516 Madison Ln, Elgin, IL 60123
Property image
Property image
OFF MARKET

$361,200

Trulia Estimate
  • 2 Beds
  • 2.5 Baths
  • 1,783 sqft

516 Madison Ln, Elgin, IL 60123

Valley Creek
Est. Refi. Payment $2,666/mo*
Refinance Your Home
Currently Off Market - Sold Aug 22, 2025 for $340,000

Home Value

Trulia Estimate
$361K
Since last month
Increased$10K (+2.9%)
Since last year
Increased$22K (+6.4%)
Since last sale
Increased$22K (+6.5%)
Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.

Trulia Estimate

The of this home's value increased by +81% in the last 10 years
MonthEstimated value
2026
September 2026$362K
August 2026$359K
July 2026$352K
June 2026$358K
May 2026$355K
April 2026$349K
March 2026$350K
February 2026$342K
January 2026$346K
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
550 Madison Ln, Elgin, IL
0.08
Townhouse
$333,700
03/20/26
2
2.5
1,783
514 Madison Ln, Elgin, IL
0.00
Townhouse
$310,000
11/18/25
2
2.5
1,771
503 Shagbark Dr #503, Elgin, IL
0.47
Townhouse
$300,000
09/26/25
2
2.5
2,058
519 Shagbark Dr, Elgin, IL
0.49
Townhouse
$355,000
03/09/26
3
3.5
2,080
510 Shagbark Dr #510, Elgin, IL
0.53
Townhouse
$365,000
10/10/25
3
3
1,538
514 Shagbark Dr, Elgin, IL
0.54
Townhouse
$343,345
11/19/25
2
3.5
2,708
919 Millcreek Cir, Elgin, IL
0.85
Townhouse
$335,000
06/30/26
2
2
1,904
850 Millcreek Cir, Elgin, IL
0.79
Townhouse
$307,000
11/02/25
2
2
1,449
805 Millcreek Cir, Elgin, IL
0.80
Townhouse
$297,000
11/18/25
2
2
1,904

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
512 Madison Ln, Elgin, IL 60123
0.01
$329,500
2
2.5
-
Off Market
514 Madison Ln, Elgin, IL 60123
0.00
$325,900
2
2.5
1,771
Off Market
515 Madison Ln, Elgin, IL 60123
0.03
$420,000
3
2
2,083
Recently Sold
519 Madison Ln, Elgin, IL 60123
0.03
$431,400
3
2
2,092
Off Market
550 Madison Ln, Elgin, IL 60123
0.08
$333,700
2
2.5
1,783
Recently Sold
550 Madison Ln #550, Elgin, IL 60123
0.08
$382,300
2
2.5
2,000
Off Market
568 Madison Ln, Elgin, IL 60123
0.09
$455,900
3
3
1,600
Off Market
560 Madison Ln, Elgin, IL 60123
0.10
$460,400
3
3
1,600
Off Market
566 Madison Ln, Elgin, IL 60123
0.11
$452,500
3
3
1,600
Off Market
558 Madison Ln, Elgin, IL 60123
0.11
$416,000
3
3
1,600
Off Market
532 Shenandoah Trl, Elgin, IL 60123
0.09
-
3
2.5
1,764
Off Market

Local Information

  • Map ViewExplore the area around 516 Madison Ln.
  • Schools2 Preschool Schools1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Home Highlights

Townhouse
Built in 2005
1,783 sqft
$203/sqft
2 Car Garage
HOA $260/mo

About this House

Move right into this beautifully maintained and updated townhome featuring 2 bedrooms, 2.5 bathrooms, and a spacious loft that can easily be converted into a third bedroom. The soaring ceilings and open-concept layout create a bright and airy atmosphere, seamlessly connecting the living room with cozy fireplace, dining area, eat-in space, and kitchen-perfect for both entertaining and everyday living. You'll love the luxury vinyl flooring, updated bathrooms, and the primary suite complete with a walk-in closet and private ensuite bath. The full unfinished basement offers endless possibilities to add additional living space or create your dream rec room. Enjoy the convenience of a 2-car garage and a location that's equidistant to Route 20 and I-90 for easy commuting. Just minutes to all the shopping, dining, and amenities along Randall Road-this one truly has it all and won't last long!
516 Madison Ln, Elgin, IL 60123 is a 2 bedroom, 3 bathroom, 1,783 sqft townhouse in Valley Creek, built in 2005. It last sold for the $339,900 asking price on Aug 22, 2025. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $361,200, with a rent estimate of $2,505/month.
Last check for updates: about 5 hours ago
Listed by Christy Alwin, (224) 699-5002
Redfin Corporation
Bought with: Toni Favia, (630) 244-6455, TNT Realty, Inc.
Source: MRED as distributed by MLS GRID, MLS#12407605

Home Details for 516 Madison Ln

Active Status

MLS Status: Closed

Interior Features

Interior Details
Basement: Unfinished,FullNumber of Rooms: 7Types of Rooms: Master Bedroom, Bedroom 2, Bedroom 3, Bedroom 4, Breakfast Room, Dining Room, Family Room, Foyer, Kitchen, Laundry, Living Room, Loft, Walk In Closet
Beds & Baths
Number of Bedrooms: 2Number of Bathrooms: 3Number of Bathrooms (full): 2Number of Bathrooms (half): 1
Dimensions and Layout
Living Area: 1783 Square Feet
Appliances & Utilities
Appliances: Range, Microwave, Washer, Dryer, Stainless Steel Appliance(s)DryerLaundry: Main Level,Washer Hookup,In UnitMicrowaveWasher
Heating & Cooling
Heating: Natural Gas,Forced AirHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Natural Gas
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Gas Log, Living RoomHas a FireplaceNo Spa
Gas & Electric
Electric: Circuit Breakers
Windows, Doors, Floors & Walls
Flooring: Laminate
Levels, Entrance, & Accessibility
Number of Stories: 2Accessibility: No Disability AccessFloors: Laminate
View
No View

Exterior Features

Exterior Home Features
Roof: AsphaltPatio / Porch: DeckOther Structures: NoneFoundation: Concrete Perimeter
Parking & Garage
Number of Garage Spaces: 2Number of Covered Spaces: 2Has a GarageHas an Attached GarageHas Open ParkingParking Spaces: 2Parking: Asphalt,Garage Door Opener,On Site,Garage Owned,Attached,Garage
Frontage
Not on Waterfront
Water & Sewer
Sewer: Public Sewer

Property Information

Year Built
Year Built: 2005
Property Type / Style
Property Type: ResidentialProperty Subtype: Townhouse, Single Family Residence
Building
Construction Materials: Aluminum Siding, BrickNot a New ConstructionNo Additional Parcels
Property Information
Parcel Number: 0609376035Model Home Type: BIRCH

Price & Status

Price
List Price: $339,900
Status Change & Dates
Off Market Date: Fri Jul 25 2025Possession Timing: Close Of Escrow

Location

Direction & Address
City: ElginCommunity: Madison Homes
School Information
Elementary School: Creekside Elementary SchoolElementary School District: 46Jr High / Middle School: Kimball Middle SchoolJr High / Middle School District: 46High School: Larkin High SchoolHigh School District: 46

Building

Building Details
Builder Model: BIRCH

HOA

HOA Fee Includes: Insurance, Exterior Maintenance, Lawn Care, Snow RemovalHas an HOAHOA Fee: $260/Monthly

Lot Information

Lot Area: 2288 sqft

Listing Info

Special Conditions: None

Offer

Listing Terms: Conventional

Business

Business Information
Ownership: Fee Simple w/ HO Assn.

Miscellaneous

BasementMls Number: 12407605Activation Date: Thu Jul 03 2025

Additional Information

MRD SHARE WITH CLIENTS: YesSource Internet Entire Listing DisplaySource Internet Address DisplayMRD REMARKSINTERNET: Yes

Price and Tax history

DateEventPrice
Aug 22, 2025
Source: MRED as distributed by MLS GRID #12407605
Sold
$340,000
Aug 18, 2025
Source: MRED as distributed by MLS GRID #12407605
Pending
$339,900
Jul 15, 2025
Source: MRED as distributed by MLS GRID #12407605
PriceChange
$339,900
Price decreased by 3%
Jul 3, 2025
Source: MRED as distributed by MLS GRID #12407605
Listed For Sale
$349,900
Jun 22, 2017
Source: MRED as distributed by MLS GRID #09606201
Sold
$217,500

Market trends in Elgin

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$331K
$4.67KMoM
Sale-to-List Price
100.2%
Price per sq ft
$203
$4MoM
Available listings
264
13MoM

Around this home

Neighborhood Overview

Valley Creek
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Valley Creek

At least 27 Trulia users voted on each feature.

  • 94 % Say it's dog friendly

  • 90 % Say there are sidewalks

  • 89 % Say parking is easy

  • 83 % Say it's quiet

  • 83 % Say streets are well-lit

  • 82 % Say yards are well-kept

  • 79 % Say car is needed

  • 79 % Say kids play outside

  • 68 % Say people would walk alone at night

  • 67 % Say there's holiday spirit

  • 57 % Say neighbors are friendly

  • 51 % Say there's wildlife

  • 44 % Say they plan to stay for at least 5 years

  • 31 % Say there are community events

  • 29 % Say it's walkable to grocery stores

  • 21 % Say it's walkable to restaurants

Sourced by Trulia users. Learn more about our methodology.
  • Ma D.
    "Everything is peaceful. i like the commons, parks and activities. also you can go to the centre of Elgin and have fun or exercise!"
    2
    Flag

LGBTQ Local Legal Protections

Based on information submitted to the MLS GRID as of 2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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. Click here for more information

Frequently asked questions about 516 Madison Ln

  • What is 516 Madison Ln estimated to be worth?
    Trulia's estimated value for 516 Madison Ln in Elgin, IL is $361,200.
  • What is the price history for 516 Madison Ln?
    516 Madison Ln in Elgin, IL last sold for $340,000 in August 2025.
  • Is Elgin a buyer's or seller's market?
    Elgin is currently a seller's market, based on recent for-sale activity.
  • What's the median sale price in Elgin?
    The median sale price in Elgin is $331K. That is down $4.67K from the prior month.
  • Does 516 Madison Ln have air conditioning?
    Yes, 516 Madison Ln in Elgin, IL has air conditioning.
  • Does 516 Madison Ln have laundry facilities?
    Yes, 516 Madison Ln in Elgin, IL has in-unit laundry.

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