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Sheldon Barnes is a Carmel realtor and licensed real estate agent serving Indianapolis, Indiana and the rest of Hamilton County. Book a private tour of 5506 N Illinois Street in North Butler Terrace, ask any question about this home, or talk through what you should know about buying in Indianapolis.

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ABOUT THIS HOME

Beautifully updated Cape Cod in the heart of Butler-Tarkington, just steps from the charm of 56th & Illinois. Meticulously maintained and extensively improved to blend historic character with modern upgrades, including a full kitchen renovation in 2024 featuring custom white oak cabinetry, quartz counters, and stainless appliances. Original leaded-glass windows, a restored fireplace, arches, and timeless hardwood floors reflect the home's classic charm. Benefit from structural and mechanical updates which provide peace of mind such as newer roof, decking, and gutters in 2023. The exterior was painted in 2024 and features Hardie Plank siding. The brick facade has undergone tuckpointing to restore the appearance and stability of the brickwork. The chimney was rebuilt in 2020, and marble tile was added to the hearth in 2023 and combined with the gas logs, creates the perfect focal point for the living room. Updated light fixtures, built-in bookshelves, and window seats add to the charm and livability. The finished basement offers flexible living space, a laundry room with a sink and a laundry chute, plus a large room for extra storage and multiple closets. Upstairs, the windows have been rebuilt to match the original aesthetic. The powder room on the main level was fully updated in 2024 and the sinks and upstairs tub were reglazed in 2025. Outdoor living shines with a stamped concrete patio, beautiful landscaping, and a deck with a pergola overlooking the serene and fully fenced backyard. French doors from the living room to the deck add to the ease of entertaining. The solid two-car garage includes new openers and the driveway has been replaced. Located near Butler University, neighborhood cafes, and tree-lined streets full of character, this home is truly move-in ready for you to benefit from all of the thoughtful improvements.

Listed by Roger Lundy· Keller Williams Indpls Metro N· MLS# 22074792
Recently SoldSold in 13 days

$525,000

3Beds
2.1Baths
2,316Sq Ft

Beautifully updated Cape Cod in the heart of Butler-Tarkington, just steps from the charm of 56th & Illinois. Meticulously maintained and extensively improved to blend historic character with modern upgrades, including a full kitchen renovation in 2024 featuring custom white oak cabinetry, quartz co...

Listed by Roger Lundy· Keller Williams Indpls Metro N· MLS# MBR22074792

2,316

Sq Ft

1938

Year Built

3

Bedrooms

2.1

Bathrooms

Key things to know

  • Sold 14% over list in 13 days
  • Fireplace
  • Finished basement (534 sqft)
  • North Butler Terrace subdivision

Sold

$600,000

+$75,000 over list (14.3%)

Closed
Apr 24, 2026
Listed at
$525,000
Sold
2 weeks ago
Sold in
13 days

Price history

  1. Sold$600,000

    Apr 24, 2026

  2. Listedat $525,000

    Dec 2, 2025

Sold
11
Median price
$475,000
Median DOM
6 days

Comparative value

5 comps in this range

This home is 88% above median for similar nearby sales.

$75K$538KMedian $320K
$600K

FEATURES & AMENITIES

Interior

Breakfast BarBuilt-in FeaturesEntrance FoyerHardwood FloorsSmart ThermostatWood Work Painted

Climate

Heat: Forced AirHeat: Natural GasCool: Central Air

THE FACTS

Pricing trajectory, room-by-room layout, schools, and what's nearby.

Price history

  • $525,000Listed· Dec 2, 2025

13 days on market

Layout

Main
3 rooms891 sq ft
Upper
313 rooms891 sq ft
Basement
13 rooms534 sq ft finished

Schools

Indianapolis Public Schools

    Neighborhood

    • Downtown Indianapolis5.8 mi
    • Monon Trail (Carmel)7.6 mi
    • Carmel Central Park7.8 mi
    • Carmel High School8.3 mi
    • IU Health North Hospital8.9 mi
    • Carmel Arts & Design District8.9 mi

    PROPERTY DETAILS

    Living Area

    2,316 sq ft

    Year Built

    1938

    Stories

    Two

    Subdivision

    North Butler Terrace

    Bedrooms

    3

    Bathrooms

    2 full, 1 half

    Garage

    2 spaces

    School District

    Indianapolis Public Schools

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