501 W Memory Ln, Mount Prospect, IL 60056 Property Records

Cook County property record for 501 W Memory Ln, Mount Prospect, IL 60056

Property Summary

Property Type	Single Family Home
Details	3 bd · 1 ba · 992 sqft · built 1951
Lot Size	0.149 acres (6,502 sqft)
Owner	Individual Name on Record
Last Sale	$210,000 (Jul 2001)
Tax Bill	$6,404 (2023)
Deeds & Mortgages	Feb 2020 Line of Credit Feb 2019 Line of Credit + 1 more
Flood Zone	Zone X (minimal risk)
APN	`03-34-126-012`

Property Details

APN / Parcel Number

Primary APN	`03-34-126-012`
Alternative APN	`03-34-126-012-0000`

Interior

Bedrooms	3 Beds
Full Baths	1 Bath
Total Rooms	5 Rooms
Stories	1 Story
Building Area	992 sqft Living Area
1st Floor Area	992 sqft

Exterior

Year Built	Built 1951
Effective Year Built	Effective 1952
Exterior Material	Wood
Construction Type	Frame
Roof Material	Asphalt
Lot Area	6,502 sqft (0.149 acres)
Garage Type	Attached
Parking Spaces	1 Parking Space

Utilities, Heating & Cooling

Cooling System	Central
Heating System	HVAC

Location & Zoning

Street Address	501 W MEMORY LN
City	MOUNT PROSPECT
State	IL
Zip	60056-2021
Property Category	Residential
Property Type	Residential > Single Family > Home
Legal Range	11E
Legal Township	42N
Legal Section	34
Legal Subdivision	PROSPECT MANOR
Legal Block	7
Legal Lot Number	1
Jurisdiction	COOK IL
Township / Civil Division	WHEELING
Census Block Group	2
Census Block	2014
Census Tract	802802

Owner

Source: Cook County records, as of May 27, 2026

Owner names and exact recorded amounts shown locked on this page are available instantly with a free trial.

Owner of Record	Individual Name on Record
Mailing Address	501 W MEMORY LN, MOUNT PROSPECT, IL 60056-2021
Occupancy	Owner Occupied
Owner Type	Individual

Deeds, Mortgages & Sale History

Date	Document
Feb 21, 2020	Deed of Trust, Mortgage · Line of Credit BANK OF AMERICA
Feb 2, 2019	Deed of Trust, Mortgage · Line of Credit BANK OF AMERICA
May 27, 2017	Deed of Trust, Mortgage · Line of Credit BANK OF AMERICA

Assessor's Deed Record

Deed Names	Name on Deed
Last Sale	Jul 3, 2001 · Amount on Record
Deed Sale	Jul 3, 2001 · Amount on Record
Deed Document Number	200184021
Record Updated	Oct 29, 2026

February 2020: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	501 W MEMORY LN, MOUNT PROSPECT, IL 60056-2021
Document Number	2014803261
Instrument Date	Feb 21, 2020
Transaction Type	Mortgage
Record Updated	Jun 16, 2020
Title Company	WFG LENDER SERVICES, WFG LENDER SVCS

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	501 W MEMORY LN MOUNT PROSPECT IL 600562021, MOUNT PROSPECT, IL 60056-2021

Mortgage

Document Number	2014803261
Date	May 27, 2020
Instrument	14803261

Lender

Name	BANK OF AMERICA
Type	Bank
Address	CHARLOTTE, NC 28255

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	360 Months
Due	May 26, 2050

Interest

Rate Type	Adjustable Rate

February 2019: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	501 W MEMORY LN, MOUNT PROSPECT, IL 60056-2021
Document Number	1905917058
Instrument Date	Feb 2, 2019
Transaction Type	Mortgage
Record Updated	Mar 7, 2019
Title Company	WFG LENDER SERVICES, WFG LENDER SVCS

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	501 W MEMORY LN MOUNT PROSPECT IL 600562021, MOUNT PROSPECT, IL 60056-2021

Mortgage

Document Number	1905917058
Date	Feb 28, 2019
Instrument	5917058

Lender

Name	BANK OF AMERICA
Type	Bank
Address	CHARLOTTE, NC 28255

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	360 Months
Due	Feb 27, 2049

Interest

Rate Type	Adjustable Rate

May 2017: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	501 W MEMORY LN, MOUNT PROSPECT, IL 60056-2021
Document Number	1716047073
Instrument Date	May 27, 2017
Transaction Type	Mortgage
Record Updated	Aug 21, 2018
Title Company	AMERICAN TITLE COMPANY, AMERICAN TITLE INC

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	501 W MEMORY LN MOUNT PROSPECT IL 600562021, MOUNT PROSPECT, IL 60056-2021

Mortgage

Document Number	1716047073
Date	Jun 9, 2017
Instrument	16047073

Lender

Name	BANK OF AMERICA
Type	Bank
Address	CHARLOTTE, NC 28255

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	360 Months
Due	Jun 8, 2047

Interest

Rate Type	Adjustable Rate

Tax Assessment & Valuation

Source: Cook County assessment roll, as of May 27, 2026

Property Jurisdictions

Type	Name
State	Illinois
County	Cook County
County Subdivision	Wheeling Township
Municipality	Mount Prospect Village
Secondary School District	Township High School District 214 (09 - 12)
Elementary School District	Mount Prospect School District 57 (PK - 08)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025		$32,000 (+10.34%) Land $7,802 Building $24,198	$320,000 (+10.34%) Land $78,020 Building $241,980
2023	$6,404.00 (+4.86%)
2022	$6,107.00 Homeowner's exemption	$29,000 Land $6,502 Building $22,498	$290,000 Land $65,020 Building $224,980

Assessed value and assessed market value are set for property tax purposes, not market price estimates; both are a fraction of this property's market value.

Flood

Source: FEMA National Flood Hazard Layer, effective February 11, 2026 · OpenFEMA NFIP redacted claims and policies, as of September 2026

FEMA Flood Zone	Zone X minimal risk
Flood Insurance Requirement	Not required lenders may require it
Community Rating System	Class 6 (20% premium discount)
Nearby Flood Policies	1 in force
Nearby Flood Claims	3 (1987–2011)
Claims Outside the SFHA	3 of 3
Most Recent Claim	Jul 2011 · rainfall accumulation

Values are read at the parcel center point; flood claims are located to the census block group, not this parcel; lenders make the official flood determination.

Wildfire

Source: USDA Forest Service Wildfire Risk to Communities (2nd edition), as of 2024

Wildfire Risk	Not rated no burnable land within ember reach

Values cover an area roughly 900 ft across, not the parcel itself; insurers use their own ratings.

Drinking Water

Source: EPA Safe Drinking Water Information System, as of September 2026

Water System	MOUNT PROSPECT serves 41,000 people · EPA ID IL0311980
Water Source	Purchased surface water from NORTHWEST SUBURBAN MUNICIPAL JAWA
Last State Inspection	Aug 2025
Lead	2 ppb (2026–2028) action level 15 ppb

Violations Reported to EPA

Water Quality	None last 10 years
Treatment and Procedure	None last 10 years
Monitoring and Reporting	11 last 3 years

Results are for the whole water system, not water tested at this address; lead at the tap also depends on the building's own pipes. The service area is an EPA estimate; the actual supplier may differ.

Internet Providers

Source: FCC Broadband Data Collection, based on 624 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Xfinity Cable	2,000 / 250
Astound Broadband Cable	1,500 / 50
Verizon Fixed Wireless	1,000 / 75
AT&T DSL	100 / 20

May also be available: T-Mobile.

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