Off Market Feb 2024 for $700K

—

Est. refi paymentEst. refi $3,833/mo

•

3,445

sq ft

516 S Michigan Ct, Addison, IL 60101

About this home

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.

Multi-familyProperty Type

1978Year Built

8,700 sq ftLot Size

$203Price/Sq.Ft.

Listed by David Pokorny • CNB Property Consultants, Inc

Bought with Sherwood Kraemer • RE/MAX Suburban

Redfin checked: a minute ago

•Source:MRED as Distributed by MLS Grid #11950895

Redfin Estimate

There isn’t enough information to generate an accurate estimate at this time. Learn More

Market trends in 60101, IL

Last updated August 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

100.7%

+0.0% MoM

Median sale price

$415K

$5K MoM

Avg. days on market

48d

1 days MoM

Recently sold homes

106

4 MoM

New listings for sale

$399,000
3 beds2 baths3,635 sq ft
201 S Yale Ave, Addison, IL 60101
$154,000
1 bed1 bath800 sq ft
215 S Hale St Unit 9B, Addison, IL 60101
OPEN SAT, 12PM TO 2PM
$410,000
3 beds2 baths1,219 sq ft
1101 N Millns Ln, Addison, IL 60101
$155,000
1 bed1 bath— sq ft
215 S Hale St Unit 6A, Addison, IL 60101
EARLY ACCESS
$799,900
4 beds3.5 baths4,368 sq ft
241 N Catalpa St, Addison, IL 60101
$595,000
4 beds3.5 baths2,323 sq ft
200 N Maple St, Addison, IL 60101
$519,900
5 beds2.5 baths2,442 sq ft
1734 W Rampart Rd, Addison, IL 60101
$579,000
2 beds2 baths1,754 sq ft
768 Eagle Ct, Addison, IL 60101
$549,000
3 beds2.5 baths2,778 sq ft
568 N Plamondon Dr, Addison, IL 60101
$485,000
3 beds2 baths2,400 sq ft
510 W Millns Ct, Addison, IL 60101
See all

Provided by Redfin

Sale history for 516 S Michigan Ct

Date

Event

Price

MRED as Distributed by MLS Grid #11950895

Feb 28, 2024

Sold (MLS) (Closed)

$700,000

$203/sq ft

Jan 26, 2024

Pending

—

Jan 11, 2024

Contingent (Contingent - No Showings)

—

Jan 3, 2024

Price Changed

$658,999

$191/sq ft

Dec 22, 2023

Listed (Active)

$659,000

$191/sq ft

MRED as Distributed by MLS Grid #11693048

Feb 10, 2023

Sold (MLS) (Closed)

$575,000

$167/sq ft

Jan 5, 2023

Contingent (Contingent - No Showings)

—

Dec 30, 2022

Listed (Active)

$599,538

$174/sq ft

Excellent DuPage County investment opportunity with no association dues! 5 units with 2, 1 bed units, 2, 2 bed units, & 1 large 2 bed unit that has potential to be converted to a 3 bedroom unit. Original hardwood floors in most units. Tenants pay electricity. Speed Queen laundry with new washer/dryer 2020. A new roof was installed in 2022. Property is located on a cul de sac, in a quiet neighborhood, and backs directly to Fullerton Elementary. Central location, easy access to Rt 83, North Avenue, Lake Street & Army Trail Road. Large laundry room, ample storage space. 2 parking stickers (numbered parking) provided per unit (included in rent). The bonus sized 2 bed unit has 3 parking spots. Long-term tenants provide stable cashflow with solid upside.

MRED as Distributed by MLS Grid #09720328

Nov 30, 2017

Sold (MLS) (Closed Sale)

$440,000

$128/sq ft

Oct 13, 2017

Contingent

—

Oct 13, 2017

Relisted (Reactivated)

—

Oct 2, 2017

Contingent

—

Sep 27, 2017

Price Changed

$459,000

$133/sq ft

Aug 14, 2017

Listed (New)

$469,000

$136/sq ft

Excellent investment opportunity! Solid all brick three story building with five total units. Unit one is an extra spacious garden apartment with two bedrooms, one and a half baths, a living room, and family room. Two other units are two bedroom and 1 bath, and the other two units are one bedroom and one bath. All units are in good condition, with good occupancy and low turnover rate. Additional income from owned coin washer and dryer. Great investment property located in a quiet court and backing up to an elementary school.

MRED as Distributed by MLS Grid #09341926

Aug 13, 2017

Listing Removed

—

Aug 4, 2017

Relisted (Reactivated)

—

May 19, 2017

Contingent

—

May 18, 2017

Price Changed

Apr 3, 2017

Price Changed

Jan 4, 2017

Price Changed

Sep 14, 2016

Listed (New)

Public Records

Jun 11, 2009

Sold

$355,000

$103/sq ft

MRED as Distributed by MLS Grid #07055422

Jun 3, 2009

Listing Removed

—

May 20, 2009

Contingent

—

Mar 23, 2009

Price Changed

$122/sq ft

Jan 28, 2009

Price Changed

$138/sq ft

Nov 18, 2008

Price Changed

$144/sq ft

Oct 22, 2008

Listed

$151/sq ft

MRED as Distributed by MLS Grid #06496708

Jul 12, 2007

Listing Removed

—

Apr 30, 2007

Listed

MRED as Distributed by MLS Grid #06389513

Apr 21, 2007

Listing Removed

—

Jan 22, 2007

Listed

** Price available after signing in.

Year

Property tax

Land + Additions

Assessment*

2024

$11,566 (+4.2%)

$65,638 + $98,457

$164,095

2023

$11,105 (+4.9%)

$60,340 + $90,510

$150,850

2022

$10,581 (+4.1%)

$57,470 + $86,200

$143,670

2021

$10,164 (+2.5%)

$55,050 + $82,570

$137,620

2020

$9,914 (+0.4%)

$52,730 + $79,090

$131,820

2019

$9,870 (−4.1%)

$50,700 + $76,050

$126,750

2018

$10,289 (+2.3%)

$50,700 + $76,050

$126,750

2017

$10,055 (+2.2%)

$48,460 + $72,680

$121,140

2016

$9,843 (+1.9%)

$44,740 + $67,100

$111,840

2015

$9,658 (+21.7%)

$41,330 + $61,990

$103,320

2013

$7,933 (+3.3%)

$21,990 + $65,980

$87,970

2012

$7,680 (+5.0%)

$23,480 + $70,450

$93,930

2011

$7,315 (−22.2%)

$26,120 + $78,370

$104,490

2010

$9,400 (+2.6%)

$29,730 + $118,910

$148,640

2009

$9,162 (+2.6%)

$32,690 + $130,760

$163,450

2008

$8,927 (+6.6%)

$32,690 + $130,760

$163,450

2007

$8,373

$30,380 + $121,520

$151,900

Tax history for 516 S Michigan Ct

Year

Property tax

Land + Additions

Assessment*

2024

$11,566 (+4.2%)

$65,638 + $98,457

$164,095

2023

$11,105 (+4.9%)

$60,340 + $90,510

$150,850

2022

$10,581 (+4.1%)

$57,470 + $86,200

$143,670

2021

$10,164 (+2.5%)

$55,050 + $82,570

$137,620

2020

$9,914 (+0.4%)

$52,730 + $79,090

$131,820

2019

$9,870 (−4.1%)

$50,700 + $76,050

$126,750

2018

$10,289 (+2.3%)

$50,700 + $76,050

$126,750

2017

$10,055 (+2.2%)

$48,460 + $72,680

$121,140

2016

$9,843 (+1.9%)

$44,740 + $67,100

$111,840

2015

$9,658 (+21.7%)

$41,330 + $61,990

$103,320

2013

$7,933 (+3.3%)

$21,990 + $65,980

$87,970

2012

$7,680 (+5.0%)

$23,480 + $70,450

$93,930

2011

$7,315 (−22.2%)

$26,120 + $78,370

$104,490

2010

$9,400 (+2.6%)

$29,730 + $118,910

$148,640

2009

$9,162 (+2.6%)

$32,690 + $130,760

$163,450

2008

$8,927 (+6.6%)

$32,690 + $130,760

$163,450

2007

$8,373

$30,380 + $121,520

$151,900

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Permits

Beds

Baths

5.5

Stories

Lot width

—

Lot depth

—

Lot size

8,700

Year renovated

—

Sq. Ft.

3,445

Year built

1978

Style

Multi-Family (5+ Unit)

County

DuPage County

APN

0333201015

Parking Spaces

—

Basement

Accessible

HOA Dues

—

Garage

Features

—

Last updated by owner on Jul 15, 2024.

Property details

Parking

Parking Information
Outdoor Parking: 6-12 Spaces,Assigned Spaces

Interior

Equipment
# Of Ranges: 5
# Of Washers: 1
# Of Dryers: 1
Washer/Dryer Lsd (Y/N): No

Unit Type 1 Information
# of Rooms: 6
# of Bedrooms: 2
# of Bathrooms (Total): 1
# of Full Bathrooms: 1.1
# of Units: 1
Monthly Income: $1,200
Monthly Income Max: $1,200

Unit Type 2 Information
# of Rooms: 4
# of Bedrooms: 2
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 2
Monthly Income: $1,200
Monthly Income Max: $1,200

Unit Type 3 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 3
Monthly Income: $950
Monthly Income Max: $950

Unit Type 4 Information
# of Rooms: 4
# of Bedrooms: 2
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 4
Monthly Income: $1,200
Monthly Income Max: $1,200

Unit Type 5 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 5
Monthly Income: $1,350
Monthly Income Max: $1,350

Exterior

Building Information
# of Units: 5
Exterior Building Type: Brick
Built Before 1978 (Y/N): No
Roof: Composition, Fiberglass
Roof Structure: Gable
Foundation Details: Concrete Perimeter
Construction Materials: Brick

Property Information
Property Type: Multi Family 5+
Parcel Number: 0333201015

Lot Information
Dimensions: 60X145
Frontage Type: City Street
Zoning: MULTI

Financial

Tax Information
Tax Annual Amount: $10,582
Tax Year: 2022

Financial Information
Finance Code: Conventional
Gross Rent Multiplier: 9.24
Total Monthly Income: $5,900
Gross Income: $70,800

Utilities

Utility Information
Electric: Separate Meters

Heating & Cooling
Heat/Ventilation: Central Bldg Heat,Gas,Hot Water,Baseboard
Cooling: Window Unit(s)
# Of Window/Ac: 4

Location

Location Information
Directions: ADDISON RD. TO LORRAINE E. TO MICHIGAN CT. TURN LEFT.

Public facts

Beds: 8
Baths: 5.5
Sq. Ft.: 3,445
Stories: —
Parking Spaces: —
Basement: No
Accessible: No
Lot Size: 8,700 square feet
Style: Multi-Family (5+ Unit)
Year Built: 1978
Year Renovated: —
County: DuPage County
APN: 0333201015
HOA Dues: —
Garage: No
Features: —

Home facts updated by owner on Jul 15, 2024

Other

Expense Information
Water Sewer Expense: $4,877
Water Expense Source: Actual
Electric Expense: $423
Insurance Expense: $2,303

Listing Information
Possession: Closing
Some Photos Virtually Staged?: No

Around this home

Schools

Fullerton Elementary School

Public K-5 • Assigned • 0.1mi

5/10

Indian Trail Junior High School

Public 6-8 • Assigned • 1.2mi

5/10

Addison Trail High School

Public 9-12 • Assigned • 2.1mi

9/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 102° expected this year, 14 days in 30 years

2/10 Wind Factor

Minor risk of severe winds over next 30 years

4/10 Air Factor

4 unhealthy days expected this year, 5 days in 30 years

Provided by First Street

Historical weather

Addison, IL • 60101

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 10.3 hours in June and 3.4 hours in December, placing it below the U.S. average for solar exposure.

10.3 hrs

3.4 hrs

JuneDecember

Provided by Shadowmap

Is this your home?

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New listings for sale in 60101

$399,000

3 beds2 baths3,635 sq ft

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$154,000

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OPEN SAT, 12PM TO 2PM

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Home values near 516 S Michigan Ct

Data from public records.

Address	Redfin Estimate
520 South Michigan Ct, Addison, IL 10 Beds \| 6 Baths \| 6000 Sq. Ft.	—
528 South Michigan Ct, Addison, IL 39 Beds \| 21 Baths \| - Sq. Ft.	—

Address	Redfin Estimate
525 South Michigan Ct, Addison, IL - Beds \| - Baths \| 3816 Sq. Ft.	—
537 South Michigan Ct, Addison, IL - Beds \| - Baths \| 4453 Sq. Ft.	—

Address	Redfin Estimate
521 South Michigan Ct, Addison, IL - Beds \| - Baths \| 3816 Sq. Ft.	—
536 South Michigan Ct, Addison, IL - Beds \| - Baths \| 4453 Sq. Ft.	—

Property information provided by MRED as Distributed by MLS Grid when last listed in 2023. This data may not show owner updates. Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Redfin Estimate

Market trends in 60101, IL

Sale history for 516 S Michigan Ct

Tax history for 516 S Michigan Ct

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Is this your home?

Nearby similar homes

New listings for sale in 60101

Home values near 516 S Michigan Ct

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