550 Madison Ln, Elgin, IL 60123 Property Records

Kane County property record for 550 Madison Ln, Elgin, IL 60123

Property Summary

Property Type	Single Family Home
Details	2 bd · 2.5 ba · 1,783 sqft · built 2007
Lot Size	0.5 acres (2,178 sqft)
Owner	2 Individual Names on File
Last Sale	$334,000 (Apr 2026)
Tax Bill	$7,259 (2025)
Deeds & Mortgages	Apr 2026 Sale & Mortgage Jul 2023 Sale & Mortgage + 2 more
Flood Zone	Zone X (minimal risk)
APN	`06-09-453-090`

Property Details

APN / Parcel Number

Primary APN	`06-09-453-090`

Interior

Bedrooms	2 Beds
Full Baths	2.5 Baths
Half Baths	1 Half Bath
Total Rooms	6 Rooms
Stories	2 Stories
Building Area	1,783 sqft Living Area
Gross Area	2,734 sqft
Basement Area	951 sqft
Fireplaces	1 Fireplace
Fireplace	Fireplace

Exterior

Year Built	Built 2007
Effective Year Built	Effective 2007
Construction Type	Frame
Lot Area	2,178 sqft (0.5 acres)
Garage Type	Attached
Parking Spaces	2 Parking Spaces

Utilities, Heating & Cooling

Cooling System	HVAC

Location & Zoning

Street Address	550 MADISON LN
City	ELGIN
State	IL
Zip	60123-2537
Property Category	Residential
Property Type	Residential > Single Family > Home
Legal Description	MADISON HOMES OF ELGIN SUB LOT 4 (EX AS DESC IN DOC 2008K021966 & 2008K059343 & 2008K067726 & 2008K073211)
Legal Subdivision	MADISON HOMES OF ELGIN SUB
Legal Block	3
Legal Lot Number	4
Jurisdiction	KANE IL
Township / Civil Division	ELGIN
Census Block Group	3
Census Block	3026
Census Tract	851909

Owner

550 Madison Ln is owned and occupied by two individuals who bought it in April 2026.

Source: Kane County records, as of July 23, 2026

Owner of Record	2 Individual Names on File
Mailing Address	550 MADISON LN, ELGIN, IL 60123-2537
Occupancy	Owner Occupied
Owner Type	Individual
Vesting	Joint Tenants

Owner names and exact recorded amounts are on file and can be viewed instantly on this page with a free 10-day trial.

Deeds, Mortgages & Sale History

Date	Document
Apr 14, 2026	Warranty Deed, Transfer · Conventional Mortgage GUARANTEED RATE
Jul 13, 2023	Warranty Deed, Transfer · FHA Mortgage GUARANTEED RATE INC
Sep 3, 2020	Warranty Deed, Transfer · Conventional Mortgage PNC BANK NA
Jun 6, 2018	Warranty Deed, Transfer · FHA Mortgage KEY MORTGAGE SERVICES INC

Assessor's Deed Record

Deed Names	2 Names on Deed
Last Sale	Apr 14, 2026 · Amount on File
Deed Sale	Apr 14, 2026 · Amount on File
Prior Sale	Jul 13, 2023 · Amount on File
Deed Document Number	202614971
Prior Transfer Date	Apr 25, 2012
Prior Transfer Doc	0000030837
Record Updated	Oct 29, 2026

April 2026: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	KANE IL
Recording Date	Apr 14, 2026
Property Address	550 MADISON LN, ELGIN, IL 60123-2537
Document Number	0000014971
Instrument Date	Mar 18, 2026
Instrument	202614971
Transaction Type	Transfer
Record Updated	Aug 24, 2026
Title Company	FIRST AMERICAN TITLE

Transaction

Amount	Amount on Record
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$50,601.00
Amount Accuracy	Full Amount Stated
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Joint Tenants
Address	550 MADISON LN, ELGIN, IL 60123-2537

Mortgage

Document Number	0000014972,
Date	Apr 14, 2026
Instrument	202614972

Lender

Name	GUARANTEED RATE

Agreement

Type	Conventional Mortgage
Amount	Amount on Record
Term	360 Months
Due	Apr 1, 2056

Interest

Rate Type	Fixed Rate
Rate	6.25%
Initial Type	Fixed Rate
Max Rate	-1%

July 2023: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	KANE IL
Recording Date	Jul 13, 2023
Property Address	550 MADISON LN, ELGIN, IL 60123-2537
Document Number	0000023477
Map Reference	DOC 2004K126735
Instrument Date	Jun 16, 2023
Instrument	2023K023477
Transaction Type	Transfer
Record Updated	Jul 25, 2023
Title Company	BAIRD AND WARNER TITLE SERVICES INC, BAIRD & WARNER TITLE

Transaction

Amount	Amount on Record
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$295.00
Amount Accuracy	Rounded by County
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	1033 PACIFIC AVE, HOFFMAN ESTATES, IL 60169-6224

Mortgage

Document Number	0000023478
Date	Jul 13, 2023
Instrument	2023K023478

Lender

Name	GUARANTEED RATE INC
Type	Mortgage Company

Agreement

Type	FHA Mortgage
Amount	Amount on Record
Term	360 Months
Due	Jul 1, 2053

Interest

Rate Type	Fixed Rate
Rate	6.75%

September 2020: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	KANE IL
Recording Date	Sep 3, 2020
Property Address	550 MADISON LN, ELGIN, IL 60123-2537
Document Number	0000050670
Map Reference	DOC 2004K126735
Instrument Date	Jul 31, 2020
Instrument	2020K050670
Transaction Type	Transfer
Record Updated	Jul 27, 2021
Title Company	STEWART TITLE

Transaction

Amount	Amount on Record
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$210.00
Amount Accuracy	Rounded by County
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name
Address	550 MADISON LN, 550, ELGIN, IL 60123-2537

Transferred To (Grantee/Buyer)

Name	Verified Name
Address	550 MADISON LN, ELGIN, IL 60123-2537

Mortgage

Document Number	0000050671
Date	Sep 3, 2020
Instrument	2020K050671

Lender

Name	PNC BANK NA
Type	Bank

Agreement

Type	Conventional Mortgage
Amount	Amount on Record
Term	360 Months
Due	Sep 1, 2050

Interest

Rate	2.37%

June 2018: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	KANE IL
Recording Date	Jun 6, 2018
Property Address	550 MADISON LN, ELGIN, IL 60123-2537
Document Number	0000026254
Map Reference	DOC2004K126735
Instrument Date	Apr 7, 2018
Instrument	2018K026254
Transaction Type	Transfer
Record Updated	Jul 27, 2021
Title Company	CHICAGO TITLE INSURANCE CO

Transaction

Amount	Amount on Record
Downpayment	Downpayment on Record
Loan-to-Value (LTV)	LTV on Record
Tax	$204.50
Amount Accuracy	Rounded by County
Additional	Arm's Length

Transferred From (Grantor/Seller)

Name	Verified Name
Address	33231 N 43RD ST, 33231, CAVE CREEK, AZ 85331-5030

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Tenants by the Entirety
Address	550 MADISON LN, ELGIN, IL 60123-2537

Mortgage

Document Number	0000026255
Date	Jun 6, 2018
Instrument	2018K026255

Lender

Name	KEY MORTGAGE SERVICES INC
Type	Non-Lending Institution

Agreement

Type	FHA Mortgage
Amount	Amount on Record
Term	359 Months
Due	May 1, 2048

Interest

Rate Type	Fixed Rate
Rate	4.75%

Tax Assessment & Valuation

The 2025 property tax bill for 550 Madison Ln was $7,259, up 4.3% from the year before.

Source: Kane County assessment roll, as of July 23, 2026

Property Jurisdictions

Type	Name
State	Illinois
County	Kane County
County Subdivision	Elgin Township
Municipality	Elgin City
Unified School District	School District U-46 (PK - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025	$7,259.00 (+4.25%)	$103,155 (+8.57%) Land $28,236 Building $74,919	$309,589 (+8.57%) Land $84,742 Building $224,847
2024	$6,963.00	$95,012 Land $26,007 Building $69,005	$285,150 Land $78,052 Building $207,098
2022	$6,266.00 (+4.56%) Homeowner's exemption	$78,267 (+6.96%) Land $21,423 Building $56,844	$234,801 (+6.96%) Land $64,269 Building $170,532
2021	$5,993.00 Homeowner's exemption	$73,174 Land $20,029 Building $53,145	$219,522 Land $60,087 Building $159,435

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

FEMA maps place 550 Madison Ln in Zone X, an area of minimal flood risk.

Source: FEMA National Flood Hazard Layer, effective October 8, 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
Nearby Flood Policies	3 in force

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

Wildfire risk around 550 Madison Ln is low, with less than a 0.01% annual chance of wildfire.

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

Wildfire Risk	Low lower than 99.1% of the US · lower than 94% of Illinois
Wildfire Likelihood	Under 0.01% annual chance
Exposure	None beyond 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	ELGIN serves 114,797 people · EPA ID IL0894380
Water Source	Surface water
Last State Inspection	Aug 2025
Lead	19 ppb (2026) action level 15 ppb

Violations Reported to EPA

Water Quality	None last 10 years
Treatment and Procedure	None last 10 years
Monitoring and Reporting	8 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.

Internet Providers

Source: FCC Broadband Data Collection, based on 543 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	300 / 20
AT&T DSL · Fiber in parts of the area	100 / 20

May also be available: Fox Valley Internet, T-Mobile.

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