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

Cook County property record for 502 W Memory Ln, Mount Prospect, IL 60056

Property Summary

Property Type	Single Family Home
Details	3 bd · 1 ba · 1,412 sqft · built 1950
Lot Size	0.149 acres (6,497 sqft)
Owner	Individual Name on Record
Last Sale	$353,000 (Oct 2010)
Tax Bill	$6,860 (2023)
Deeds & Mortgages	Nov 2020 Mortgage Mar 2020 Mortgage + 1 more
Flood Zone	Zone X (minimal risk)
APN	`03-34-118-011`

Property Details

APN / Parcel Number

Primary APN	`03-34-118-011`
Alternative APN	`03-34-118-011-0000`

Interior

Bedrooms	3 Beds
Full Baths	1 Bath
Total Rooms	6 Rooms
Stories	1 Story
Building Area	1,412 sqft Living Area
Fireplaces	1 Fireplace
Fireplace	Fireplace

Exterior

Year Built	Built 1950
Effective Year Built	Effective 1950
Architectural Style	Bungalow
Exterior Material	Brick/Stone
Construction Type	Frame
Roof Material	Asphalt
Lot Area	6,497 sqft (0.149 acres)
Garage Type	Attached
Parking Spaces	2 Parking Spaces

Utilities, Heating & Cooling

Cooling System	HVAC
Heating System	HVAC
Sewer	Municipal
Water Source	Commercial

Location & Zoning

Street Address	502 W MEMORY LN
City	MOUNT PROSPECT
State	IL
Zip	60056-2044
Property Category	Residential
Property Type	Residential > Single Family > Home
Legal Description	PART S3/4W2W2 S34 T42N R11E 3P
Legal Range	11E
Legal Township	42N
Legal Section	34
Legal Subdivision	PROSPECT MANOR
Legal Block	2
Legal Lot Number	12
Jurisdiction	COOK IL
Township / Civil Division	WHEELING
Census Block Group	2
Census Block	2009
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	502 W MEMORY LN, MOUNT PROSPECT, IL 60056-2044
Occupancy	Owner Occupied
Owner Type	Individual

Deeds, Mortgages & Sale History

Date	Document
Nov 20, 2020	Deed of Trust, Mortgage · Conventional with PMI GUARANTEED RATE
Mar 10, 2020	Deed of Trust, Mortgage GUARANTEED RATE
Oct 24, 2017	Deed of Trust, Mortgage · Line of Credit JP MORGAN CHASE BK

Assessor's Deed Record

Deed Names	Name on Deed
Last Sale	Oct 28, 2010 · Amount on Record
Deed Sale	Oct 28, 2010 · Amount on Record
Deed Document Number	201012026
Record Updated	Sep 20, 2026

November 2020: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	502 W MEMORY LN, MOUNT PROSPECT, IL 60056-2044
Document Number	2100415313
Instrument Date	Nov 20, 2020
Transaction Type	Mortgage
Record Updated	Jan 15, 2021
Title Company	RAVENSWOOD TITLE

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Tenants by the Entirety
Address	502 W MEMORY LN MOUNT PROSPECT IL 600562044, MOUNT PROSPECT, IL 60056-2044

Mortgage

Document Number	2100415313
Date	Jan 4, 2021
Instrument	415313

Lender

Name	GUARANTEED RATE
Address	CHICAGO, IL 60613

Agreement

Type	Conventional with PMI
Amount	Amount Recorded
Term	360 Months
Due	Jan 3, 2051

Interest

Rate Type	Fixed Rate
Rate	2.99%

March 2020: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	502 W MEMORY LN, MOUNT PROSPECT, IL 60056-2044
Document Number	2007845021
Instrument Date	Mar 10, 2020
Transaction Type	Mortgage
Record Updated	Apr 6, 2020
Title Company	RAVENSWOOD TITLE

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Tenants by the Entirety
Address	502 W MEMORY LN MOUNT PROSPECT IL 600562044, MOUNT PROSPECT, IL 60056-2044

Mortgage

Document Number	2007845021
Date	Mar 18, 2020
Instrument	7845021

Lender

Name	GUARANTEED RATE
Address	CHICAGO, IL 60613

Agreement

Amount	Amount Recorded
Term	360 Months
Due	Mar 17, 2050

Interest

Rate Type	Fixed Rate
Rate	3.62%

October 2017: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	502 W MEMORY LN, MOUNT PROSPECT, IL 60056-2044
Document Number	1731057075
Instrument Date	Oct 24, 2017
Transaction Type	Mortgage
Record Updated	Nov 14, 2017

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Tenants by the Entirety
Address	502 W MEMORY LN MOUNT PROSPECT IL 600562044, MOUNT PROSPECT, IL 60056-2044

Mortgage

Document Number	1731057075
Date	Nov 6, 2017
Instrument	31057075

Lender

Name	JP MORGAN CHASE BK
Type	Bank
Address	COLUMBUS, OH 43240

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	360 Months
Due	Nov 5, 2047

Interest

Rate Type	Adjustable Rate
Rate	4.25%

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		$38,000 (+23.56%) Land $7,796 Building $30,204	$380,000 (+23.56%) Land $77,960 Building $302,040
2023	$6,860.00 (-6.12%)
2022	$7,307.00 Homeowner's exemption	$30,755 Land $6,497 Building $24,258	$307,550 Land $64,970 Building $242,580

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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