1216 N Northwest Hwy · Park Ridge, IL 60068

$500,000

4 bd · 2.5 ba · 2,045 sqft · MultiFamily public records · 19 Days on market

Built 1954 7,405 sqft lot

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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 +4.5/10.0
• Livability +4.4/5.0
• DSCR +4.0/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Rare opportunity in sought-after Park Ridge, this solid 2-unit property is ideal for investors or owner-occupants looking for rental income with future flexibility to convert back to a single-family home. Both units are currently occupied and feature hardwood flooring throughout. The first-floor unit offers approximately 750 sq ft with 5 rooms plus a sunroom, including 2 bedrooms, 1 bath, kitchen, dining room and living room. The second-floor unit provides approximately 600 sq ft with 2 bedrooms, 1 bath, an eat-in kitchen, and living room. Each unit includes one garage space and driveway parking. The property also features a full basement with coin laundry and ample storage, a fenced backya

Key facts

• Hardwood flooring
• Coin laundry
• 2 unit property

Tags

• 2 UNIT PROPERTY
• HARDWOOD FLOORING
• FENCED BACKYARD
• FULL BASEMENT
• COIN LAUNDRY
• AMPLE STORAGE

Property features AI

Finance

• Other: Holds earnest money; Possession at closing
• Financial info: Special service area: No; Unit 1 current rent: $1,250 (lease through March 1, 2027); Unit 2 current rent: $1,350 (month-to-month); Building has 2 rental units

Exterior

• Parking: Detached garage providing two garage spaces (two total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building (2 units); Fee simple ownership; Built before 1978
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Estimated age 71–80 years
• Exterior features: Lot under 0.25 acre; Lot size per county records

Interior

• Kitchen: Each unit includes a stove and refrigerator
• Bedrooms: Four bedrooms total; Unit 1 (first floor): 2 bedrooms; Unit 2 (second floor): 2 bedrooms
• Flooring: Hardwood floors in both units
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Baseboard heating
• Interior features: Nine total rooms; Partially finished full basement
• Laundry & utility: Tenant pays electric for each unit

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $2 ($29/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $473k (5.4% below list).
• Recommended offer: $473k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.6% in Park Ridge — 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 88/100 on livability (#10 in IL, #248 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Maine Township Hsd 207 (suburban): math 34% / reading 39% proficiency, ranked #143 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Elementary School (math 41% / reading 52%, grade D-, #247 of 2,056 statewide, top 12%, 551 students, 0% FRL); Emerson Middle School (math 39% / reading 45%, grade D-, #116 of 665 statewide, top 19%, 880 students, 0% FRL); Maine South High School (math 52% / reading 57%, grade C-, #28 of 693 statewide, top 4%, 2,495 students, 0% FRL).
• Market conditions: 108 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 40% of the median local income ($143k/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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $126k; list at $500k implies a 298% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $473,100 (5.4% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-80,623
• Equity at exit: $74,552

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-69,017
• Equity at exit: $43,231

Cash invested: $140,000 (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 60068

• Active inventory: 108
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $4,731 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$905 /mo · $10,856/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$994
• Net cashflow: $2

Break-even live

Break-even rent $4,728

Max offer price $500,000

Occupancy floor 95%

Sensitivity live

Price	-10% $285	-5% $144	+0% $2	+5% $-139	+10% $-281
Rent	-10% $-371	-5% $-184	+0% $2	+5% $189	+10% $376
Rate	-1.0pp $254	-0.5pp $130	base $2	+0.5pp $-127	+1.0pp $-259

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,732
Total (2 units)			$4,731

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1316 N Northwest Hwy Unit 2 Park Ridge, IL	3.0	2.0	1400	$2,950	$2.11	26d	1	0.20mi
1108 Fortuna Ave Unit 2 Park Ridge, IL	3.0	1.5	1850	$3,500	$1.89	26d	1	0.25mi
1108 Fortuna Ave Unit 2 Park Ridge, IL	3.0	1.5	1850	$3,500	$1.89	20d	1	0.25mi
1108 Fortuna Ave Unit 1 Park Ridge, IL	3.0	1.5	1850	$3,500	$1.89	6d	1	0.25mi
1108 Fortuna Ave Unit 2 Park Ridge, IL	3.0	1.5	1850	$3,500	$1.89	12d	1	0.25mi
851 N Northwest Hwy Unit 2 Park Ridge, IL	3.0	2.0	2428	$2,795	$1.15	8d	1	0.68mi
8841 Chester Ave Unit 3 Niles, IL	3.0	2.0	1600	$2,700	$1.69	12d	1	1.30mi
9268 Barberry Ln Des Plaines, IL	3.0	2.5	1568	$3,000	$1.91	18d	1	1.32mi
9275 Hamlin Ave Des Plaines, IL	3.0	1.5	2000	$2,550	$1.27	1d	1	1.40mi
8418 W Oak Ave Unit 3 Niles, IL	3.0	1.5	1900	$2,450	$1.29	26d	1	1.41mi

Listing history 18 events

1. 2026-06-21
   days on market $500,000 Active 19 DOM
2. 2026-06-18
   days on market $500,000 Active 16 DOM
3. 2026-06-17
   statusdays on market $500,000 Active 15 DOM
4. 2026-06-16
   days on market $500,000 Contingent - Continue to Show 14 DOM
5. 2026-06-15
   days on market $500,000 Contingent - Continue to Show 13 DOM
6. 2026-06-13
   days on market $500,000 Contingent - Continue to Show 11 DOM
7. 2026-06-13
   statusdays on market $500,000 Contingent - Continue to Show 10 DOM
8. 2026-06-09
   days on market $500,000 Active 7 DOM
9. 2026-06-08
   days on market $500,000 Active 6 DOM
10. 2026-06-07
    days on market $500,000 Active 5 DOM
11. 2026-06-04
    days on market $500,000 Active 2 DOM
12. 2026-06-02
    pricedays on marketlisting id $500,000 Active 1 DOM
13. 2026-06-01
    days on market $545,000 Active 47 DOM
14. 2026-05-31
    days on market $545,000 Active 46 DOM
15. 2026-04-15
    listed $545,000 Active
16. 1985-11-05
    soldstatus $125,500
17. 1985-10-01
    soldstatus $125,250
18. 1982-06-10
    soldstatus $115,000

ⓘ 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: $10,856 · $905/mo
• Projected year-2 tax: $11,103 · $925/mo
• Expected delta: +$247/yr (+$21/mo · 2.3%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,772
• − Mortgage interest: −$28,008
• − Property taxes: −$10,856
• − Insurance: −$2,500
• − Repairs & maintenance: −$4,542
• − Management: −$4,542
• − Depreciation: −$14,545
• Taxable loss: −$8,221
• Est. tax savings @ 24.0%: +$1,973
• After-tax cash flow: $2,002/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: Maine Township Hsd 207
• NCES district ID: 1724090
• Math proficiency: 34% ▼ -13.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $79,034
• Composite: 34.36/100
• National rank: #5220
• State rank: #143 of 620 in IL

Livability — Park Ridge

• Score: 88/100
• State rank: #10
• US rank: #248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park Ridge, IL
• County: Cook County · 4,486,803 people
• City population: 38,650
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 38,650
• Household income: $143,222
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 371.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 6% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 18% Subsaharan African 2% Portuguese 2%
• Foreign-born: 15% · Canada
• Languages at home: 78% English-only · Russian/Polish/Slavic 9% Other Indo-European 4% Spanish 4%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -385.79%
• Current HPI: 177.7376
• Rent YoY: —
• 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

+373.9% since first listed

4 events — show timeline

• 2026-04-15 Listed $545,000 MRED as Distributed by MLS Grid
• 1985-11-05 Sold (Public Records) $125,500 Public Records
• 1985-10-01 Sold (Public Records) $125,250 Public Records
• 1982-06-10 Sold (Public Records) $115,000 Public Records

Property tax history

+1.2%/yr

Latest (2023): $10,856 · +4.4% YoY. Source: county tax records.