1529 Greenleaf St · Evanston, IL 60202

$895,000

4 bd · 4.0 ba · 5,656 sqft · Condo public records · 42 Days on market

Built 1927

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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).

• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Cash flow +2.5/30.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

OWNER-USER or INVESTOR OPPORTUNITY! Check out this 5-unit, mixed-use building located in the Arts District neighborhood! It is comprised of (2) commercial units, (2) 2-bed / 1-bath & (1) 1-bed / 1-bath apartment. The larger commercial unit with will be vacant at the end of May. That unit is approximately 1,650-SF. There is an unfinished basement. All of the apartments were freshly updated in 2017, all have in-unit washer / dryers and a shared outdoor space on the second floor. It currently generates $87,840 in gross income with the ability to increase rents in current condition. The windows were all replaced in 2017, water heaters were both replaced in the last 2 years, and the lower

Key facts

• Shared outdoor space
• Unfinished basement
• Windows replaced

Tags

• IN-UNIT WASHER DRYERS
• SHARED OUTDOOR SPACE
• UNFINISHED BASEMENT
• WINDOWS REPLACED
• WATER HEATERS REPLACED
• ROOF REPLACED

Property features AI

Finance

• Other: Property listed as having 5 total units; Location note: located on the north side of Greenleaf Street near Florence Avenue
• Financial info: Total monthly income reported as $7,320; Gross income reported as $87,840; Gross rent multiplier reported as 10.2; Operating expense examples reported: water/sewer $965, electric $542, trash $391, insurance $3,550
• HOA & community: HOA information not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Electric service on separate meters
• Home design: Mixed Use property; Built before 1978
• Construction: Year built: prior to 1978; Construction materials and roof/foundation details not provided
• Exterior features: Lot dimensions approximately 35 x 90

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Total of 5 residential units (bedroom counts per unit not provided)
• Flooring: Flooring details not provided
• Bathrooms: Bathroom details not provided
• Heating & cooling: Gas heating; Window air conditioning units
• Interior features: Mixed-use interior layout (residential and commercial spaces)
• Laundry & utility: Three washers on site; Three dryers on site; Washer/dryer are not leased

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath condo listed at $895k.

Deal economics

• At list price, monthly cash flow is $-3k ($-37k/yr) — negative.
• To cash-flow at today's rent, offer at most $344k (61.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $389k (56.5% below list).
• Recommended offer: $344k (61.6% below list) — sets the bar for cash-flow.
• Cap rate 2.1% vs local median 2.9% in Evanston — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 85/100 on livability (#26 in IL, #464 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Evanston Twp Hsd 202 (urban): math 47% / reading 52% proficiency, ranked #54 of 620 in IL (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 72 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $3,893/mo this rent would consume 47% of the median local household income ($99k/yr) (locally 784% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($868k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $300k; list at $895k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $343,789 (61.6% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 62% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.44% ✗
• Cap rate: 2.11%
• Cash-on-cash: -14.94%
• DSCR: 0.34
• GRM: 19.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -43.6%
• Equity multiple: -0.35×
• Total profit: $-338,336
• Equity at exit: $133,447

10-year hold

• IRR: -67.5%
• Equity multiple: -1.11×
• Total profit: $-527,644
• Equity at exit: $77,383

Cash invested: $250,600 (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 60202

• Rents YoY: 4.3%
• Active inventory: 72
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $3,893 medium
• Mortgage (P&I): −$4,693
• Tax from tax record: −$1,130 /mo · $13,557/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$818
• Net cashflow: $-3,120

Break-even live

Break-even rent $7,843

Max offer price $343,789

Occupancy floor —

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1217 Ridge Ave Evanston, IL	5.0	5.5	7000	$11,000	$1.57	12d	1	0.35mi
8734 Kimball Ave #1 Skokie, IL	3.0	3.0	4000	$4,500	$1.12	24d	1	1.02mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $895,000 Active 42 DOM
2. 2026-06-17
   days on market $895,000 Active 41 DOM
3. 2026-06-16
   days on market $895,000 Active 40 DOM
4. 2026-06-15
   days on market $895,000 Active 39 DOM
5. 2026-06-13
   days on market $895,000 Active 37 DOM
6. 2026-06-09
   days on market $895,000 Active 33 DOM
7. 2026-06-08
   days on market $895,000 Active 32 DOM
8. 2026-06-07
   days on market $895,000 Active 31 DOM
9. 2026-06-04
   days on market $895,000 Active 28 DOM
10. 2026-06-03
    days on market $895,000 Active 27 DOM
11. 2026-06-02
    days on market $895,000 Active 26 DOM
12. 2026-06-01
    days on market $895,000 Active 25 DOM
13. 2026-05-31
    days on market $895,000 Active 24 DOM
14. 2017-03-14
    soldstatus $300,000
15. 2015-09-11
    historical
16. 2015-06-16
    listed New
17. 1977-01-03
    soldstatus $70,000

ⓘ 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: $13,557 · $1,130/mo
• Projected year-2 tax: $16,937 · $1,411/mo
• Expected delta: +$3,380/yr (+$282/mo · 24.9%)

ⓘ 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 ≥98°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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,722
• − Mortgage interest: −$50,134
• − Property taxes: −$13,557
• − Insurance: −$4,475
• − Repairs & maintenance: −$3,738
• − Management: −$3,738
• − Depreciation: −$26,036
• Taxable loss: −$54,956
• Est. tax savings @ 24.0%: +$13,189
• After-tax cash flow: $-24,254/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: Evanston Twp Hsd 202
• NCES district ID: 1714490
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $72,672
• Composite: 44.52/100
• National rank: #2794
• State rank: #54 of 620 in IL

Livability — Evanston

• Score: 85/100
• State rank: #26
• US rank: #464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evanston, IL
• County: Cook County · 4,486,803 people
• City population: 76,085
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,341
• Household income: $98,989
• Rent vs Own: 41.9% rent · 58.1% own
• Severe rent burden: 784.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 54% Black 18% Hispanic / Latino 14% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 8% Scotch-Irish 2% Portuguese 2%
• Foreign-born: 19% · Canada, Jamaica, Vietnam
• Languages at home: 73% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -245.25%
• Current HPI: 172.9605
• Rent YoY: ▲ 4.35%
• 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

+328.6% since first listed

4 events — show timeline

• 2017-03-14 Sold (Public Records) $300,000 Public Records
• 2015-09-11 Listing Removed — MRED as Distributed by MLS Grid
• 2015-06-16 Listed — MRED as Distributed by MLS Grid
• 1977-01-03 Sold (Public Records) $70,000 Public Records

Property tax history

-0.1%/yr

Latest (2023): $13,557 · +4.2% YoY. Source: county tax records.