- Address: 119 Ellsworth Street
- City: Naperville
- State: IL
- Zip: 60540
- Country: United States
- Municipality: Lisle
- County: Du Page
- Property Type: Multi-Family
- Additional Types: Retail
- Year Built: 1915
- Lot Size: .12 Acres
- Beds: 4
- Full Baths: 2.00
- Half Baths: 1
- Square Feet: 3,300
- Data Source: Midwest Real Estate Data, LLC
High quality craftsmanship throughout this beautiful multi-unit property in a prime location in downtown Naperville's Historic District. Exquisite details are evident in this amazing renovated property. Solid American cherry floors, cherry cabinetry in kitchens with walnut panels and glue chip glass display cabinets. SS appliances, granite counters. 5-panel doors & lavish wood trim. Updated bathrooms w/whirlpool tubs, separate showers, stone vanities & tiled floors. A law firm occupies the 1st floor unit. Top unit is currently a residence. Private 2nd floor staircase was designed to convert home back to a single family residence. 2-story family & dining rooms w/loft above & built-in bar in 2nd floor unit. 3 porches, brick paver patio, detached 2-car garage w/alley access. The renovations excellently paired the old with the new in this historic home built in 1915. Must see to appreciate. 3,973 Total Square Feet. 1st flr=1,504, 2nd flr=1752, 3rd flr=717. Bsmnt 768 sq. ft.
Jefferson to Ellsworth, N to Home
Check out local attractions near this property.
As is true with any major purchase, you should thoroughly investigate your investment before you go through with a real estate transaction. Always do your homework. Although it may be tempting to purchase a property without taking time to dig into it, we do not recommend it. Here are a few suggestions:
- Read the contract in full.
- If possible, physically visit the property.
- If the property is a multi-family, acquire rental history, vacancy rates, etc.
- Know the area in which you are buying, so you know what to expect of that market.
- Consult a local broker.
If a buyer is not certain that he or she want to purchase a particular property, then that buyer is advised not to bid on the property. If a buyer has not inspected and/or not performed due diligence on a property and desires to do so before purchasing the property, then that buyer is also advised not to bid on the property. As always, feel free to contact a Micoley representative at 888-869-5672 with any further questions.
Tips for Buying a Home
So you’ve decided to buy a home? Congrats, that’s great!
Here are some great tips to get you on your way to home ownership.
1. Determine Your Budget & Save
Take into account the average down-payment is 10%. 10%
is not required, but the loan amount and approval will fluctuate depending on the percentage you put
down. Determine how much you can pay for your monthly mortgage. Outline your expenses and be honest
with yourself about what you can reasonably afford. Also, ask yourself what happens if you lose your
job? Or if you’re part of a couple, what happens if your spouse loses their job?
2. Secure a Loan
Once you’ve got your budget in order, it’s time to go shopping for a
loan. Visit multiple lenders to weigh your options and find the best deal. Each bank will determine
if you are eligible and at what interest rate you will be charged. based on your financial
situation. Make sure to ask questions such as what the breakdown of the monthly payments will be
once you have made your down payment, how the loan term will affect your monthly payments, whether
or not the interest rate is fixed or variable, if home insurance or any other services are included
within the home purchase amount.
3. Be Prepared
Have a current Pre-qualification letter and good faith deposit funds
available. Technology makes it easier than ever for your real estate agent to draft and transmit a
purchase offer back and forth for your signatures. But, this is only one piece of the puzzle. You
also need a current pre-qualification letter, and ready access to your good faith deposit. This can
be obtained from the bank and confirms their willingness to give you a loan. Most sellers won’t
accept a letter that’s more than three months old. If your home search lasts for more than three
months, you’ll need an updated pre-qualification letter. When you submit your offer, it must include
a check for the good faith deposit. Generally, good faith is at least 3% of the purchase price. This
check will be deposited into an escrow account within three days of an accepted offer.
4. Stay Informed
Always make sure to do your homework and learn the history on a
property you are interested in. Does the neighborhood have a high crime rate or a new highway/major
road being constructed nearby that could be affecting the price? Is the heating, plumbing, roofing
and window work in good condition? Those hidden problems can lead to major expenses in the future -
post purchase. Ask your realtor for a property condition report and and see if the home comes
pre-inspected. If not, we highly recommended to get and inspection before the purchase is complete.
Being “in-the-know” and taking the extra steps can save you money and headaches in the long run.