACountyDUPAGEAPN03-20-416-004

Schools near 465 North Mill Road

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
Private - PK to 8
Rating
School
Distance
Army Trail Elementary School
PublicK to 5

Indian Trail Jr High School
Public6 to 8

Addison Trail High School
Public9 to 12

St Philip The Apostle School
PrivatePK to 8

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 any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim 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 seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Suburban

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. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 10/26/2025 03:01 AM. 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.