1194 Ballantrae Pl Unit B · Mundelein, IL 60060

$249,000

2 bd · 1.0 ba · 1,030 sqft · Condo public records · 25 Days on market

Built 1986 $378/mo HOA · 15% 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 +15.3/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +4.7/10.0
• Livability +4.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 2-bedroom, 1-bath first-floor manor home located in the desirable Cambridge Chase subdivision of Mundelein. This unit offers a fantastic opportunity for buyers looking to create their ideal living space with updates and personal touches. Being sold as-is, it's perfect for investors or homeowners ready to add value. Clubhouse and Swimming Pool as well. Conveniently situated near public transportation, 294 and 41 only minutes away, and the shopping and dining options along Route 60, everything you need is right at your fingertips. Located within the highly regarded Hawthorn School District 73 and Vernon Hills High School boundaries, this home combines location, potential, and

Key facts

• $378 HOA
• Garage
• Community pool

Tags

• FIRST-FLOOR MANOR HOME
• CAMBRIDGE CHASE SUBDIVISION
• PUBLIC TRANSPORTATION
• SHOPPING AND DINING OPTIONS
• HAWTHORN SCHOOL DISTRICT 73

Property features AI

Finance

• Other: Association amenities include park and pool; Property ownership: Condo
• HOA & community: Monthly association fee of $378; Association fee includes water, parking, insurance, clubhouse, pool, exterior maintenance, lawn care, scavenger, and snow removal; Manager off-site; Pets allowed (cats and dogs; large maximum pet weight listed)

Exterior

• Parking: Attached garage with garage door opener (garage owned); Asphalt driveway; Three parking spaces total (one garage space)
• Utilities: Water source: Lake Michigan; Public sewer; 100 amp electric service
• Home design: Attached single condo; One living level; Unit in a 4-unit building; Asphalt roof; Vinyl siding and brick exterior; Concrete perimeter foundation; Age: 31–40 years; Commuter-friendly (school bus service, commuter train, interstate access)
• Construction: Built with vinyl siding and brick; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Common grounds

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Kitchen on the main level (10 x 10)
• Bedrooms: Two bedrooms (both on the main level) — Primary bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms
• Laundry & utility: Main-level laundry room (7 x 6)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $249k).
• Recommended offer: $245k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.1% in Mundelein — 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 87/100 on livability (#12 in IL, #274 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F.
• Chsd 128 (suburban): math 60% / reading 63% proficiency, ranked #22 of 620 in IL (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Vernon Hills High School (math 63% / reading 64%, grade B-, #14 of 693 statewide, top 2%, 1,505 students, 0% FRL).
• Market conditions: Rents rising (+2.7%/yr); 32 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $7k 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

• It's been on market 25 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Recommended offer $245,265 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.00% ✓
• Cap rate: 6.73%
• Cash-on-cash: 1.58%
• DSCR: 1.07
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.67% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.50×
• Total profit: $-35,205
• Equity at exit: $37,127

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-25,962
• Equity at exit: $21,529

Cash invested: $69,720 (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 60060

• Rents YoY: 2.7%
• Active inventory: 32
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,490 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$88 /mo · $1,056/yr
• Insurance: −$104
• HOA: −$378
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $92

Break-even live

Break-even rent $2,374

Max offer price $249,000

Occupancy floor 91%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Huntington Dr Mundelein, IL	3.0	1.0–2.0	972	$3,254	$3.35	1d	26	0.11mi
1219 Huntington Dr Mundelein, IL	2.0	1.5	1024	$2,395	$2.34	24d	1	0.12mi
118 Bedford Rd Mundelein, IL	2.0	1.5	1024	$2,350	$2.29	2d	1	0.18mi
20 Echo Ct #3 Vernon Hills, IL	1.0	1.5	818	$1,800	$2.20	24d	1	0.87mi
18 Echo Ct Vernon Hills, IL	2.0	1.5	1050	$2,300	$2.19	24d	1	0.87mi
473 Stevenson Pl Vernon Hills, IL	3.0	1.5	1200	$2,400	$2.00	3d	1	0.90mi
4 Echo Ct #16 Vernon Hills, IL	2.0	1.5	948	$2,000	$2.11	24d	1	0.91mi
6 Parkside Ct #2 Vernon Hills, IL	2.0	1.5	948	$2,000	$2.11	24d	1	0.95mi
474 Harrison Ct Vernon Hills, IL	3.0	1.5	1200	$2,350	$1.96	17d	1	0.97mi
476 Harrison Ct Vernon Hills, IL	2.0	1.0	1092	$2,200	$2.01	22d	1	0.97mi
1003 Centurion Ln #7 Vernon Hills, IL	2.0	1.5	998	$2,100	$2.10	3d	1	1.06mi
2 Timber Ln #17 Vernon Hills, IL	2.0	1.5	948	$1,850	$1.95	24d	1	1.06mi
13 Crestview Ln #12 Vernon Hills, IL	2.0	1.5	948	$1,750	$1.85	7d	1	1.08mi
4 Crestview Ln #10 Vernon Hills, IL	2.0	1.5	948	$1,875	$1.98	22d	1	1.13mi
1411 Wentworth Ct #1411 Vernon Hills, IL	2.0	2.0	1189	$2,300	$1.93	22d	1	1.14mi
174 Bluewater Ln #288 Vernon Hills, IL	3.0	2.0	1450	$2,650	$1.83	2d	1	1.16mi
226 Coventry Cir Vernon Hills, IL	3.0	2.0	1450	$2,800	$1.93	24d	1	1.16mi
1312 Coventry Cir #1312 Vernon Hills, IL	3.0	2.0	1424	$2,800	$1.97	24d	1	1.16mi
1250 Streamwood Ln #338 Vernon Hills, IL	3.0	2.0	1424	$2,750	$1.93	24d	1	1.18mi
1254 N Streamwood Ln Unit 1254 Vernon Hills, IL	3.0	2.0	1450	$2,850	$1.97	17d	1	1.19mi
1310 Cromwell Ct #1310 Vernon Hills, IL	2.0	1.0	1180	$2,250	$1.91	24d	1	1.21mi
250 Plaza Cir Mundelein, IL	2.0	1.0–2.0	839	$2,671	$3.18	1d	21	1.22mi
728 N Diamond Lake Rd Unit 409 Mundelein, IL	1.0	1.0	1150	$2,200	$1.91	24d	1	1.23mi
841 Gladstone Dr Vernon Hills, IL	2.0	1.5	1172	$2,299	$1.96	24d	1	1.25mi
184 Brook Ln #350 Vernon Hills, IL	3.0	2.0	1490	$2,600	$1.74	24d	1	1.26mi
271 Southwick Ct Unit 271 Vernon Hills, IL	2.0	1.0	1189	$2,250	$1.89	24d	1	1.28mi
538 Morris Ave Mundelein, IL	1.0–2.0	1.0–2.0	943	$2,874	$3.05	2d	17	1.45mi

HOA detail condo

• Monthly dues: $378 · $4,536/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-07
   statusdays on market $249,000 Pending 25 DOM
2. 2026-06-04
   days on market $249,000 Contingent - Continue to Show 23 DOM
3. 2026-06-03
   days on market $249,000 Contingent - Continue to Show 22 DOM
4. 2026-06-02
   days on market $249,000 Contingent - Continue to Show 21 DOM
5. 2026-06-01
   days on market $249,000 Contingent - Continue to Show 20 DOM
6. 2026-05-31
   days on market $249,000 Contingent - Continue to Show 19 DOM
7. 2026-05-16
   historical Contingent - Continue to Show
8. 2026-05-12
   listed $249,000 Active

ⓘ 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: $1,056 · $88/mo
• Projected year-2 tax: $3,354 · $280/mo
• Expected delta: +$2,298/yr (+$192/mo · 217.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $29,881
• − Mortgage interest: −$13,948
• − Property taxes: −$1,056
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,390
• − Management: −$2,390
• − HOA: −$4,536
• − Depreciation: −$7,244
• Taxable loss: −$2,929
• Est. tax savings @ 24.0%: +$703
• After-tax cash flow: $1,802/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: Chsd 128
• NCES district ID: 1722830
• Math proficiency: 60% ▼ -13.00%
• Reading proficiency: 63% ▼ -9.00%
• Median HH income: $100,202
• Composite: 57.11/100
• National rank: #1101
• State rank: #22 of 620 in IL

Livability — Mundelein

• Score: 87/100
• State rank: #12
• US rank: #274

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mundelein, IL
• County: Lake County · 591,991 people
• City population: 37,344
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 37,344
• Household income: $110,335
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 750.0

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 0.61)
• Race & ethnicity: White 50% Hispanic / Latino 35% Two or more races 14% Asian 10% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Romanian 6% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 55% English-only · Spanish 29% Russian/Polish/Slavic 5% Other Indo-European 4%

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: ▼ -173.41%
• Current HPI: 201.0795
• Rent YoY: ▲ 2.67%
• 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

2 events — show timeline

• 2026-05-16 Contingent — MRED as Distributed by MLS Grid
• 2026-05-12 Listed $249,000 MRED as Distributed by MLS Grid

Property tax history

-2.7%/yr

Latest (2024): $1,056 · -4.1% YoY. Source: county tax records.