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    1547 N Silver Lane

    Palatine, IL 60074
    • $665,000
    • STATUS: Active Under Contract
    • ON SITE: 31 days
    • MLS #: 11193068
    Under Contract
    UPDATED: 38 min ago
    $665,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1981
    County:
    Area:

    School Ratings & Info

    Description

    Well Maintained 6 flat in Palatine, near Dundee Rd and Route 53. The entire subdivision is absolutely gorgous and all the buildings are very well kept with beautiful pond, park and stunning landscaping. Our All brick 6 flats features Five "2 bedroom" apartments and one "1 bedroom" apartment. Laundry machines on 1st floor are owned (for extra income). The list of upgrades is absolutely ENDLESS. New roof 2017, tucked-pointed 2019. Common areas washer 2019, dryer 2017, water heater 2013. Tenants pay their own electricity and heat. All units have newer electric water heaters within the last 6 years. All units have separate electric meters and all heat is electric baseboard. Owner pays ONLY water and electricity for laundry room and staircases. Association fee of $260/mo pays for exterior maintenance , garbage pick up, landscaping and snow removal. There are 16 parking permits per building and Visitor Stickers are available for $1 each. The building Fully rented (and very rarely has a vacancy). Mostly are long term tenants (since 1996, 2008, 2010..etc) The building has huge potential of increasing the income dramatically. ***FULL HUGE BASEMENT*** with storage rooms. Call Listing Broker today to schedule your showing appointment.

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Wexler Group | Keller Williams Preferred Realty. Based on information submitted to the MRED as of 2021-09-18T23:59:50.433 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    1547 N Silver Lane Palatine, IL 60074

    • Price: $665,000
    • Status: Active Under Contract
    • Updated: 38 min ago
    • MLS #: 11193068
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    1981
    Built
    Neighborhood:
    Palatine
    County:
    Cook
    Area:
    Palatine
    Property Description
    Well Maintained 6 flat in Palatine, near Dundee Rd and Route 53. The entire subdivision is absolutely gorgous and all the buildings are very well kept with beautiful pond, park and stunning landscaping. Our All brick 6 flats features Five "2 bedroom" apartments and one "1 bedroom" apartment. Laundry machines on 1st floor are owned (for extra income). The list of upgrades is absolutely ENDLESS. New roof 2017, tucked-pointed 2019. Common areas washer 2019, dryer 2017, water heater 2013. Tenants pay their own electricity and heat. All units have newer electric water heaters within the last 6 years. All units have separate electric meters and all heat is electric baseboard. Owner pays ONLY water and electricity for laundry room and staircases. Association fee of $260/mo pays for exterior maintenance , garbage pick up, landscaping and snow removal. There are 16 parking permits per building and Visitor Stickers are available for $1 each. The building Fully rented (and very rarely has a vacancy). Mostly are long term tenants (since 1996, 2008, 2010..etc) The building has huge potential of increasing the income dramatically. ***FULL HUGE BASEMENT*** with storage rooms. Call Listing Broker today to schedule your showing appointment.
    Exterior Features

    Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type Frontage RoadTownship Road Outdoor Parking 13-18 SpacesCommon ParkingLightedPaved Parking Total 16 Roof Composition Roof Structure Flat

    Interior Features

    Basement Cellar Cooling Wall Sleeve Heat Ventilation ElectricBaseboardSeparate Per Unit Miscellaneous Inside Storage InsideLaundry Room Number Of Dishwashers 6 Number Of Dryers 1 Number Of Ranges 6 Number Of Washers 1

    Property Features

    Additional Parcels YN No Approximate Age 36-50 Years Association Fee Includes ParkingLawn CareScavengerSnow Removal Building Area Total 5670 Built Before1978 YN No Contingency Attorney/Inspection Continue To Show Yes Current Use Multi-Family Electric Circuit BreakersSeparate Meters Fire Protection Alarm Monitored Gross Income 63960 Gross Scheduled Income 65670 Insurance Expense 2866 Maintenance Expense 0 Net Operating Income 41176 Operating Expense 11485 Ownership Types Individual Possible Use Condominium Tax Annual Amount 13006 Tax Year 2019 Tenant Pays ElectricityHeatHot Water Total Monthly Income 5330 Township Palatine Type Multi Family 5+ Utilities Sanitary SewerWater-Municipal Zoning Multi

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Re/Max At Home.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Wexler Group | Keller Williams Preferred Realty. Based on information submitted to the MRED as of 2021-09-18T23:59:50.433 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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