87 Lake Ln · Fox Lake, IL 60020

$315,000

5 bd · 2.0 ba · 1,665 sqft · SingleFamily public records · 11 Days on market

Built 1933 10,454 sqft lot Est $390k · 19% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Bring your ideas and make this spacious home shine again! Offering 5 bedrooms, 2 full baths, a large kitchen with garden window, dining room with built-ins, first-floor primary bedroom, laundry area, 3-season room, plenty of storage, and ample parking, this home has tons of potential. The property also features a garage in wonderful condition that is deep enough to accommodate a boat, making it ideal for lake-area living. Located just two lots from Pistakee Lake access, this is a great opportunity for an owner-occupant, investor, or rehab buyer. The home needs updating and TLC, but several major improvements have already been completed, including a water heater in 2022, furnace and central

Key facts

• Laundry area
• Large kitchen
• Garden window

Tags

• LARGE KITCHEN
• GARDEN WINDOW
• DINING ROOM WITH BUILT-INS
• FIRST-FLOOR PRIMARY BEDROOM
• LAUNDRY AREA
• 3-SEASON ROOM

Property features AI

Finance

• HOA & community: No master association fee required; Community features include water rights, street lights and paved streets

Exterior

• Parking: Two-car garage (detached, owned); Additional parking for up to 6 vehicles total; Gravel driveway with side apron
• Utilities: Public water; Public sewer; Electric with circuit breakers and 100 amp service
• Home design: Detached single-family home; Two-story model; Fee simple ownership; Built more than 90 years ago; Asphalt roof
• Construction: Vinyl siding; Block and concrete perimeter foundation; Built before 1978
• Exterior features: Screened patio/porch; Wooded lot; Lot dimensions approximately 100 x 45

Interior

• Kitchen: Kitchen with eating area, breakfast bar and island; Range; Dishwasher; Refrigerator
• Bedrooms: Five bedrooms total; Master bedroom on main level (carpet); Bedroom 5 on main level (19 x 13); Three bedrooms on second level (two 11 x 11, one 11 x 10) — all carpet
• Flooring: Carpet in multiple bedrooms and enclosed porch; Vinyl in dining room and kitchen; Other flooring in family room
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Eight total rooms; Unfinished attic; Separate dining room; Crawl space basement; Screened enclosed porch (main level)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $315k).
• Cap rate 18.6% vs local median 6.0% in Fox Lake — 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 74/100 on livability (#247 in IL, #4,462 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: amenities D+, health & safety F.
• Grant Chsd 124 (suburban): math 23% / reading 27% proficiency, ranked #296 of 620 in IL (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grant Community High School (math 23% / reading 27%, grade F, #247 of 693 statewide, top 36%, 1,837 students, 0% FRL).
• Market conditions: 78 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $162k; list at $315k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,000

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 2.16% ✓
• Cap rate: 18.60%
• Cash-on-cash: 43.96%
• DSCR: 2.96
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $389,610
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
96 Lake Ln	0.06mi	4/2.0 (-1)	1,590 (-4%)	9mo	$625,000	$393	77
111 Manor Ave	0.14mi	4/1.5 (-1)	1,752 (+5%)	1mo	$410,000	$234	77
35 Tremont Rd	0.06mi	4/2.5 (-1)	1,862 (+12%)	4mo	$310,000	$166	67

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.3%
• Equity multiple: 2.45×
• Total profit: $127,936
• Equity at exit: $46,968

10-year hold

• IRR: 41.2%
• Equity multiple: 4.89×
• Total profit: $342,812
• Equity at exit: $27,235

Cash invested: $88,200 (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 60020

• Home prices YoY: -30.7%
• Active inventory: 78
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $6,795 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$353 /mo · $4,238/yr
• Insurance: −$131
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,427
• Net cashflow: $2,805

Break-even live

Break-even rent $3,244

Max offer price $315,000

Occupancy floor 54%

Sensitivity live

Price	-10% $2,983	-5% $2,894	+0% $2,805	+5% $2,716	+10% $2,626
Rent	-10% $2,268	-5% $2,536	+0% $2,805	+5% $3,073	+10% $3,342
Rate	-1.0pp $2,963	-0.5pp $2,885	base $2,805	+0.5pp $2,723	+1.0pp $2,640

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 N Pistakee Lake Rd Unit 1374789P Fox Lake, IL	4.0	2.0	1991	$6,280	$3.15	5d	1	0.44mi
184 E Grand Ave Unit 1374785P Fox Lake, IL	4.0	3.0	1593	$7,875	$4.94	6d	1	1.06mi

Listing history 7 events

1. 2026-06-13
   statusdays on market $315,000 Pending 11 DOM
2. 2026-06-09
   days on market $315,000 Active 7 DOM
3. 2026-06-08
   days on market $315,000 Active 6 DOM
4. 2026-06-07
   days on market $315,000 Active 5 DOM
5. 2026-06-04
   days on market $315,000 Active 2 DOM
6. 2026-06-02
   remarks 699-char remark
7. 2026-06-02
   listed $315,000 Active 1 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: $4,238 · $353/mo
• Projected year-2 tax: $5,694 · $475/mo
• Expected delta: +$1,456/yr (+$121/mo · 34.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,534
• − Mortgage interest: −$17,645
• − Property taxes: −$4,238
• − Insurance: −$6,694
• − Repairs & maintenance: −$6,523
• − Management: −$6,523
• − Depreciation: −$9,164
• Taxable income: $30,749
• Est. tax owed @ 24.0%: −$7,380
• After-tax cash flow: $26,278/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: Grant Chsd 124
• NCES district ID: 1717340
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 27% ▼ -7.00%
• Median HH income: $59,450
• Composite: 22.95/100
• National rank: #7989
• State rank: #296 of 620 in IL

Livability — Fox Lake

• Score: 74/100
• State rank: #247
• US rank: #4462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fox Lake, IL
• City population: 10,846
• Population (ZIP): 10,846

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: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 15% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -97.19%
• Current HPI: 219.6301
• Rent YoY: —
• Metro: —
• 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

+584.8% since first listed

16 events — show timeline

• 2026-06-02 Listed $315,000 MRED as Distributed by MLS Grid
• 2011-04-13 Listing Removed — MRED as Distributed by MLS Grid
• 2010-09-01 Price Changed — MRED as Distributed by MLS Grid
• 2010-07-26 Price Changed — MRED as Distributed by MLS Grid
• 2010-07-10 Listed — MRED as Distributed by MLS Grid
• 2010-03-13 Listing Removed — MRED as Distributed by MLS Grid
• 2010-02-15 Price Changed — MRED as Distributed by MLS Grid
• 2010-02-04 Listed — MRED as Distributed by MLS Grid
• 2007-04-02 Sold (Public Records) $162,000 Public Records
• 2007-03-23 Sold (MLS) $162,000 MRED as Distributed by MLS Grid
• 2007-02-20 Listing Removed — MRED as Distributed by MLS Grid
• 2007-02-19 Listed $169,000 MRED as Distributed by MLS Grid
• 2007-02-11 Listing Removed — MRED as Distributed by MLS Grid
• 2006-08-29 Listed — MRED as Distributed by MLS Grid
• 2004-03-26 Sold (Public Records) $144,000 Public Records
• 1985-03-01 Sold (Public Records) $46,000 Public Records

Property tax history

+1.5%/yr

Latest (2024): $4,238 · +2.9% YoY. Source: county tax records.