505 W Front St Wheaton, IL 60187
Downtown Wheaton NeighborhoodEstimated payment $10,107/month
About This Home
This two-story 8-unit building offers a solid investment opportunity in an unbeatable location. Constructed in 1960, the property features durable concrete precast floors, a pitched roof, and encompasses approximately 6,100 square feet on an 8,700 square foot lot. It includes 12 parking spaces and convenient alley access. Three of the units have been completely renovated, with additional updates made throughout the property over the past year. The building includes onsite amenities such as a coin-operated washer and dryer in the basement, along with eight dedicated storage areas.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,237
Year Built
- Built in 1960
Home Design
- Gambrel Roof
- Brick Exterior Construction
- Composition Roof
- Concrete Perimeter Foundation
Interior Spaces
- 2-Story Property
Utilities
- Cooling System Mounted In Outer Wall Opening
- Radiant Heating System
Community Details
Overview
- 8 Units
Building Details
- Insurance Expense $4,700
- Maintenance Expense $4,685
- Manager Expense $6,247
- Other Expense $12,692
- Operating Expense $43,561
- Gross Income $154,680
- Net Operating Income $112,619
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2023 | $14,920 | $231,790 | $79,620 | $152,170 |
| 2022 | $13,368 | $207,840 | $75,240 | $132,600 |
| 2021 | $14,360 | $202,900 | $73,450 | $129,450 |
| 2020 | $13,641 | $201,010 | $72,770 | $128,240 |
| 2019 | $13,346 | $195,710 | $70,850 | $124,860 |
| 2018 | $13,869 | $191,490 | $69,320 | $122,170 |
| 2017 | $13,687 | $184,420 | $66,760 | $117,660 |
| 2016 | $12,890 | $177,050 | $64,090 | $112,960 |
| 2015 | $15,808 | $198,340 | $61,140 | $137,200 |
| 2014 | $14,848 | $187,580 | $57,820 | $129,760 |
| 2013 | $14,464 | $188,140 | $57,990 | $130,150 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/15/2025 07/15/25 | Pending | -- | -- | -- |
| 07/08/2025 07/08/25 | For Sale | $1,600,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,500,500 | National Title Solutions | |
| Warranty Deed | $830,000 | First American Title | |
| Warranty Deed | $750,000 | First American Title | |
| Special Warranty Deed | $637,500 | Ctic | |
| Special Warranty Deed | $637,500 | Ctic | |
| Quit Claim Deed | -- | Ctic |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,200,400 | Credit Line Revolving | |
| Previous Owner | $1,876,000 | Credit Line Revolving | |
| Previous Owner | $532,000 | Commercial | |
| Previous Owner | $1,040,000 | Commercial |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12413802
APN: 05-17-403-015
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