421 North Hicks Road

Palatine, IL 60067

$825,000
Last Sold Price
8
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Wonderful Location 8 Unit Building in the Heart of Palatine. Across from Marianos and just blocks from Downtown Palatine - Metra Shopping and Dining. All easily rented One Bedroom Units. Building has been fairly well maintained built in wall AC units, Paved Large Parking Area and Extended Grass Area 2 parking spaces per unit. Laundry and Storage on First Floor. Fully rented with leases. Taxes are currently paid under protest. Based on uniformity, the taxes for buildings on either side of this property...Wonderful Location 8 Unit Building in the Heart of Palatine. Across from Marianos and just blocks from Downtown Palatine - Metra Shopping and Dining. All easily rented One Bedroom Units. Building has been fairly well maintained built in wall AC units, Paved Large Parking Area and Extended Grass Area 2 parking spaces per unit. Laundry and Storage on First Floor. Fully rented with leases. Taxes are currently paid under protest. Based on uniformity, the taxes for buildings on either side of this property and the attorney who has already filed the appeal, taxes should be about $15,000 which will bring net income to $59,980 or the cap rate to 6.77 Great Oppportunity!

Listing Agents

  1. Matthew Mika

    Matthew Mika

    Listing Agent

    Compass

    matt.mika@compass.com

    P: 773.406.1792

  2. Norbert Mika

    Norbert Mika

    Alternative Listing Agent

    Compass

Property Details for 421 North Hicks Road

Area
Palatine
Township
Palatine
Num Of Parking Spaces
16.0

Location

Sold By Strauss Realty Ltd

Add your commute
LISTING UPDATED: 03/03/2022 07:59 PM

Property Details for 421 North Hicks Road

StatusClosed
MLS #11258348
Days on Market124
Taxes$24,029 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance
Year Built1961
Lot Size0.38 AC / 16,425 SF
CountyCook County

Location

Sold By Strauss Realty Ltd

Add your commute

Building Information for 421 North Hicks Road

Stories-Residences8Year Built1961Building Size-Lot Size0.38 AC / 16,425 SF

Payment Calculator

$6,505 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,502

Property Taxes

$2,002

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 421 North Hicks Road

General Information
Addtl Parking Information
  • Outdoor Parking: 13-18 Spaces
Location and General Information
  • Frontage Type: City Street
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Wall Sleeve
  • # Of Washers: 1
  • Heat/Ventilation: Electric
  • # Of Window/Ac: 8
  • # Of Refrigerators: 8
  • Washer/Dryer Lsd: No
  • Misc Inside: Storage Inside,Laundry Room
  • # Of Dryers: 1
  • Num of Baths: 0.0
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Exterior Entrance
  • Lot Dimensions: 75 X 218
  • Lot Size Square Feet: 16425.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Foundation Details: Concrete Perimeter
  • # Of Ranges: 8
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Multi-Family
  • Public Document Count: 0
  • Photos Count: 9
  • Deconversion: N
Miscellaneous
  • Current Use: Multi-Family
  • Location: Central Business District
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Electric Expense: $778.00
  • Fuel Expense: $.00
  • Gross Income: $84,420.00
  • Gross Scheduled Income: $85,560.00
  • Insurance Expense: $4,345.00
  • Maintenance Expense: $1,500.00
  • Electric Expense Source: Actual
  • Expense Year: 2020
  • Total Annual Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Net Operating Income Year: 2020
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 7035
  • Water Expense Source: Actual
  • Net Operating Income: $51,300.00
  • Operating Expense: $34,260.00
  • Other Expense: $.00
  • Trash Expense: $1,488.00
  • Water Sewer Expense: $1,590.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 5
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • 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: 2
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 421 North Hicks Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 421 North Hicks Road

Taxable ValueLand$16,425Additions$42,691Total$59,116
Tax Record2022$16,931 ($1,411 / month)
Home Facts
Stories3Lot Size16,425 SqFtStyleMulti-Family Res (5+ Units)Year Built1960CountyCOOKAPN02-14-400-053

Schools near 421 North Hicks Road

This home is within Township Hsd 211 School District.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Winston Campus Elementary School
PublicPK to 6

Winston Campus Jr High School
Public7 to 8

Palatine High School
Public9 to 12

Higgins Education Center
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.

Similar Homes

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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.

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.