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  3. Mount Prospect, IL
  4. /
  5. 501 E Prospect Ave
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501 E Prospect Ave

501 Prospect Ave, Mount Prospect, IL, 60056

YEAR BUILT

1963

# STORIES

3

# TOTAL UNITS

23

UNIT SIZE RANGE

680-900 sqft

Description

The building at 501 E Prospect Ave sits in downtown Mount Prospect and has a low-rise design with 3 stories. It contains 23 units that provide a cozy community feel. Built in 1963, this property has a classic vibe while offering modern-day comforts. Units in the building range from 680 to 900 square feet and include options for 1 and 2 bedrooms. Prices for the units are between $137,000 and $155,000. The average price per square foot in the past year was about $194. The building has sold around this average price recently. Living here comes with benefits such as assigned parking and assigned storage spaces. Coin laundry is available in the building, making daily chores simple. The low monthly assessments help keep costs manageable. This building is also pet-friendly, which is a plus for animal lovers. The neighborhood includes many shops and restaurants, making it easy to find what you need. Nearby businesses include Chicago Classic Coach LLC and Creative Training. The area also features parks and pools, providing outdoor options for relaxation and play. Traveling is straightforward with the Metra station nearby. There’s also quick access to Arlington Heights and a short ride to downtown Chicago. This keeps commuting simple for those who work in the city. The building offers tall windows and generous storage spaces, such as walk-in closets. Residents can enjoy a friendly atmosphere while being close to the activities of downtown. It is just a short drive from local parks and a quick trip to enjoy the nearby water.

Building ImageMLS ID #12366402
Building ImageMLS ID #12377676
Building ImageView Listing

501 E Prospect Ave

501 Prospect Ave, Mount Prospect, IL, 60056

YEAR BUILT

1963

# STORIES

3

# TOTAL UNITS

23

UNIT SIZE RANGE

680-900 sqft

Description

The building at 501 E Prospect Ave sits in downtown Mount Prospect and has a low-rise design with 3 stories. It contains 23 units that provide a cozy community feel. Built in 1963, this property has a classic vibe while offering modern-day comforts. Units in the building range from 680 to 900 square feet and include options for 1 and 2 bedrooms. Prices for the units are between $137,000 and $155,000. The average price per square foot in the past year was about $194. The building has sold around this average price recently. Living here comes with benefits such as assigned parking and assigned storage spaces. Coin laundry is available in the building, making daily chores simple. The low monthly assessments help keep costs manageable. This building is also pet-friendly, which is a plus for animal lovers. The neighborhood includes many shops and restaurants, making it easy to find what you need. Nearby businesses include Chicago Classic Coach LLC and Creative Training. The area also features parks and pools, providing outdoor options for relaxation and play. Traveling is straightforward with the Metra station nearby. There’s also quick access to Arlington Heights and a short ride to downtown Chicago. This keeps commuting simple for those who work in the city. The building offers tall windows and generous storage spaces, such as walk-in closets. Residents can enjoy a friendly atmosphere while being close to the activities of downtown. It is just a short drive from local parks and a quick trip to enjoy the nearby water.

Next

Description

The building at 501 E Prospect Ave sits in downtown Mount Prospect and has a low-rise design with 3 stories. It contains 23 units that provide a cozy community feel. Built in 1963, this property has a classic vibe while offering modern-day comforts. Units in the building range from 680 to 900 square feet and include options for 1 and 2 bedrooms. Prices for the units are between $137,000 and $155,000. The average price per square foot in the past year was about $194. The building has sold around this average price recently. Living here comes with benefits such as assigned parking and assigned storage spaces. Coin laundry is available in the building, making daily chores simple. The low monthly assessments help keep costs manageable. This building is also pet-friendly, which is a plus for animal lovers. The neighborhood includes many shops and restaurants, making it easy to find what you need. Nearby businesses include Chicago Classic Coach LLC and Creative Training. The area also features parks and pools, providing outdoor options for relaxation and play. Traveling is straightforward with the Metra station nearby. There’s also quick access to Arlington Heights and a short ride to downtown Chicago. This keeps commuting simple for those who work in the city. The building offers tall windows and generous storage spaces, such as walk-in closets. Residents can enjoy a friendly atmosphere while being close to the activities of downtown. It is just a short drive from local parks and a quick trip to enjoy the nearby water.

501 E Prospect Ave Market Stats Last 12 months

Avg. Listed Price$160,000($200/Sqft.)
Avg. Sale Price$155,000($194/Sqft.)
Year over year list priceUp Arrow23.17%
Year over year sale priceUp Arrow 13.14%
Total Listings1 Listed
Total sold1 Sold
Average Days on Market34 days
Average HOA fees per sqft$5 /monthly
Next

Market Stats

Year over year list priceUp Arrow23.17%
Year over year sale priceUp Arrow13.14%
Total Listings1 Listed
Total sold1 Sold
Average Days on Market34 days
Average HOA fees per sqft$5 /monthly

Glen Gardens Estate Availability & Demand

Unit Availability

Low
High availability buildings list units frequently.

Unit Availability helps to understand how often units in a particular building are listed for sale as compared with the neighborhood average. Units are rarely listed in buildings with low availability.

Unit Demand

Low
Units in high-demand buildings sell quicker.

Unit Demand is a measure of quickly units in a particular building sell as compared with other buildings in the neighborhood. Units in high-demand buildings sell more quickly.

For Sale 0 For Sale

501 E Prospect Ave Inventory & Sale History

UnitSize (sqft)BedsBathsDays On MarketDateStatusPrice
Unit 3F3F80011342025-07-11
MLS#: 12366402 		Closed$155,000
Unit 1B1B71411412024-11-06
MLS#: 12169122 		Closed$137,000
Unit 2I2I68011702023-02-23
MLS#: 11688455 		Closed$117,500
Unit 1B
1B

1 Beds

1 Baths

714 sqft

DateStatusPrice
2024-11-06Closed$137,000
MLS#: 12169122
Days On Market41
Unit 2I
2I

1 Beds

1 Baths

680 sqft

DateStatusPrice
2023-02-23Closed$117,500
MLS#: 11688455
Days On Market70
Unit 3F
3F

1 Beds

1 Baths

800 sqft

DateStatusPrice
2025-07-11Closed$155,000
MLS#: 12366402
Days On Market34
View Complete Unit Listing HistorySource By: MRED

Amenities

One feature that truly enhances the lifestyle at 501 E Prospect Ave is the bike room and trails nearby. Imagine cycling through charming neighborhoods or enjoying leisurely rides along scenic paths. If you’re an outdoor enthusiast, the bike amenities will fit seamlessly into your everyday life, providing both exercise and a fun way to explore the area. Whether you want to venture alone or ride with friends, it’s just one of the many perks of living here.

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Amenities Description

One feature that truly enhances the lifestyle at 501 E Prospect Ave is the bike room and trails nearby. Imagine cycling through charming neighborhoods or enjoying leisurely rides along scenic paths. If you’re an outdoor enthusiast, the bike amenities will fit seamlessly into your everyday life, providing both exercise and a fun way to explore the area. Whether you want to venture alone or ride with friends, it’s just one of the many perks of living here.

Parking
Parking
Locker
Locker
Concierge
Concierge
Elevator(s)
Elevator(s)
Central AC
Central AC
Pool
Pool
Fitness Center
Fitness Center
-
Visitors Parking
Visitors Parking
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Amenities

Coin Laundry

Coin Laundry

Bike Room/Bike Trails

Bike Room/Bike Trails

Storage

Storage

Balcony

Balcony

Policies

Pet lovers, rejoice! The building welcomes both cats and dogs, making it a great choice if you have furry friends you want to bring along. A pet-friendly home can create a warm and engaging environment, especially for those seeking companionship. With policies that accommodate your pets, it’s easy to envision a delightful life here with your four-legged family members.

Next

Amenities Description

Pet lovers, rejoice! The building welcomes both cats and dogs, making it a great choice if you have furry friends you want to bring along. A pet-friendly home can create a warm and engaging environment, especially for those seeking companionship. With policies that accommodate your pets, it’s easy to envision a delightful life here with your four-legged family members.

Pet Allowed
Pet Allowed
BBQ Permitted
BBQ Permitted
Sublet Allowed
Sublet Allowed
Short-term Rental Allowed
Short-term Rental Allowed

Compare with Buildings in the Neighbourhood (Last 12 Months)

Compare building's average price/sq. ft. and HOA fees/sq. ft. to buildings nearby

Building NameAvg price per square footAVG HOA FEE per square foot (Monthly)
501 E Prospect Ave$194/sqft.$5 /sqft.
Prospect Gardens Condominiums$192/sqft.$4 /sqft.
40 E Northwest Hwy$281/sqft.$3 /sqft.
Village Centre$281/sqft.$3 /sqft.
100 S Emerson St$309/sqft.$2 /sqft.
The Emerson$309/sqft.$2 /sqft.

Nearby Schools

501 E Prospect Ave is located near 21+ schools throughout Mount Prospect. Schools within a 2-mile radius provide dependable access for families. Convenient proximity supports smoother daily routines. This location enhances residential comfort.

Lions Park Elementary School

B
Public|Grades 2–5
300 E Council Trl|0.25 miles away

St Paul Lutheran School

--
Private|Grades PK–8
18 S School St|0.4 miles away

St Raymond School

--
Private|Grades PK–8
300 S Elmhurst Ave|0.62 miles away

Lincoln Middle School

B-
Public|Grades 6–8
700 W Lincoln St|0.92 miles away

Brentwood Elementary School

B
Public|Grades KG–5
260 Dulles Rd|0.98 miles away

Chippewa Middle School

B-
Public|Grades 6–8
123 N 8th Ave|1.17 miles away
Next

Schools

arrow rightWhat to know about schoolsarrow right
Next

Description

501 E Prospect Ave is located near 21+ schools throughout Mount Prospect. Schools within a 2-mile radius provide dependable access for families. Convenient proximity supports smoother daily routines. This location enhances residential comfort.

Lions Park Elementary School

B
Public|Grades 2–5
300 E Council Trl|Less than 1 Mile Away

St Paul Lutheran School

--
Private|Grades PK–8
18 S School St|Less than 1 Mile Away

St Raymond School

--
Private|Grades PK–8
300 S Elmhurst Ave|Less than 1 Mile Away

Lincoln Middle School

B-
Public|Grades 6–8
700 W Lincoln St|Less than 1 Mile Away

Brentwood Elementary School

B
Public|Grades KG–5
260 Dulles Rd|Less than 1 Mile Away

Chippewa Middle School

B-
Public|Grades 6–8
123 N 8th Ave|1.17 Miles Away

Fairview Elementary School

B
Public|Grades 2–5
300 N Fairview Ave|1.24 Miles Away

Bright Horizons

--
Private|Grades PK–TKG
1020 S Hunt Club D...|1.24 Miles Away

Cumberland Elementary School

B+
Public|Grades KG–5
700 E Golf Rd|1.26 Miles Away

Terrace School-D/Hh Early Childhood Program

--
Public|Grades –
735 S Westgate Rd,...|1.54 Miles Away

Terrace Elementary School

B+
Public|Grades KG–5
735 S Westgate Rd|1.54 Miles Away

Westbrook Early Learning Center

--
Public|Grades PK–1
103 S Busse Rd|1.54 Miles Away

Prospect High School

A
Public|Grades 9–12
801 W Kensington R...|1.64 Miles Away

Robert Frost Elementary School

C
Public|Grades KG–5
1308 S Cypress Dr|1.72 Miles Away

Maryville Jen School

--
Private|Grades 9–12
1150 N River Rd|1.73 Miles Away

Timber Ridge School

--
Public|Grades –
201 S Evanston Ave|1.81 Miles Away

Euclid Elementary School

B
Public|Grades PK–5
711 E Euclid Ave|1.92 Miles Away

Forest View Elementary School

A-
Public|Grades KG–5
1901 W Estates Dr|1.95 Miles Away

River Trails Middle School

B-
Public|Grades 6–8
1000 N Wolf Rd|1.96 Miles Away

The Early Learning Center

--
Public|Grades PK–PK
1900 W Lonnquist B...|1.96 Miles Away

Joseph Academy

--
Private|Grades 8–12
1101 Gregory St|1.97 Miles Away

Transit

Set in , 501 E Prospect Ave provides residents with convenient access to public transit across Mount Prospect. Multiple Bus, Rail are available within 2 miles, offering seamless daily travel options. Efficient transit connections support work, education, and lifestyle needs. This transit-rich area contributes to a balanced and connected living experience.

506 Thacker St

1.77 miles away|34 min walk

515 Thacker St

1.76 miles away|34 min walk

900 Northwest Hwy

1.62 miles away|31 min walk

Broadway St & Northwest Hwy

1.18 miles away|23 min walk

Business Center Dr & Bishop Ct

1.57 miles away|31 min walk

Business Center Dr & Feehanville Dr

1.28 miles away|25 min walk
Next

Transit

arrow rightWhat to know about transitarrow right
Next

Description

Set in , 501 E Prospect Ave provides residents with convenient access to public transit across Mount Prospect. Multiple Bus, Rail are available within 2 miles, offering seamless daily travel options. Efficient transit connections support work, education, and lifestyle needs. This transit-rich area contributes to a balanced and connected living experience.

506 Thacker St

1.77 miles away|34 min walk

515 Thacker St

1.76 miles away|34 min walk

900 Northwest Hwy

1.62 miles away|31 min walk

Broadway St & Northwest Hwy

1.18 miles away|23 min walk

Business Center Dr & Bishop Ct

1.57 miles away|31 min walk

Business Center Dr & Feehanville Dr

1.28 miles away|25 min walk

Business Center Dr & Feehanville Dr (E)

1.47 miles away|29 min walk

Business Center Dr & Feehanville Dr (W)

1.25 miles away|24 min walk

Business Center Dr & Rand Rd

0.96 miles away|19 min walk

Business Center Dr & Slawin Ct

1.39 miles away|27 min walk

Business Center Dr & Wheeling Rd

1.17 miles away|23 min walk

Cumberland

1.02 miles away|20 min walk

Cumberland Metra (484 Northwest Hwy)

1.03 miles away|20 min walk

Cumberland Metra (485 Northwest Hwy)

1.02 miles away|20 min walk

Dempster St & Ida Ct (E)

1.75 miles away|34 min walk

Elmhurst/Euclid

1.94 miles away|38 min walk

Elmhurst/Kensington

1.49 miles away|29 min walk

Elmhurst/Rand

1.56 miles away|30 min walk

Elmhurst/Randhurst Mall

1.68 miles away|33 min walk

Feehanville Dr & Business Center Dr

1.48 miles away|29 min walk

Golf/Eighth

1.14 miles away|22 min walk

Golf/Fifth

1.31 miles away|26 min walk

Golf/Fourth

1.36 miles away|27 min walk

Golf/Pace Sign/1250 Bldg.

1.91 miles away|37 min walk

Golf/Rand

1.64 miles away|32 min walk

Golf Rd & Busse Rd

1.81 miles away|35 min walk

Golf Rd & Busse Rd (@ 1731 Golf Rd)

1.83 miles away|36 min walk

Golf Rd & Country Ln

0.9 miles away|18 min walk

Golf Rd & Elmhurst Rd

1.04 miles away|20 min walk

Golf Rd & Elm St

0.83 miles away|16 min walk

Golf Rd & Golfview Pl/Wilkins Dr

0.83 miles away|16 min walk

Golf Rd & Hunt Club Dr/Wa Pella Dr

1.17 miles away|23 min walk

Golf Rd & Lancaster St

1.4 miles away|27 min walk

Golf Rd & Louis St

0.82 miles away|16 min walk

Golf Rd & Marshall Dr/School St

0.83 miles away|16 min walk

Golf Rd & Mt Prospect Rd

0.85 miles away|17 min walk

Golf Rd & Na Wa Ta Ave

1.26 miles away|25 min walk

Golf Rd & Oakwood Dr

1.9 miles away|37 min walk

Golf Rd & Robert Dr

1.58 miles away|31 min walk

Golf Rd & School St/Marshall Dr

0.81 miles away|16 min walk

Golf Rd & Wa Pella Ave/Hunt Club Dr

1.15 miles away|23 min walk

Golf Rd & Warrington Rd

1.01 miles away|20 min walk

Golf Rd & Wilkins Dr/Golfview Pl

0.84 miles away|17 min walk

Golf/Second

1.46 miles away|28 min walk

Golf/Seventh

1.19 miles away|23 min walk

Golf/Sixth

1.24 miles away|24 min walk

Golf/Third

1.41 miles away|28 min walk

Linneman Rd & Dempster St

1.95 miles away|38 min walk

Main/Busse

0.49 miles away|10 min walk

Main/Central

0.58 miles away|12 min walk

The Neighbourhood: 501 E Prospect Ave

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501 E Prospect Ave Demographics

Age Demographics

0–14 Years

19.85%

15–29 Years

13.76%

30–44 Years

20.27%

45–59 Years

20.93%

60+ Years

25.19%

Commute

9.8%

Transit

0.85%

Walk

74.1%

Drive

0.39%

Bike

Housing Ownership

85.87%

Owner Occupied

14.13%

Rental Units

Household Types

Single Family
36.25%
Multi Family
9.54%
Single Person
22.48%
Multi Person
77.52%

Average Income

Household:$11,269,127.08 /yr

Individual:$5,030,954.59 /yr

Education

Bachelors Degree35.66%
High School College15.86%
Diploma7.3%
Post Graduate20.58%
Others20.6%
Next

Education

Diploma7.3%
Post Graduate20.58%
Others20.6%
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  1. Home
  2. /Mount Prospect, IL
  3. /
    501 E Prospect Ave
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601016012060124
6012960179601856041160428604456046760476605046054160548605866061060621606436067460701
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