1000 S Lorraine Rd #411 · Wheaton, IL 60189

$209,900

2 bd · 1.5 ba · 975 sqft · Condo public records · 3 Days on market

Built 1971 $540/mo HOA · 22% of rent

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Why this score? — see what drove the D+ 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 +13.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• DSCR +4.0/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super clean, sunny updated 2 bedroom, features 1 full bath and a half bath. In unit washer/dryer. Beautiful kitchen with 42 inch cabinets and stainless appliances. Hardwood floors in kitchen, dining room area and hallways. Large storage unit on same floor. 1 car garage plus two parking spaces. School District 200!!! Close to College of DuPage, parks, shopping and restaurants.

Key facts

• Metra service
• Celebrated parks
• $540 HOA

Tags

• LOW MAINTENANCE LIVING
• VIBRANT DOWNTOWN DISTRICT
• METRA SERVICE
• ILLINOIS PRAIRIE PATH
• BIKING AND HIKING TRAILS
• CELEBRATED PARKS

Property features AI

Finance

• Other: Building contains 66 units; School bus and commuter bus service available
• Financial info: Homeowner tax exemption noted
• HOA & community: Monthly association fee of $540; Association fee includes heat, water, gas, parking, insurance, exterior maintenance, lawn care, scavenger, and snow removal; Manager off-site; Storage and security door locks provided by association; Pets allowed (cats and dogs) with max pet weight around 50 lbs

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Assigned and guest parking; Total 3 parking spaces (1 garage space)
• Security: Security door locks (association amenity)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Attached single (condo); Condo ownership; Entry on 4th level; Building of roughly 51–60 years old; Brick construction
• Construction: Brick construction; Built before 1978
• Exterior features: Balcony; Landscaped grounds

Interior

• Kitchen: Galley kitchen; Range; Microwave; Dishwasher; Refrigerator; Disposal; Stainless steel appliances
• Bedrooms: 2 bedrooms (main level master and second bedroom on main)
• Flooring: Hardwood in main living areas and kitchen; Carpet in living room and bedrooms
• Bathrooms: 1 full bath; 1 half bath; Soaking tub
• Heating & cooling: Steam and baseboard heating; Wall unit cooling
• Interior features: Elevator; Storage
• Laundry & utility: Washer and dryer included; Washer hookup in unit (in bathroom); Laundry room on main

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-1 ($-7/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (0.1% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $210k (0.1% below list) — sets the bar for cash-flow.
• Cap rate 6.3% vs local median 3.7% in Wheaton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 86/100 on livability (#17 in IL, #374 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, health & safety D+, cost of living F.
• CUSD 200 (suburban): math 43% / reading 44% proficiency, ranked #78 of 620 in IL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elem School (math 62% / reading 52%, grade C+, #89 of 2,056 statewide, top 5%, 483 students, 0% FRL); Edison Middle School (math 33% / reading 42%, grade F, #165 of 665 statewide, top 25%, 674 students, 0% FRL); Wheaton Warrenville South H S (math 41% / reading 48%, grade F, #62 of 693 statewide, top 10%, 1,845 students, 0% FRL) — zoned schools average 0% FRL vs 23% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 52 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 19y 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 $140k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $209,791

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 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.35% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-32,879
• Equity at exit: $31,297

10-year hold

• IRR: -6.1%
• Equity multiple: 0.59×
• Total profit: $-23,855
• Equity at exit: $18,148

Cash invested: $58,772 (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 60189

• Rents YoY: 3.4%
• Active inventory: 52
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,417 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$182 /mo · $2,185/yr
• Insurance: −$87
• HOA: −$540
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-1

Break-even live

Break-even rent $2,418

Max offer price $209,791

Occupancy floor 95%

Sensitivity live

Price	-10% $118	-5% $59	+0% $-1	+5% $-60	+10% $-119
Rent	-10% $-192	-5% $-96	+0% $-1	+5% $95	+10% $190
Rate	-1.0pp $105	-0.5pp $53	base $-1	+0.5pp $-55	+1.0pp $-110

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 Ramblewood Dr Glen Ellyn, IL	1.0	1.0	647	$1,525	$2.36	27d	1	0.79mi
32 N Main St Unit 1S Glen Ellyn, IL	2.0	1.0	655	$1,850	$2.82	5d	1	0.81mi
21 N Main St Glen Ellyn, IL	1.0–2.0	1.0	850	$1,595	$1.88	4d	17	0.88mi
1750 22nd St Wheaton, IL	1.0–3.0	1.0–2.0	873	$1,683	$1.93	1d	7	0.90mi
470 Fawell Blvd #218 Glen Ellyn, IL	2.0	2.0	993	$2,150	$2.17	27d	1	1.04mi
1607 Thames Ct Unit D Wheaton, IL	2.0	1.0	1056	$2,150	$2.04	20d	1	1.06mi
953 Park Plz Unit 4 Glen Ellyn, IL	2.0	1.0	850	$1,790	$2.11	10d	1	1.16mi
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$4,073	$3.84	26d	16	1.17mi
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$4,063	$3.83	0d	10	1.17mi
302 W Liberty Dr Wheaton, IL	2.0	2.0	1194	$2,885	$2.42	0d	3	1.50mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-22
   days on market $209,900 Active 3 DOM
2. 2026-06-21
   remarks 699-char remark
3. 2026-06-21
   listed $209,900 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: $2,185 · $182/mo
• Projected year-2 tax: $3,475 · $290/mo
• Expected delta: +$1,290/yr (+$107/mo · 59.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥105°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,007
• − Mortgage interest: −$11,758
• − Property taxes: −$2,185
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − HOA: −$6,480
• − Depreciation: −$6,106
• Taxable loss: −$3,212
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $763/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: CUSD 200
• NCES district ID: 1742180
• Math proficiency: 43% ▼ -6.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $85,077
• Composite: 40.75/100
• National rank: #3653
• State rank: #78 of 620 in IL

Livability — Wheaton

• Score: 86/100
• State rank: #17
• US rank: #374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheaton, IL
• County: DuPage County · 904,569 people
• City population: 59,857
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 31,042
• Household income: $128,878
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 484.0

Population outlook (DuPage County) Hauer SSP2

• Today (2025): 960,187 people
• By 2030: 965,850 · +0.6%
• By 2040: 965,812 · +0.6%
• By 2050: 954,890 · -0.6%
• By 2075: 910,185 · -5.2%
• By 2100: 816,255 · -15.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 10% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, Philippines, China
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · DuPage

• 2024 margin: D (+13.3) · D 55.9% · R 42.5% · Other 1.6%
• 2008→2024 swing: +2.5pp toward D · 2008: 10.8pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+18.1 2016: D+14.1 2012: D+1.0 2008: D+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -254.37%
• Current HPI: 212.2464
• Rent YoY: ▲ 3.35%
• 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

+20.0% since first listed

20 events — show timeline

• 2026-06-19 Listed $209,900 MRED as Distributed by MLS Grid
• 2021-11-04 Sold (Public Records) $140,000 Public Records
• 2021-05-27 Sold (MLS) $140,000 MRED as Distributed by MLS Grid
• 2021-05-10 Pending — MRED as Distributed by MLS Grid
• 2021-05-04 Relisted — MRED as Distributed by MLS Grid
• 2021-04-16 Pending — MRED as Distributed by MLS Grid
• 2021-04-16 Relisted — MRED as Distributed by MLS Grid
• 2021-04-16 Pending — MRED as Distributed by MLS Grid
• 2021-04-16 Pending — MRED as Distributed by MLS Grid
• 2021-03-11 Listed $146,900 MRED as Distributed by MLS Grid
• 2014-10-21 Sold (Public Records) $100,100 Public Records
• 2014-10-20 Sold (MLS) $100,000 MRED as Distributed by MLS Grid
• 2014-09-19 Contingent — MRED as Distributed by MLS Grid
• 2014-09-16 Price Changed $105,000 MRED as Distributed by MLS Grid
• 2014-08-22 Listed $107,500 MRED as Distributed by MLS Grid
• 2008-09-05 Sold (Public Records) $15,500 Public Records
• 2007-06-27 Sold (Public Records) $175,000 Public Records
• 2007-06-15 Sold (MLS) $174,900 MRED as Distributed by MLS Grid
• 2007-03-27 Listing Removed — MRED as Distributed by MLS Grid
• 2007-03-17 Listed $174,900 MRED as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2024): $2,185 · -14.8% YoY. Source: county tax records.