24134 Highway 53

Elwood, IL 60421

$585,000
Last Sold Price
15
Beds
9
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This exceptional property generates over $10,000 per month in rental income, offering a consistently strong revenue stream. Appraise at list price. Welcome to 24134 State Route 53, Elwood, IL 60421 - a phenomenal investment opportunity just a half-mile from the famous Chicagoland Speedway! This 2.6-acre cash cow is perfectly tailored for investors seeking cash flow multiunits, offering a unique blend of residential properties. This rare gem boasts three single-family homes and a fully rented duplex...This exceptional property generates over $10,000 per month in rental income, offering a consistently strong revenue stream. Appraise at list price. Welcome to 24134 State Route 53, Elwood, IL 60421 - a phenomenal investment opportunity just a half-mile from the famous Chicagoland Speedway! This 2.6-acre cash cow is perfectly tailored for investors seeking cash flow multiunits, offering a unique blend of residential properties. This rare gem boasts three single-family homes and a fully rented duplex apartment, all nestled within a prime location on Route 53. But that's not all! The property also features three expansive pole buildings (43x63, 41x92 & 33x75), all equipped with heated workshops, additional garages, and ample space for further development. The potential for growth and cash flow here is truly unparalleled! In-ground pool, city water, and sewer. Zoning is R-1B & B3. On 2 PIN numbers.
  1. Listed by Robert Miller • Vylla Home

Sold By Vylla Home

Property Details for 24134 Highway 53

Area
Elwood
Township
Jackson
Num of Interior Fireplaces
1
Zoning
MULTI

Location

Add your commute
LISTING UPDATED: 04/18/2024 03:00 AM

Property Details for 24134 Highway 53

StatusClosed
MLS #11924681
Days on Market161
Taxes$11,211 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1950
Lot Size2.65 AC / 115,500 SF
CountyWill County

Location

Add your commute

Building Information for 24134 Highway 53

Stories-Residences10Year Built1950Building Size-Lot Size2.65 AC / 115,500 SF

Payment Calculator

$4,127 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,193

Property Taxes

$934

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 24134 Highway 53

General Information
Addtl Parking Information
  • Outdoor Parking: 19-30 Spaces
  • Open Parking Spaces: 25.0
Location and General Information
  • Frontage Type: State Road
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air, Window Unit(s)
  • Electric: Circuit Breakers, Service - 101 to 200 Amps
  • # Of Washers: 0
  • Heat/Ventilation: Forced Air,Gas
  • # Of Window/Ac: 2
  • # Of Refrigerators: 5
  • Washer/Dryer Lsd: No
  • Misc Inside: Storage Inside
  • # Of Dryers: 0
  • # Of Disposals: 0
  • # Of Dishwashers: 1
  • Num of Baths: 9.0
Exterior Features
  • Misc Outside: Courtyard,Patio,Satellite Dish,Security Lighting,Storms and Screens (as exist),Other
Utilities / Equipment
  • Utilities: Sanitary Sewer, Water-Municipal
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Air Conditioning, Electricity, Heat, Sewer, Varies by Tenant
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Dimensions: 300X385
  • Lot Size Square Feet: 115500.0
  • Stories: 2
  • Fire Protection: None
  • # Of Ranges: 5
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Office and Research, Multi-Family
  • Buyer Financing: Conventional, Cash
  • Documents Available: Rent Roll
  • Public Document Count: 1
  • Document Date: 2024-03-13T22:10:39
  • Photos Count: 77
Miscellaneous
  • Location: Mixed Use Area
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
  • Virtual Tour Date: 03-17-2024
Multi Family
Multi-Family Information
  • Number Of Units Total: 10
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $113,220.00
  • Gross Scheduled Income: $113,220.00
  • Insurance Expense: $.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2022
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Janitor Expense: 0
  • Net Operating Income Year: 2022
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 9435
  • Water Expense Source: Owner Projection
  • Net Operating Income: $88,000.00
  • Operating Expense: $18,000.00
  • Other Expense: $.00
  • Trash Expense: $598.00
  • Water Sewer Expense: $600.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • 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: 1
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 1
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 1
Unit 5
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 4
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 24134 Highway 53

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 24134 Highway 53

Taxable ValueLand$19,200Additions$111,486Total$130,686
Tax Record2020$10,603 ($884 / month)
Home Facts
Lot Size89,734 SqFtStyleMiscellaneous CommercialCountyWILLAPN10-11-09-200-015

Schools near 24134 Highway 53

This home is within Elwood Community Consolidated School District 203.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Elwood Child Care School
PublicPK to 8

Joliet Central High School
Public9 to 12

Joliet Twp High School - Alternate
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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Vylla Home

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 04/18/2024 03:00 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.