501 W Memory Ln, Mount Prospect, IL 60056
OFF MARKET

501 W Memory Ln
Mount Prospect, IL 60056

  • 3 Beds
  • 1 Bath
  • 992 sqft

$387,700

Trulia Estimate
as of Jul 15, 2026
Est. Refi. Payment $2,678/mo*
Refinance Your Home

$387,700

Trulia Estimate
as of Jul 15, 2026
Est. Refi. Payment $2,678/mo*
Refinance Your Home
3 Beds
1 Bath
992 sqft

Local Information

  • Map ViewExplore the area around 501 W Memory Ln.
  • Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

This single-family home is located at 501 W Memory Ln, Mount Prospect, IL. 501 W Memory Ln is in Mount Prospect, IL and in ZIP code 60056. This property has 3 bedrooms, 1 bathroom and approximately 992 sqft of floor space. This property has a lot size of 6502 sqft and was built in 1951.
501 W Memory Ln, Mount Prospect, IL 60056 is a 3 bedroom, 1 bathroom, 992 sqft single-family home built in 1951. It last sold for $210,000 on Jul 3, 2001. It is currently off market. The Trulia Estimate is $387,700, with a rent estimate of $2,875/month.

Home Highlights

Parking
Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
Less than a day ago

Home Details for 501 W Memory Ln

Interior Features

Interior Details
BasementAtticNumber of Rooms: 5
Heating & Cooling
Heating: Forced AirAir ConditioningCooling System: CentralHeating Fuel: Forced Air
Levels, Entrance, & Accessibility
Stories: 1

Exterior Features

Exterior Home Features
Roof: Shake ShingleExterior: Wood
Parking & Garage
GarageParking: Garage Attached

Property Information

Year Built
Year Built: 1951
Property Type / Style
Property Type: Single Family HomeArchitecture: Other

Community

Units in Building: 1

Lot Information

Lot Area: 6502 sqft

Price History for 501 W Memory Ln

DatePriceEventSource
07/03/2001$210,000Sold
N/A

Market trends in Mount Prospect

Last updated June 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$438K
$26KMoM
Sale-to-List Price
100.5%
1.3%MoM
Price per sq ft
$277
$13MoM
Available listings
132
5MoM
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Property Tax and Assessment

Year2024
Tax
Assessment$290,000
Home facts updated by county records

Comparable Sales for 501 W Memory Ln

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
410 N Russel St, Mount Prospect, IL
0.13
Single-Family Home
$280,000
01/08/26
4
1
1,000
321 N Fairview Ave, Mount Prospect, IL
0.15
Single-Family Home
$355,000
06/30/26
3
1
1,194
320 N Prospect Manor Ave, Mount Prospect, IL
0.14
Single-Family Home
$380,000
04/20/26
3
1
1,318
510 N Fairview Ave, Mount Prospect, IL
0.14
Single-Family Home
$425,000
06/16/26
3
1
1,156
618 N Wille St, Mount Prospect, IL
0.35
Single-Family Home
$300,000
05/20/26
3
1
1,080
416 N Eastwood Ave, Mount Prospect, IL
0.02
Single-Family Home
$468,000
02/20/26
3
2
1,143
406 N Prospect Manor Ave, Mount Prospect, IL
0.10
Single-Family Home
$397,000
07/10/26
3
2
1,069
504 N Russel St, Mount Prospect, IL
0.13
Single-Family Home
$365,000
05/05/26
3
1.5
1,060
706 N Main St, Mount Prospect, IL
0.43
Single-Family Home
$317,500
05/01/26
3
1
1,120
502 N Elmhurst Ave, Mount Prospect, IL
0.07
Single-Family Home
$550,000
05/01/26
3
2
1,290

Nearby homes

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Assigned Schools

These are the assigned schools for 501 W Memory Ln.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Mount Prospect

At least 376 Trulia users voted on each feature.

  • 84 % Say it's dog friendly

  • 84 % Say car is needed

  • 83 % Say there are sidewalks

  • 81 % Say parking is easy

  • 73 % Say there's holiday spirit

  • 70 % Say kids play outside

  • 69 % Say people would walk alone at night

  • 67 % Say yards are well-kept

  • 66 % Say it's walkable to restaurants

  • 65 % Say it's quiet

  • 58 % Say streets are well-lit

  • 56 % Say they plan to stay for at least 5 years

  • 54 % Say it's walkable to grocery stores

  • 52 % Say there's wildlife

  • 52 % Say neighbors are friendly

  • 42 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Zulennyb
    "Everyone walks their dogs with the leash on. In general, the dogs look calm and trained. I have been seeing the dog owners pick up the dogs poop."
    0
    Flag
  • Dc
    "This neighborhood is clean, safe and friendly. It has a beautiful public park that has been built and its open for everyone."
    0
    Flag
  • Life4u
    "Great place to live and raise family. Excellent schools and community. Hoping to raise our children here."
    0
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  • Myrvetehoxhaj
    "It is safe for kids, and around area are good playgrounds that your little one can make easily friends. "
    0
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  • Mohsin Mohammad
    "Well known very inclusive local flew markets events and many other amenities all big grocery stores are close by and easy access. "
    0
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  • Jillian
    "Commuter suburbs that also has everything you need. Plus friendly people. Good for families as the schools are rated well. "
    0
    Flag
  • Bledar
    "Love this area quite clean and school is good everything is close by my home "
    0
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  • Vicky Drebos
    "Excellent neighborhood. Great schools. Friendly neighborhoods. Easy to get to major highways and trains. Close to mall."
    0
    Flag
  • Zulennyb
    "My commute is comfortable because I have everything very close like restaurants, shopping centers, banks, parks and more."
    0
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  • Azeez Yusuf
    "Good environment is the major reason that the neighbors consider before moving to another location. My obey the neighbor requirement policy and every "
    0
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  • Jocelynn C.
    "there a lot of parks and open fields , to walk your dog . It’s overall a great place to live it’s very clean and quite ."
    2
    Flag
  • L.royal
    "Within walking distance of my home we have schools, parks, grocery shopping, and a train station. Power lines are buried on my block so we have very few issues with power."
    1
    Flag
  • L.royal
    "I am a dog owner and we have great parks within walking distance and even restaurants that allow the dogs to join when dining alfresco. They even will bring a water bowl for the pooch. We often plan our routes around locations to drop off mail in mailboxes and garbage cans for the poop. It’s a must to pick up after your pooch and keep them on a leash. Most homes in the area have good size to allow your dog to run around outside at home too. Biggest thing to watch out for are skunks and coyotes. Small dogs have even been known to disappear under the talons of a red tail hawk in the area. Our dog is black so our hot summers can be rough, we have learned to plan the longer walks for early mornings and later evenings. Is this 100 words yet. I am running out of things to say about dogs in the area."
    0
    Flag
  • Edgar M.
    "very friendly neighbourhood with lots to offer and many places to visit. lots to offer and very safe as well."
    0
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  • Lisa R
    "Mount Prospect is an amazing place to live. The schools are great. Our children have so many opportunities to try sports and music through our schools and park district. We can walk to shopping, restaurants, and the train. If looking to buy, walk the prospective neighborhood and strike up a conversation. We were sold on the neighborhood after we talked to our future neighbors."
    1
    Flag
  • Edgar M.
    "Neighborhood is very clean, very peaceful, and and very friendly area. People are very respectful and kind."
    0
    Flag
  • Kishan P.
    "I own a car. Buses takes lots of time for commute. So to make easy your transportation if you have a car in this neighborhood will make your day easy"
    2
    Flag
  • Abczsipe
    "you see people their dogs more then ever. We have all shapes and sizes. planty of space. people are great about cleaning up after their furry friends. no negative dog issues."
    2
    Flag
  • Mattyiq
    "best suburb. close to everything especially highways and airport. I can travel locally or internationally. Also the school district is amazing."
    0
    Flag
  • Abczsipe
    "love the fact young old. parks great schools very good sized houses. people take very goid care of yards. planty yard space. freidly neighborhood. kids riding bike. ect.."
    0
    Flag
  • Finley C.
    "Good sense of community and plenty of family activities with the park district and Library. The Library is fantastic and has a lovely children's section."
    0
    Flag
  • Pjfrayn
    "Family hometown feeling. A wonderful library, parks and schools. Well lighted and maintained Metra station."
    0
    Flag
  • Gerry M.
    "It’s a safe place to live and I couldn’t ask for a better place to live. I can take a walk at any time"
    0
    Flag
  • Ken F.
    "Lots of dogs, friendly neighbors who are dog friendly even if they don’t have a dog themselves, great place for dogs"
    0
    Flag
  • Dianferc7
    "good neighbors, safe and friendly. great location close to everything.. good schools in the area, restaurants and easy for shopping "
    0
    Flag
  • Hassna M.
    "Lovely neighborhood, nice neighbors and very helpful also great schools, every thing is almost around you- shopping, Entertainment, hospital. "
    0
    Flag
  • Ken F.
    "Reasonable driving to suburban office & quick and easy if taking metro downtown office, metro is very convenient "
    0
    Flag
  • Cathy P
    "Downtown block party and seasonal events, concerts, Friday’s on the Green in summer, concerts at the memorial bandshell, parades on 4 July and local carnival w/fireworks, terrific pools, recreation/fitness center, classes for all ages in a myriad of topic areas, great library, cute boutique shops/restaurants in downtown Mt. Prospect. Lots of options, but not overwhelming. "
    1
    Flag
  • Aumamimi
    "Easy access to several metra trains stations from walking distance to 10 min drive. Easy access to major highways and easy easy drive to ORD. Early flights (pre rush hour - 20 min) best location. "
    2
    Flag
  • Janicekessel
    "This area is unreal. I love the shopping, restaurants and outstanding park . Walking paths at Melis Park and Arlington lakes, rock. Best place to live in my book!"
    0
    Flag
  • bob c
    "Close to trains. Great school districts. Close to shopping etc. nice neighborhood with well maintained homes."
    1
    Flag
  • Stormyjl
    "Everything is close and convenient. I have grocery stores,restaurants,schools,parks, and gas stations within walking distance."
    0
    Flag
  • famendez73
    "Our neighborhood is unique because it has great schools, a strong heartwarming and welcoming community, cool outdoor mall and a small but awesome downtown area."
    1
    Flag
  • Daniel C.
    "Mount Prospect is a nice place to raise and family. It lies in Cook County so it is on the expensive side of housing costs. overall. I recommend Mount Prospect. "
    1
    Flag
  • Dave R. S.
    "it's safe, very convenient (restaurants,grocery stores,highways) and has great town library. I would recommend if your looking for a quite small suburban place to live. "
    1
    Flag
  • Janinepschoen
    "We just moved in a week ago and absolutely love the neighborhood, the people and the entire town of Mount Prospect. This is definitely out forever neighborhood. "
    1
    Flag

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Homes for sale near 501 W Memory Ln

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Off Market Homes Near 501 W Memory Ln

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