5540 Prospect Ln, Lerna, IL 62440 Property Records

Coles County property record for 5540 Prospect Ln, Lerna, IL 62440 · Last verified July 2026

Property Highlights

Property Type	Residential > Single Family > Home
Bedrooms	4 Beds
Bathrooms	2 Baths
Year Built	Built 1982
Square Footage	1,731 sqft Base Area
Lot Size	16,553 sqft (0.38 acres)
Occupancy	Owner Occupied
Last Sale	$180,000 (2023)
Tax Bill	$2,953.00 (2025)

Property Details

APN / Parcel Number

Primary APN	`06-0-01668-000`

Interior

Bedrooms	4 Beds
Full Baths	2 Baths
Building Area	1,731 sqft Base Area
1st Floor	1,731 sqft 1st Floor
Basement Area	1,131 sqft Basement
Unfinished Basement	1,131 sqft Unfinished
Stories	1 Stories

Exterior

Year Built	Built 1970
Effective Year Built	Effective 1982
Lot Area	16,553 sqft (0.38 acres)
Garage Type	Basement Garage
Garage Area	576 sqft Garage

Utilities and HVAC

Cooling System	Central Cooling

Location & Zoning

Street Address	5540 PROSPECT LN
City	LERNA
State	IL
Zip	62440-2223
Property Usage	Residential Property Usage
Type	Residential > Single Family > Home
Legal Description	HICKORY HILLS SUBDIVISION LOT 05
Legal Subdivision	HICKORY HILLS SUBDIVISION
Legal Lot Number	5
Jurisdiction	COLES IL
Minor Civil Division	LAFAYETTE
Census Blockgroup	5
Census Block	5026
Census Tract	200

Owner

Source: Coles County records · APN 06-0-01668-000

Assessment roll updated June 23, 2026 · Last verified July 2026

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

Owner of Record	2 Individual Names on File
Mailing Address	5540 PROSPECT LN, LERNA, IL 62440-2223
Occupancy	Owner Occupied
Owner Type	Owner is an Individual, Couple or Unincorporated Entity

Deeds, Mortgages & Sale History

Assessor's Deed Record

Deed Names	2 Verified Names on Deed
Last Sale	Jul 12, 2023 · Amount on Record
Deed Sale	Jul 12, 2023 · Amount on Record
Prior Sale	Sep 07, 2007 · Amount on Record
Deed Doc Number	2023807550
Record Refreshed	Sep 20, 2026

July 2023: Warranty Deed, Transfer

Document Type	Warranty Deed
Jurisdiction	COLES IL
Recording Date	Jul 12, 2023
Property Address	5540 PROSPECT LN, LERNA, IL 62440-2223
Document Number	202300807550
Instrument Date	Jul 12, 2023
Instrument	202300807550
Transaction Type	Transfer
Record Updated	Aug 01, 2023
Title Company	ATTORNEY ONLY, ATTORNEY

Transaction

Amount	Amount Recorded
Downpayment	Downpayment on File
Loan-to-Value (LTV)	LTV on Record
Tax	$180.00
Amount Accuracy	Rounded Values by County
Additional	Arms Length Transaction

Transferred From (Grantor/Seller)

Name	Verified Name

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Tenant By Entirety
Address	5540 PROSPECT LN, LERNA, IL 62440-2223

Mortgage

Document Number	202300807551
Date	Jul 12, 2023
Instrument	202300807551

Lender

Name	FLAT BRANCH HOME LOANS INC
Type	Mortgage Company

Agreement

Type	Federal Housing Administration (FHA) Mortgage
Amount	Amount Recorded
Term	361 Months
Due	Aug 01, 2053

Interest

Rate Type	Fixed Rate
Rate	6.75%

Tax Assessment & Valuation

Source: Coles County records · Assessment roll updated June 23, 2026 · Last verified July 2026

Property Jurisdictions

Type	Name
State	Illinois
County	Coles County
County Subdivision	Lafayette Township
Unified School District	Mattoon Community Unit School District 2 (PK - 12)

Tax Bill & Assessment History

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.

Year	Tax Bill	Assessed Value	Assessed Market Value
2025	$2,953.00 (+38.25%)	$47,529 (+22.32%) Land $8,611 Building $38,918	$142,587 (+22.32%) Land $25,833 Building $116,754
2023		$38,856 (+1.68%) Land $7,040 Building $31,816	$116,568 (+1.68%) Land $21,120 Building $95,448
2022		$38,214 Land $6,924 Building $31,290	$114,642 Land $20,772 Building $93,870
2020	$2,136.00

Flood & Wildfire

Source: FEMA National Flood Hazard Layer, Coles County (17029C), updated July 18, 2011 · USDA Forest Service Wildfire Risk to Communities, 2nd edition (2024), fuels as of 2020 · Last verified October 2026

Flood

FEMA Flood Zone	Zone X
Flood Hazard	Minimal
500-Year Floodplain	No
Special Flood Hazard Area	No

Wildfire

Wildfire Risk	Low above 6% of the US · above 38% of Illinois
Wildfire Likelihood	Less than 1 in 10,000 per year
Exposure	Direct burnable vegetation at the parcel

Values are read at the parcel center point; lenders make the official flood determination.