143 N Butrick St · Waukegan, IL 60085

$330,000

3 bd · 2.5 ba · 1,536 sqft · SingleFamily public records · 10 Days on market

Built 1930 4,791 sqft lot Est $233k · 41% over

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +5.8/30.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• Schools +0.8/10.0
• DSCR +0.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity or owner-occupant duplex in Waukegan! This well-maintained 2-unit property features two spacious units, each offering 2 bedrooms and 1 full bathroom. The first-floor unit has been recently updated with new flooring, fresh paint, an updated kitchen, and a renovated bathroom, providing a modern and attractive living space. Investors will appreciate the strong rental income, with the first-floor unit generating $1,450/month and the second-floor unit generating $1,175/month. Tenants pay their own gas and electric, helping keep operating expenses low. Major improvements have already been completed, including updated plumbing, electrical systems, and a newly redon

Key facts

• Renovated bathroom
• Updated kitchen
• Updated plumbing

Tags

• OWNER OCCUPANT DUPLEX
• WELL MAINTAINED PROPERTY
• RECENTLY UPDATED FLOORING
• UPDATED KITCHEN
• RENOVATED BATHROOM
• UPDATED PLUMBING

Property features AI

Finance

• Other: Parcel number 08204050030000
• Financial info: Special service area: No; Property contains 2 units; Unit 1 rent $1,450; tenant pays electric and gas; security deposit $1,450; lease through Feb 1, 2028; Unit 2 rent $1,175; tenant pays electric and gas; security deposit $1,175; month-to-month lease

Exterior

• Parking: Detached garage (owned) — 1 garage space, 1 total parking space
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building; Fee simple ownership; Rehab planned/completed in 2026; Built approximately 91–100 years ago; Faces unspecified
• Construction: Vinyl siding; Asphalt roof; Built before 1978
• Exterior features: School bus service and commuter bus/train nearby; Lot dimensions approximately 46 x 175; Lot less than 0.25 acre

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 4 bedrooms (possible 4)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 10 rooms total; Unfinished partial basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-656 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (35.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (37.0% below list).
• Recommended offer: $208k (37.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#216 in IL, #4,074 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D, amenities D-.
• Waukegan CUSD 60 (suburban): math 7% / reading 10% proficiency, ranked #587 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hyde Park Elem School (math 8% / reading 2%, grade F, #1,741 of 2,056 statewide, top 93%, 285 students, 0% FRL); Miguel Juarez Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 672 students, 0% FRL); Waukegan High School (math 5% / reading 6%, grade F, #609 of 693 statewide, top 88%, 4,355 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.2%/yr); 91 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 37% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $135k; list at $330k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $208,003 (37.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.63% ✗
• Cap rate: 3.91%
• Cash-on-cash: -8.52%
• DSCR: 0.62
• GRM: 13.2

CMA / ARV

• ARV (on-the-fly): $233,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1504 W Monroe St	0.13mi	3/1.5	1,605 (+4%)	9mo	$234,000	$146	75
1527 Brookside Ave	0.23mi	3/1.0	1,602 (+4%)	5mo	$176,000	$110	72
23 N Jackson St	0.21mi	3/3.0	1,392 (-9%)	6mo	$260,000	$187	67
1124 Jackson Ct	0.25mi	2/1.0 (-1)	1,410 (-8%)	1mo	$197,000	$140	63
802 Pine St	0.64mi	4/2.0 (+1)	1,536 (0%)	8mo	$215,000	$140	57
711 Franklin St	0.59mi	3/2.0	1,474 (-4%)	9mo	$216,500	$147	56
201 S Park Ave	0.61mi	3/2.0	1,380 (-10%)	1mo	$200,000	$145	52
452 North Ave	0.68mi	3/1.5	1,608 (+5%)	7mo	$318,000	$198	51
519 N Ash St	0.64mi	4/2.0 (+1)	1,446 (-6%)	3mo	$237,000	$164	50
446 S Jackson St	0.69mi	3/2.0	1,401 (-9%)	2mo	$274,900	$196	50
616 4th St	0.74mi	4/2.0 (+1)	1,630 (+6%)	8mo	$298,000	$183	42
427 Tiffany Dr	0.70mi	4/1.5 (+1)	1,330 (-13%)	5mo	$202,324	$152	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -31.1%
• Equity multiple: -0.02×
• Total profit: $-94,691
• Equity at exit: $49,204

10-year hold

• IRR: -32.9%
• Equity multiple: -0.45×
• Total profit: $-133,983
• Equity at exit: $28,532

Cash invested: $92,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60085

• Rents YoY: 3.2%
• Active inventory: 91
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$431 /mo · $5,171/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-656

Break-even live

Break-even rent $2,910

Max offer price $214,164

Occupancy floor —

Sensitivity live

Price	-10% $-469	-5% $-562	+0% $-656	+5% $-749	+10% $-843
Rent	-10% $-820	-5% $-738	+0% $-656	+5% $-574	+10% $-491
Rate	-1.0pp $-490	-0.5pp $-572	base $-656	+0.5pp $-741	+1.0pp $-828

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Edwards St Unit 2 Waukegan, IL	3.0	1.0	1200	$1,600	$1.33	14d	1	0.61mi
731 N Linden Ave Unit 731-W1E Waukegan, IL	3.0	1.0	1156	$2,000	$1.73	45d	1	0.65mi
741 Walnut St Waukegan, IL	3.0	1.0	1150	$1,700	$1.48	45d	1	0.69mi
636 N Berwick Blvd Waukegan, IL	3.0	1.0	1350	$2,200	$1.63	45d	1	0.79mi
2421 Washington St Unit 2E Waukegan, IL	3.0	2.0	1100	$1,650	$1.50	0d	1	0.81mi
25 Keller Ave Unit N Waukegan, IL	2.0	1.0	1500	$2,000	$1.33	45d	1	0.86mi
10 N Sheridan Rd Waukegan, IL	1.0–2.0	1.0	817	$1,900	$2.33	0d	5	0.93mi
2635 W Cornelia Ave Unit 2635-D Waukegan, IL	2.0	1.0	1300	$1,350	$1.04	45d	1	1.00mi
1026 Muirfield Ave Waukegan, IL	3.0	1.5	1222	$2,121	$1.74	9d	1	1.06mi
514 Douglas Ave Unit 520 Waukegan, IL	3.0	1.5	1300	$1,850	$1.42	20d	1	1.16mi
1217 Hickory St Waukegan, IL	4.0	2.0	1635	$2,286	$1.40	9d	1	1.19mi
1405 North Ave Waukegan, IL	1.0–2.0	1.0–1.5	950	$1,550	$1.63	4d	6	1.37mi
708 Keller Ave Waukegan, IL	4.0	2.0	1800	$4,500	$2.50	0d	1	1.40mi
2404 Pearsall Pkwy Waukegan, IL	4.0	2.0	2000	$4,300	$2.15	0d	1	1.47mi

Listing history 7 events

1. 2026-06-21
   days on market $330,000 Active 10 DOM
2. 2026-06-18
   days on market $330,000 Active 7 DOM
3. 2026-06-17
   days on market $330,000 Active 6 DOM
4. 2026-06-16
   days on market $330,000 Active 5 DOM
5. 2026-06-15
   days on market $330,000 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $330,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $5,171 · $431/mo
• Projected year-2 tax: $6,331 · $528/mo
• Expected delta: +$1,160/yr (+$97/mo · 22.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,960
• − Mortgage interest: −$18,485
• − Property taxes: −$5,171
• − Insurance: −$1,650
• − Repairs & maintenance: −$1,997
• − Management: −$1,997
• − Depreciation: −$9,600
• Taxable loss: −$13,939
• Est. tax savings @ 24.0%: +$3,345
• After-tax cash flow: $-4,523/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Waukegan CUSD 60
• NCES district ID: 1741250
• Math proficiency: 7% ▼ -8.00%
• Reading proficiency: 10% ▼ -8.00%
• Median HH income: $43,248
• Composite: 7.73/100
• National rank: #9939
• State rank: #587 of 620 in IL

Livability — Waukegan

• Score: 75/100
• State rank: #216
• US rank: #4074

Category grades

Amenities D- Commute A+ Cost of living A+ Crime D Employment C- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukegan, IL
• County: Lake County · 591,991 people
• City population: 99,634
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 72,341
• Household income: $66,793
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 2742.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 700,217 people
• By 2030: 693,290 · -1.0%
• By 2040: 673,588 · -3.8%
• By 2050: 643,556 · -8.1%
• By 2075: 562,792 · -19.6%
• By 2100: 457,715 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 24% Black 14% White 14% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 51% Puerto Rican 3%
• Common ancestry: Romanian 1% British 1% Portuguese 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 54% Tagalog/Filipino 2% Other Asian/Pacific 1%

Political lean MEDSL · Lake

• 2024 margin: Strong D (+20.8) · D 59.7% · R 38.9% · Other 1.4%
• 2008→2024 swing: +1.1pp toward D · 2008: 19.6pp · 2024: 20.8pp
• All cycles: 2024: D+20.8 2020: D+24.1 2016: D+20.3 2012: D+8.1 2008: D+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.04%
• Current HPI: 203.6304
• Rent YoY: ▲ 3.24%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+560.0% since first listed

5 events — show timeline

• 2026-06-10 Listed $330,000 MRED as Distributed by MLS Grid
• 2025-01-09 Sold (Public Records) $135,000 Public Records
• 2007-04-30 Listing Removed — MRED as Distributed by MLS Grid
• 2006-05-01 Listed — MRED as Distributed by MLS Grid
• 1989-08-01 Sold (Public Records) $50,000 Public Records

Property tax history

+1.4%/yr

Latest (2024): $5,171 · +2.8% YoY. Source: county tax records.