SOLD BY REDFIN AUG 22, 2025

Off market aug 2025 for $340K

$342,269

Est. refi paymentEst. refi $2,289/mo

•

1,783

sq ft

516 Madison Ln, Elgin, IL 60123

About this home

Move right into this beautifully maintained and updated townhome featuring 2 bedrooms, 2.5 bathrooms, and a spacious loft that can easily be converted into a third bedroom. The soaring ceilings and open-concept layout create a bright and airy atmosphere, seamlessly connecting the living room with cozy fireplace, dining area, eat-in space, and kitchen-perfect for both entertaining and everyday living. You'll love the luxury vinyl flooring, updated bathrooms, and the primary suite complete with a walk-in closet and private ensuite bath. The full unfinished basement offers endless possibilities to add additional living space or create your dream rec room. Enjoy the convenience of a 2-car garage and a location that's equidistant to Route 20 and I-90 for easy commuting. Just minutes to all the shopping, dining, and amenities along Randall Road-this one truly has it all and won't last long!

TownhomeProperty Type

2005Year Built

2,288 sq ftLot Size

$192Est. Price/Sq.Ft.

2 car garageParking

Seller's agent

Christy Alwin Redfin Corporation

Bought with Toni Favia • TNT Realty, Inc.

Redfin checked: 3 minutes ago

•Source:MRED as Distributed by MLS Grid #12407605

Redfin Estimate

$342,269

$2,269 since sold in August 2025$2,000 since September

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 7% lower than the average sale price ($368K) of 6 comparable homes.

SOLD NOV 18, 2025
$310,000
A
2 beds2.5 baths1,771 sq ft
514 Madison Ln, Elgin, IL 60123
SOLD JUN 30, 2026
$335,000
B
2 beds2 baths1,904 sq ft
919 Millcreek Cir, Elgin, IL 60123
SOLD SEP 1, 2026
$400,000
C
4 beds2.5 baths1,896 sq ft
2130 Valley Creek Dr, Elgin, IL 60123
SOLD BY REDFIN MAR 20, 2026
$333,700
D
2 beds2.5 baths1,783 sq ft
550 Madison Ln, Elgin, IL 60123
BOUGHT WITH REDFIN DEC 5, 2025
$420,000
E
3 beds2 baths2,083 sq ft
515 Madison Ln, Elgin, IL 60123
SOLD JUL 31, 2026
$410,000
F
3 beds3 baths2,000 sq ft
2039 Belvidere Line Dr, Elgin, IL 60123

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Earn from this home

Sell

$58,853

Est. take-home

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Est. cash available

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Rent

$1,575/mo

Redfin rental estimate

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Market trends in 60123, IL

Last updated September 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-list price

101.0%

0.3% MoM

Median sale price

$320K

$8K MoM

Avg. days on market

41d

2 days MoM

Recently sold homes

136

4 MoM

New listings for sale

NEW 1 HR AGO
$245,000
2 beds2 baths1,008 sq ft
1820 W Highland Ave Unit D, Elgin, IL 60123
OPEN SAT, 11AM TO 1PM
$229,900
2 beds1 bath1,000 sq ft
186 S Lyle Ave, Elgin, IL 60123
OPEN SAT, 2PM TO 4PM
$294,500
2 beds2 baths1,623 sq ft
164 S Du Bois Ave, Elgin, IL 60123
$329,900
3 beds1.5 baths1,326 sq ft
932 Forest Dr, Elgin, IL 60123
NEW 29 HRS AGO
$249,900
2 beds1 bath1,044 sq ft
1168 Erie St, Elgin, IL 60123
NEW 31 HRS AGO
$421,000
3 beds2 baths1,248 sq ft
36W155 Weld Rd, Elgin, IL 60123
NEW 32 HRS AGO
$93,000
2 beds2 baths975 sq ft
801 N Mclean Blvd #222, Elgin, IL 60123
$459,900
4 beds2.5 baths2,623 sq ft
2205 Jordan Ln, Elgin, IL 60123
$249,000
4 beds2 baths1,407 sq ft
101 S Union St, Elgin, IL 60123
$269,900
3 beds1 bath— sq ft
952 Larkin Ave, Elgin, IL 60123
See all

Provided by Redfin

Sale history for 516 Madison Ln

Date

Event

Price

MRED as Distributed by MLS Grid #12407605

Aug 22, 2025

Sold (MLS) (Closed)

$340,000

$191/sq ft

Aug 18, 2025

Pending

—

Jul 25, 2025

Contingent (Contingent - Continue to Show)

—

Jul 15, 2025

Price Changed

$339,900

$191/sq ft

Jul 3, 2025

Listed (Active)

$349,900

$196/sq ft

MRED as Distributed by MLS Grid #09606201

Jun 22, 2017

Sold (MLS) (Closed Sale)

$217,500

$122/sq ft

May 5, 2017

Pending (Contingent (Do Not Show))

—

Apr 25, 2017

Listed (New)

$217,500

$122/sq ft

+16

Welcome to this spacious 2 Story Townhome in a premium location backing to a Park boasting Vaulted Ceilings in the Living Room with Gas Log Fireplace, 2 Story Open Dining Room, Kitchen features NEW Stainless Steel Appliances and nice durable Wood Laminate floors, 1st Floor Laundry room, Vaulted Master Suite boasting a Large Walk-in Closet and a Luxury Bath, Large Loft great for a home office/playroom or can be converted to 3rd Bedroom, NEW Upgraded Carpet Throughout! Full Unfinished English Basement ready to be finished, Freshly Painted throughout in a Neutral Color! New Washer and more! Close to Randall Road, Sherman Hospital and easy access to Major Expressway! Don't miss out on a great home in a great location!!!

MRED as Distributed by MLS Grid #09567702

Apr 25, 2017

Listing Removed

—

Year

Property tax

Land + Additions

Assessment*

2025

$6,974 (+2.0%)

$28,236 + $73,176

$101,412

2024

$6,835 (+5.0%)

$28,236 + $73,176

$101,412

2023

$6,512 (+5.8%)

$26,007 + $67,400

$93,407

2022

$6,152 (+4.6%)

$23,495 + $60,891

$84,386

2021

$5,883 (+2.9%)

$21,423 + $55,522

$76,945

2020

$5,716 (+3.0%)

$20,029 + $51,909

$71,938

2019

$5,549 (−6.5%)

$18,214 + $47,204

$65,418

2018

$5,935 (+2.3%)

$18,214 + $47,204

$65,418

2017

$5,804 (+4.8%)

$17,159 + $48,875

$66,034

2016

$5,537 (+1.4%)

$16,221 + $46,204

$62,425

2015

$5,460 (+30.2%)

$15,049 + $42,865

$57,914

2013

$4,195 (−8.7%)

$13,983 + $33,208

$47,191

2012

$4,597 (−2.6%)

$13,983 + $33,208

$47,191

2011

$4,719 (−5.7%)

$15,104 + $35,870

$50,974

2010

$5,001 (+2.9%)

$18,714 + $44,444

$63,158

2009

$4,862 (−1.5%)

$18,714 + $44,444

$63,158

2008

$4,938 (+156.9%)

$20,062 + $51,280

$71,342

2007

$1,922

$2,133 + $23,159

$25,292

Tax history for 516 Madison Ln

Year

Property tax

Land + Additions

Assessment*

2025

$6,974 (+2.0%)

$28,236 + $73,176

$101,412

2024

$6,835 (+5.0%)

$28,236 + $73,176

$101,412

2023

$6,512 (+5.8%)

$26,007 + $67,400

$93,407

2022

$6,152 (+4.6%)

$23,495 + $60,891

$84,386

2021

$5,883 (+2.9%)

$21,423 + $55,522

$76,945

2020

$5,716 (+3.0%)

$20,029 + $51,909

$71,938

2019

$5,549 (−6.5%)

$18,214 + $47,204

$65,418

2018

$5,935 (+2.3%)

$18,214 + $47,204

$65,418

2017

$5,804 (+4.8%)

$17,159 + $48,875

$66,034

2016

$5,537 (+1.4%)

$16,221 + $46,204

$62,425

2015

$5,460 (+30.2%)

$15,049 + $42,865

$57,914

2013

$4,195 (−8.7%)

$13,983 + $33,208

$47,191

2012

$4,597 (−2.6%)

$13,983 + $33,208

$47,191

2011

$4,719 (−5.7%)

$15,104 + $35,870

$50,974

2010

$5,001 (+2.9%)

$18,714 + $44,444

$63,158

2009

$4,862 (−1.5%)

$18,714 + $44,444

$63,158

2008

$4,938 (+156.9%)

$20,062 + $51,280

$71,342

2007

$1,922

$2,133 + $23,159

$25,292

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

Public record

Beds

—

Baths

—

Stories

—

Lot width

26 ft.

Lot depth

—

Lot size

1,999 Sq. Ft.

Year renovated

—

Sq. Ft.

—

Year built

—

Style

Single Family Residential

County

Kane County

APN

0609376035

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Sep 8, 2026.

Property details

Parking

Parking Information
# of Garage Spaces: 2
# of Parking (Total): 2
Parking Features: Asphalt, Garage Door Opener, On Site, Garage Owned, Attached, Garage

Interior

Bathroom Information
# of Baths (Full): 2
# of Baths (1/2): 1
Bath Amenities: Separate Shower,Double Sink,Soaking Tub

Bedroom Information
# of Bedrooms: 2
# of Bedrooms Possible: 2

Room Information
Room Type: Loft
Level: Main
Dimensions: 14 x 14
Flooring: Wood Laminate

Room Information
Room Type: Breakfast Room
Level: Main
Dimensions: 10 x 7
Flooring: Wood Laminate

Room Information
Room Type: Walk In Closet
Level: Second
Dimensions: 17 x 6
Flooring: Wood Laminate

Room Information
Room Type: Foyer
Level: Main
Dimensions: 14 x 9
Flooring: Wood Laminate

Room Information
Room Type: Bedroom 2
Level: Second
Dimensions: 12 x 10
Flooring: Wood Laminate

Room Information
Room Type: Bedroom 3

Room Information
Room Type: Bedroom 4

Room Information
Room Type: Dining Room
Level: Main
Dimensions: 15 x 14
Flooring: Wood Laminate

Room Information
Room Type: Family Room

Room Information
Room Type: Kitchen
Type: Eating Area-Breakfast Bar,Breakfast Room,Granite Counters,Updated Kitchen
Level: Main
Dimensions: 11 x 10
Flooring: Wood Laminate

Room Information
Room Type: Laundry
Level: Main
Dimensions: 8 x 6
Flooring: Wood Laminate

Room Information
Room Type: Living Room
Level: Main
Dimensions: 17 x 14
Flooring: Wood Laminate

Room Information
Room Type: Master Bedroom
Level: Second
Dimensions: 22 x 13
Flooring: Wood Laminate
Bath: Full

Additional Rooms Information
Dining Room: Combined w/ LivRm
Basement: Unfinished, Full
Laundry Features: Main Level, Washer Hookup, In Unit

Interior Features
Interior Features: Walk-In Closet(s), Open Floorplan
# of Rooms: 7
Flooring: Laminate

Equipment
Appliances: Range, Microwave, Washer, Dryer, Stainless Steel Appliance(s)
Ceiling Fan(s), Sump Pump

Fireplace Information
# of Fireplaces: 1
Fireplace Location: Living Room
Fireplace Features: Gas Log

Exterior

Exterior Features
Patio And Porch Features: Deck

Building Information
# Of Units in Building: 5
Living Area Source: Assessor
Age: 16-20 Years
Built Before 1978 (Y/N): No
Roof: Asphalt
Foundation Details: Concrete Perimeter
Construction Materials: Aluminum Siding, Brick

Property Information
Entry Level: 1
Property Type: Attached Single
Property Type: Townhouse-2 Story
Model: BIRCH
Ownership: Fee Simple w/ HO Assn.
Property Currently Being Leased: No
Rebuilt (Y/N): No
Rehab (Y/N): No
General Information: Interstate Access
Parcel Number: 0609376035

Lot Information
Dimensions: 26X88
Lot Size Source: County Records
Lot Features: Common Grounds

Financial

Tax Information
Tax Annual Amount: $6,511.54
Tax Year: 2023
Tax Exemptions: Homeowner

Financial Information
Finance Code: Conventional
Special Service Area: N

Utilities

Utility Information
Water Source: Public
Sewer: Public Sewer
Electric: Circuit Breakers

Heating & Cooling
Heating: Natural Gas, Forced Air
Cooling: Central Air

Location

Community Information
Pets Allowed (Y/N): Yes
Pets Allowed: Cats OK, Dogs OK
Max Pet Weight: 999

Homeowners Association Information
Association Fee: $260
Association Fee Frequency: Monthly
Association Fee Includes: Insurance, Exterior Maintenance, Lawn Care, Snow Removal
Master Association Fee Frequency: Not Required

School Information
Elementary School District: 46
Elementary School: Creekside Elementary School
Middle Or Junior School District: 46
Middle Or Junior School: Kimball Middle School
High School District: 46
High School: Larkin High School

Location Information
Subdivision Name: Madison Homes
Township: Elgin
Corporate Limits: Elgin
Directions: RANDALL N OF RT 20 TO HIGHLAND EAST TO MADISON NORTH TO HOME #516

Public facts

Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: 1,999 square feet
Style: Single Family Residential
Year Built: —
Year Renovated: —
County: Kane County
APN: 0609376035

Home facts updated by county records on Sep 8, 2026

Other

Listing Information
Holds Earnest Money: No
Possession: Closing
Some Photos Virtually Staged?: No

Around this home

Schools

Creekside Elementary School

Public PreK-6 • Assigned • 0.5mi

6/10

Kimball Middle School

Public 7-8 • Assigned • 1.0mi

3/10

Larkin High School

Public PreK-12 • Assigned • 1.2mi

3/10

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 101° expected this year, 14 days in 30 years

2/10 Wind Factor

1% chance of strong winds in next 30 years

2/10 Air Factor

1 unhealthy days expected this year, 2 days in 30 years

Provided by First Street

Historical weather

Elgin, IL • 60123

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 10.2 hours in June and 3.4 hours in December, placing it below the U.S. average for solar exposure.

10.2 hrs

3.4 hrs

JuneDecember

Provided by Shadowmap

Estimated sale price

$326,000 – $394,000

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New listings for sale in 60123

NEW 1 HR AGO

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$229,900

2 beds1 bath1,000 sq ft

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NEW 29 HRS AGO

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1168 Erie St, Elgin, IL 60123

NEW 31 HRS AGO

$421,000

3 beds2 baths1,248 sq ft

36W155 Weld Rd, Elgin, IL 60123

NEW 32 HRS AGO

$93,000

2 beds2 baths975 sq ft

801 N Mclean Blvd #222, Elgin, IL 60123

$459,900

4 beds2.5 baths2,623 sq ft

2205 Jordan Ln, Elgin, IL 60123

$249,000

4 beds2 baths1,407 sq ft

101 S Union St, Elgin, IL 60123

Home values near 516 Madison Ln

Data from public records.

Address	Redfin Estimate
515 Madison Ln, Elgin, IL 3 Beds \| 2 Baths \| 2083 Sq. Ft.	$434,281
519 Madison Ln, Elgin, IL 3 Beds \| 2 Baths \| 2092 Sq. Ft.	$435,456

Address	Redfin Estimate
523 Madison Ln, Elgin, IL 3 Beds \| 2 Baths \| 2000 Sq. Ft.	$452,804
531 Madison Ln, Elgin, IL 3 Beds \| 2 Baths \| 2100 Sq. Ft.	$453,366

Address	Redfin Estimate
516 Madison Ln Apt 512, Elgin, IL - Beds \| - Baths \| - Sq. Ft.	$291,043
535 Madison Ln, Elgin, IL 3 Beds \| 2 Baths \| 2092 Sq. Ft.	$501,607

Property information provided by MRED as Distributed by MLS Grid when last listed in 2025. This data may not match . Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Redfin Estimate

Earn from this home

Market trends in 60123, IL

Sale history for 516 Madison Ln

Tax history for 516 Madison Ln

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Nearby similar homes

New listings for sale in 60123

Home values near 516 Madison Ln

More real estate resources