230 South State Street

Elgin, IL 60123

$4,700,000
Price
48
Beds
36
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This great opportunity for an investment building so conveniently located near a Metra stop (only 1.4 miles away), Randall Rd, Rt 20, and I90 does not come along very often! 230 State Street offers Building is fully rented many long terms tenant positive cash flow.This great opportunity for an investment building so conveniently located near a Metra stop (only 1.4 miles away), Randall Rd, Rt 20, and I90 does not come along very often! 230 State Street offers Building is fully rented many long terms tenant positive cash flow.
  1. Listed by Jayesh Parekh • ARNI Realty Incorporated

Property Details for 230 South State Street

Area
Elgin
Township
Elgin
Zoning
MULTI

Location

Listing Courtesy of ARNI Realty Incorporated
Add your commute
LISTING UPDATED: 03/22/2024 12:06 AM

Property Details for 230 South State Street

StatusActive
MLS #12005401
Days on Market69
Taxes$45,922 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Year Built1962
Lot Size-
CountyKane County

Location

Listing Courtesy of ARNI Realty Incorporated
Add your commute

Building Information for 230 South State Street

Stories-Residences32Year Built1962Building Size-Lot Size-

Payment Calculator

$29,477 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,650

Property Taxes

$3,827

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 230 South State Street

General Information
Location and General Information
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Basement Description: Finished
  • Heat/Ventilation: Central Bldg Heat
  • # Of Refrigerators: 32
  • Num of Baths: 36.0
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Corridor-Interior Entrance
  • Lot Dimensions: 32X142X176X201
  • Stories: 4
  • Construction: Brick
  • Roof Structure: Other
  • # Of Ranges: 32
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2024-03-20T17:44:49
  • Photos Count: 1
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: 32
Income & Expenses
  • Electric Expense: $3,600.00
  • Fuel Expense: $19,200.00
  • Gross Income: $552,000.00
  • Gross Scheduled Income: $559,200.00
  • Insurance Expense: $15,000.00
  • Maintenance Expense: $17,500.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2023
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Janitor Expense: 2400
  • Net Operating Income Year: 2023
  • Other Expense Source: Owner Projection
  • Repairs-Decor Expense Source: Owner Projection
  • Total Monthly Income: 46600
  • Water Expense Source: Owner Projection
  • Net Operating Income: $422,378.00
  • Operating Expense: $136,822.00
  • Other Expense: $1,200.00
  • Trash Expense: $6,000.00
  • Water Sewer Expense: $26,000.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 4
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 12
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 12
Unit 4
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 4
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 230 South State Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 230 South State Street

Taxable ValueLand$70,797Additions$458,796Total$529,593
Tax Record2022$45,922 ($3,827 / month)
Home Facts
Total Finished SqFt30,600 SqFtAbove Grade Finished SqFt30,600 SqFtStories4Lot Size40,176 SqFtStyleMulti-Family Res (5+ Units)Year Built1962CountyKANEAPN06-14-478-025

Schools near 230 South State Street

This home is within School District U-46.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 8 to 12
Rating
School
Distance
Lowrie Elementary School
PublicK to 6

Abbott Middle School
Public7 to 8

Larkin High School
Public9 to 12

Central School Program
Public8 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.

Similar Homes

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230 South State Street is a multi-family home for sale in Elgin, IL 60123. This property was listed for sale on March 15, 2024 by ARNI Realty Incorporated, it's currently listed at $4,700,000. It has been on the market for a total of 69 days and was last sold on December 13, 2022. This listing's school district is School District U-46. Nearby schools include Lowrie Elementary School, Abbott Middle School and Larkin High School. 230 South State Street is a 48-bed, 36-bath, multi-family home built in 1962.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of ARNI Realty Incorporated

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.