Palatine, IL 60074,1516 Crimson Lane
$775,000
$750,000
3.3%
Est.Price: ?

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5,832 SqFt

1516 Crimson Lane Palatine, IL 60074

Est. payment /mo
SOLD DATE : 04/01/2024

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Key Details

Sold Price $775,000

Property Type Commercial

Sub Type Multi Family 5+

Listing Status Sold

Purchase Type For Sale

Square Footage 5,832 sqft

Price per Sqft $132

MLS Listing ID 11974689

Sold Date 04/01/24

Year Built 1982

Annual Tax Amount $16,236

Tax Year 2022

Lot Size 2,613 Sqft

Lot Dimensions 49X55

Property Description

MULTIPLE OFFERS RECEIVED. OFFER DEADLINE 02/11/2024 @ 7PM. Welcome to this well-maintained six-unit residential property conveniently located near Dundee Rd and Rt 53 in the Silver Lake community. Consisting of five spacious two-bedroom apartments and one cozy one-bedroom unit, all of which are currently occupied by long-term, reliable tenants. Nestled in a quiet location, with all units having great views of a pond from their living rooms and balconies. Tenants are responsible for covering their own electricity and heating expenses. The building offers an on-site laundry room situated on the first floor with new washer and dryer units, ensuring efficient laundry services exclusively for the residents, and a full basement for additional storage. The property owner takes care of water expenses, as well as electricity costs for the laundry room and common areas. Vacancies are a rarity in this sought-after complex. The building's exterior is constructed with durable brick, which promises longevity with minimal maintenance requirements. Landscaping surrounding the property, snow removal, a recently paved parking lot, and trash removal are all maintained by the Association. This is a great real estate investment opportunity. Preferably sold as a package with adjacent 1514 Crimson Ln MLS#11974506. Schedule your viewing today!

Location

State IL

County Cook

Zoning MULTI

Interior

Cooling Wall Sleeve, Window Unit(s)

Fireplace Y

Exterior

Utilities Available Water-Municipal

View Y/N true

Building

Foundation Concrete Perimeter

Structure Type Brick

Others

HOA Fee Include Parking,Exterior Maintenance,Lawn Care,Scavenger,Snow Removal

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Listed by Mariusz Misiewicz • Homesmart Connect LLC
Bought with Rutul Parekh • ARNI Realty Incorporated

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Sharie Jackson

Realtor | License ID: 475.180534

+1(708) 231-8901

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