7234 W North Ave #707 · Elmwood Park, IL 60707

$90,000

1 bd · 1.0 ba · 750 sqft · Condo · 36 Days on market

Built 1976 $120/sqft · 34% below area Est $136k · 34% under $370/mo HOA · 22% of rent

---

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 +24.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +7.9/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright and open 1-bedroom north viewing condo in Cameo Towers on the 7th floor. Lots of natural light with beautiful view of River Forest. Recently painted in neutral colors and professionally cleaned carpet. Comes with heated garage parking, laundry room and storage locker conveniently located on the same floor. Great location next to beautiful River Forest, Elmwood Park Restaurant Row and minutes from Oak Park downtown. Building has many amenities: pool, sundeck, huge party room. Check out Cameo Towers website for their photo gallery of the penthouse party room with gorgeous view, outdoor swimming pool with sundeck and common areas. Monthly assessment includes central heat, A/C, gas and water.

Key facts

• Generous storage
• Party room
• Garage parking

Tags

• POOL
• SUN DECK
• PARTY ROOM
• GARAGE PARKING
• OPEN-CONCEPT LIVING AREA
• GENEROUS STORAGE

Property features AI

Finance

• Other: Not currently leased; Manager on-site for building with 198 units; Directions: 1 block west of Harlem on North Avenue
• HOA & community: Monthly association fee of $370; HOA covers heat, air conditioning, water, gas, insurance, pool, exterior maintenance, and snow removal; On-site manager; Association amenities include coin laundry, storage, party room, and sundeck; Pets allowed (cats and dogs)

Exterior

• Utilities: Water: Lake Michigan / Public; Sewer: Public sewer; Power: (not specified)
• Home design: Attached single condo; Entry level: 7; Condo ownership
• Construction: Built 41–50 years ago; Glass and concrete construction; Built before 1978
• Exterior features: Common lot area; Lake Michigan and public water access; Public sewer

Interior

• Kitchen: Kitchen on main level (9 x 6)
• Bedrooms: Master bedroom on main level (16 x 11); Additional bedrooms (Bedroom 2, Bedroom 3, Bedroom 4)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Four total rooms; Commuter bus access; non-smoking building
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.4% in Elmwood Park — 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 83/100 on livability (#41 in IL, #865 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A-.
• Elmwood Park CUSD 401 (suburban): math 15% / reading 26% proficiency, ranked #403 of 620 in IL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elmwood Elem School (math 14% / reading 22%, grade F, #1,126 of 2,056 statewide, top 55%, 544 students, 0% FRL); Elm Middle School (math 13% / reading 30%, grade F, #402 of 665 statewide, top 61%, 660 students, 0% FRL); Elmwood Park High School (math 24% / reading 26%, grade F, #247 of 693 statewide, top 36%, 989 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.2%/yr); 58 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; HOA is 22% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.83% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.69%
• DSCR: 1.39
• GRM: 4.5

CMA / ARV

• ARV (median comp): $135,636
• List price: $90,000
• Delta: -33.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.19×
• Total profit: $4,662
• Equity at exit: $13,419

10-year hold

• IRR: 19.2%
• Equity multiple: 3.10×
• Total profit: $53,015
• Equity at exit: $7,782

Cash invested: $25,200 (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 60707

• Rents YoY: 7.2%
• Active inventory: 58
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$472
• Tax from tax record: −$243 /mo · $2,912/yr
• Insurance: −$38
• HOA: −$370
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $182

Break-even live

Break-even rent $1,420

Max offer price $90,000

Occupancy floor 84%

Sensitivity live

Price	-10% $233	-5% $208	+0% $182	+5% $157	+10% $132
Rent	-10% $52	-5% $117	+0% $182	+5% $248	+10% $313
Rate	-1.0pp $228	-0.5pp $205	base $182	+0.5pp $159	+1.0pp $135

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7234 W North Ave #508 Elmwood Park, IL	1.0	1.0	750	$1,600	$2.13	8d	1	0.02mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$2,075	$1.25	2d	41	0.24mi
2242 73rd Ave Unit GE Elmwood Park, IL	2.0	1.0	1000	$1,600	$1.60	25d	1	0.86mi
2300 N Harlem Ave Elmwood Park, IL	1.0–2.0	1.0–2.0	850	$1,375	$1.62	3d	11	0.90mi
2310 N Harlem Ave Apt 304 Elmwood Park, IL	2.0	1.0	950	$1,750	$1.84	44d	1	0.91mi
2336 N 72nd Ct Elmwood Park, IL	2.0	1.0	990	$1,640	$1.66	25d	1	0.97mi
2412 N 76th Ave Unit 3W Elmwood Park, IL	2.0	1.0	700	$1,600	$2.29	45d	1	1.11mi
2402 N 76th Ct Unit G Elmwood Park, IL	2.0	1.0	850	$1,700	$2.00	8d	1	1.12mi
2112 N Nashville Ave Chicago, IL	2.0–4.0	2.0–3.0	1482	$2,639	$1.78	4d	15	1.18mi
7709 W Marwood Ave Unit 3S Elmwood Park, IL	2.0	1.0	750	$1,995	$2.66	25d	1	1.28mi
2446 N 78th Ct Unit 2R Elmwood Park, IL	2.0	1.0	730	$1,695	$2.32	19d	1	1.33mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$3,274	$3.52	0d	34	1.44mi
2714 N 74th Ct Unit 1W Elmwood Park, IL	2.0	1.0	850	$1,695	$1.99	19d	1	1.44mi
7901 W Grand Ave Unit 1S Elmwood Park, IL	1.0	1.0	700	$1,250	$1.79	4d	1	1.45mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$1,797	$1.90	5d	15	1.50mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: watergaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $90,000 Active 36 DOM
2. 2026-06-17
   days on market $90,000 Active 35 DOM
3. 2026-06-16
   days on market $90,000 Active 34 DOM
4. 2026-06-15
   days on market $90,000 Active 33 DOM
5. 2026-06-13
   days on market $90,000 Active 31 DOM
6. 2026-06-13
   pricedays on market $90,000 Active 30 DOM
7. 2026-06-09
   days on market $110,000 Active 27 DOM
8. 2026-06-08
   days on market $110,000 Active 26 DOM
9. 2026-06-07
   days on market $110,000 Active 25 DOM
10. 2026-06-04
    days on market $110,000 Active 22 DOM
11. 2026-06-03
    days on market $110,000 Active 21 DOM
12. 2026-06-02
    days on market $110,000 Active 20 DOM
13. 2026-06-01
    days on market $110,000 Active 19 DOM
14. 2026-05-31
    days on market $110,000 Active 18 DOM
15. 2026-05-13
    listed $110,000 Active 451-char remark
16. 2021-07-29
    soldstatus $98,000
17. 2021-07-22
    soldstatus $98,000 Closed 704-char remark

    Show marketing remark (704 chars)

    Bright and open 1-bedroom north viewing condo in Cameo Towers on the 7th floor. Lots of natural light with beautiful view of River Forest. Recently painted in neutral colors and professionally cleaned carpet. Comes with heated garage parking, laundry room and storage locker conveniently located on the same floor. Great location next to beautiful River Forest, Elmwood Park Restaurant Row and minutes from Oak Park downtown. Building has many amenities: pool, sundeck, huge party room. Check out Cameo Towers website for their photo gallery of the penthouse party room with gorgeous view, outdoor swimming pool with sundeck and common areas. Monthly assessment includes central heat, A/C, gas and water.

18. 2021-07-14
    status Active Under Contract 704-char remark

    Show marketing remark (704 chars)

    Bright and open 1-bedroom north viewing condo in Cameo Towers on the 7th floor. Lots of natural light with beautiful view of River Forest. Recently painted in neutral colors and professionally cleaned carpet. Comes with heated garage parking, laundry room and storage locker conveniently located on the same floor. Great location next to beautiful River Forest, Elmwood Park Restaurant Row and minutes from Oak Park downtown. Building has many amenities: pool, sundeck, huge party room. Check out Cameo Towers website for their photo gallery of the penthouse party room with gorgeous view, outdoor swimming pool with sundeck and common areas. Monthly assessment includes central heat, A/C, gas and water.

19. 2021-05-21
    status Contingent 704-char remark

    Show marketing remark (704 chars)

    Bright and open 1-bedroom north viewing condo in Cameo Towers on the 7th floor. Lots of natural light with beautiful view of River Forest. Recently painted in neutral colors and professionally cleaned carpet. Comes with heated garage parking, laundry room and storage locker conveniently located on the same floor. Great location next to beautiful River Forest, Elmwood Park Restaurant Row and minutes from Oak Park downtown. Building has many amenities: pool, sundeck, huge party room. Check out Cameo Towers website for their photo gallery of the penthouse party room with gorgeous view, outdoor swimming pool with sundeck and common areas. Monthly assessment includes central heat, A/C, gas and water.

20. 2021-05-14
    price $104,000 704-char remark

    Show marketing remark (704 chars)

    Bright and open 1-bedroom north viewing condo in Cameo Towers on the 7th floor. Lots of natural light with beautiful view of River Forest. Recently painted in neutral colors and professionally cleaned carpet. Comes with heated garage parking, laundry room and storage locker conveniently located on the same floor. Great location next to beautiful River Forest, Elmwood Park Restaurant Row and minutes from Oak Park downtown. Building has many amenities: pool, sundeck, huge party room. Check out Cameo Towers website for their photo gallery of the penthouse party room with gorgeous view, outdoor swimming pool with sundeck and common areas. Monthly assessment includes central heat, A/C, gas and water.

21. 2021-04-22
    listed $105,000 New 704-char remark

    Show marketing remark (704 chars)

    Bright and open 1-bedroom north viewing condo in Cameo Towers on the 7th floor. Lots of natural light with beautiful view of River Forest. Recently painted in neutral colors and professionally cleaned carpet. Comes with heated garage parking, laundry room and storage locker conveniently located on the same floor. Great location next to beautiful River Forest, Elmwood Park Restaurant Row and minutes from Oak Park downtown. Building has many amenities: pool, sundeck, huge party room. Check out Cameo Towers website for their photo gallery of the penthouse party room with gorgeous view, outdoor swimming pool with sundeck and common areas. Monthly assessment includes central heat, A/C, gas and water.

22. 2002-03-12
    soldstatus $111,500
23. 1998-11-01
    soldstatus $68,000
24. 1995-12-08
    soldstatus $70,000
25. 1992-07-08
    soldstatus $32,500
26. 1983-04-01
    soldstatus $31,550
27. 1983-03-28
    soldstatus $32,000

ⓘ 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: $2,912 · $243/mo
• Projected year-2 tax: $2,912 · $243/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,818
• − Mortgage interest: −$5,041
• − Property taxes: −$2,912
• − Insurance: −$450
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$4,440
• − Depreciation: −$2,618
• Taxable income: $1,185
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $1,905/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: Elmwood Park CUSD 401
• NCES district ID: 1714100
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 26% ▼ -14.00%
• Median HH income: $54,600
• Composite: 18.73/100
• National rank: #8879
• State rank: #403 of 620 in IL

Livability — Elmwood Park

• Score: 83/100
• State rank: #41
• US rank: #865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood Park, IL
• County: Cook County · 4,486,803 people
• City population: 41,116
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 41,116
• Household income: $84,799
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1195.0

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 0.61)
• Race & ethnicity: White 45% Hispanic / Latino 43% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 22% Puerto Rican 12% Cuban 1%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 1%
• Foreign-born: 25% · Canada, Jamaica, Dominican Republic
• Languages at home: 54% English-only · Spanish 29% Russian/Polish/Slavic 11% Other Indo-European 3%

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: ▼ -256.46%
• Current HPI: 222.8083
• Rent YoY: ▲ 7.21%
• 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

+181.2% since first listed

14 events — show timeline

• 2026-06-10 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2026-05-13 Listed $110,000 MRED as Distributed by MLS Grid
• 2021-07-29 Sold (Public Records) $98,000 Public Records
• 2021-07-22 Sold (MLS) $98,000 MRED as Distributed by MLS Grid
• 2021-07-14 Pending — MRED as Distributed by MLS Grid
• 2021-05-21 Pending — MRED as Distributed by MLS Grid
• 2021-05-14 Price Changed $104,000 MRED as Distributed by MLS Grid
• 2021-04-22 Listed $105,000 MRED as Distributed by MLS Grid
• 2002-03-12 Sold (Public Records) $111,500 Public Records
• 1998-11-01 Sold (Public Records) $68,000 Public Records
• 1995-12-08 Sold (Public Records) $70,000 Public Records
• 1992-07-08 Sold (Public Records) $32,500 Public Records
• 1983-04-01 Sold (Public Records) $31,550 Public Records
• 1983-03-28 Sold (Public Records) $32,000 Public Records

Property tax history

+6.8%/yr

Latest (2023): $2,912 · +3.1% YoY. Source: county tax records.