124 Boardwalk St Unit GE · Elk Grove Village, IL 60007

$197,800

2 bd · 1.0 ba · 1,100 sqft · Condo · 34 Days on market

Built 1978 $378/mo HOA · 18% 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 +12.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ground-floor 2-bedroom, 1 bath condo offering easy access and comfortable single-level living in a well-maintained community. This bright and inviting unit features an open living and dining area with fresh paint and updated flooring throughout. The remodeled kitchen includes quartz countertops, and stainless-steel appliances. Both bedrooms provide generous closet space, while the updated bathrooms feature clean, contemporary finishes. Enjoy the convenience of direct walk-out access to green space, perfect for added privacy and outdoor enjoyment. Community amenities include a swimming pool, landscaped grounds, and ample parking with one assigned space plus additional guest parking. Ideally

Key facts

• Quartz countertops
• Remodeled kitchen
• Updated bathrooms

Tags

• GROUND-FLOOR CONDO
• SINGLE-LEVEL LIVING
• REMODELED KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS-STEEL APPLIANCES
• UPDATED BATHROOMS

Property features AI

Finance

• Other: Building contains six units; Living area is estimated; Property offers school bus service, commuter bus access, and nearby interstate access; Subdivision: Boardwalk
• HOA & community: Monthly association fee of $378; Association fee includes heat, water, gas, parking, insurance, pool, exterior maintenance, lawn care, refuse collection, and snow removal; On-site coin laundry and community pool; Manager off-site; Pets allowed (cats and dogs), max pet weight 30 lbs

Exterior

• Parking: One parking space; Asphalt surface; assigned and owned parking with some unassigned spaces
• Utilities: Public water; Storm sewer; Electric with circuit breakers
• Home design: Attached single condo; Rehab completed in 2026
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Approximately 41-50 years old
• Exterior features: Common grounds

Interior

• Kitchen: Microwave; Range; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level (12 x 14); Second bedroom on main level (12 x 12); Two additional bedrooms
• Flooring: Vinyl flooring throughout main living areas
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Steam and baseboard heating; Window air conditioning unit(s)
• Interior features: Five rooms total; Blinds on windows; CO detectors; Ceiling fan(s)
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $198k.

Deal economics

• At list price, monthly cash flow is $-39 ($-472/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (3.5% below list).
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $191k (3.5% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 3.5% in Elk Grove Village — 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 77/100 on livability (#160 in IL, #2,985 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, health & safety F.
• Township Hsd 214 (suburban): math 42% / reading 45% proficiency, ranked #103 of 620 in IL (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Salt Creek Elem School (math 12% / reading 12%, grade F, #1,403 of 2,056 statewide, top 71%, 404 students, 0% FRL); Grove Jr High School (math 10% / reading 19%, grade F, #517 of 665 statewide, top 79%, 791 students, 0% FRL); Elk Grove High School (math 30% / reading 34%, grade F, #157 of 693 statewide, top 25%, 2,000 students, 0% FRL).
• Zoned-school proficiency averages 20% at this address vs 44% district-wide (-24 pts) — the specific schools serving this property underperform the Township Hsd 214 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 49 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $63k; list at $198k implies a 214% gain — meaningful room to come down on a strong offer.

Recommended offer $190,845 (3.5% 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 34 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.04% ✓
• Cap rate: 6.05%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.08% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.27×
• Total profit: $-40,225
• Equity at exit: $29,493

10-year hold

• IRR: -27.5%
• Equity multiple: -0.09×
• Total profit: $-60,144
• Equity at exit: $17,102

Cash invested: $55,384 (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 60007

• Rents YoY: 0.1%
• Active inventory: 49
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,060 high
• Mortgage (P&I): −$1,037
• Tax from tax record: −$169 /mo · $2,029/yr
• Insurance: −$82
• HOA: −$378
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-39

Break-even live

Break-even rent $2,110

Max offer price $190,845

Occupancy floor 97%

Sensitivity live

Price	-10% $73	-5% $17	+0% $-39	+5% $-95	+10% $-151
Rent	-10% $-202	-5% $-121	+0% $-39	+5% $42	+10% $123
Rate	-1.0pp $60	-0.5pp $11	base $-39	+0.5pp $-91	+1.0pp $-143

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: $49,450
• Closing costs: $5,934
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Boardwalk St Unit 2E Elk Grove Village, IL	2.0	1.5	1000	$1,850	$1.85	0d	1	0.06mi
46 Avon Rd Elk Grove Village, IL	3.0	2.0	1485	$2,900	$1.95	0d	1	0.37mi
209 Washington Sq Unit C Elk Grove Village, IL	2.0	1.0	865	$1,950	$2.25	0d	1	0.80mi
975 Jefferson Sq Elk Grove Village, IL	1.0–2.0	1.0–2.0	797	$2,077	$2.61	0d	13	0.84mi
230 Washington Sq Unit D Elk Grove Village, IL	2.0	1.0	1000	$1,650	$1.65	0d	1	0.88mi
908 Ridge Sq Elk Grove Village, IL	1.0–2.0	1.0–2.0	850	$2,119	$2.49	0d	29	0.88mi
991 Charlela Ln Elk Grove Village, IL	1.0–2.0	1.0–2.0	732	$1,998	$2.73	1d	6	1.18mi
1031 Charlela Ln Elk Grove Village, IL	1.0–2.0	1.0–1.5	850	$1,864	$2.19	1d	32	1.18mi
384 Bianco Dr Elk Grove Village, IL	3.0	2.0	1435	$3,200	$2.23	16d	1	1.20mi
1133 N Arlington Heights Rd Itasca, IL	1.0–3.0	1.0–2.0	1067	$3,024	$2.83	26d	18	1.40mi
1133 N Arlington Heights Rd Itasca, IL	3.0	1.0–2.0	976	$3,186	$3.26	0d	29	1.40mi
1123 Cedar Ln Elk Grove Village, IL	3.0	1.0	1050	$2,750	$2.62	21d	1	1.44mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-21
   days on market $197,800 Active 34 DOM
2. 2026-06-18
   days on market $197,800 Active 31 DOM
3. 2026-06-17
   days on market $197,800 Active 30 DOM
4. 2026-06-16
   days on market $197,800 Active 29 DOM
5. 2026-06-15
   days on market $197,800 Active 28 DOM
6. 2026-06-13
   pricedays on market $197,800 Active 26 DOM
7. 2026-06-10
   days on market $204,999 Active 23 DOM
8. 2026-06-09
   days on market $204,999 Active 22 DOM
9. 2026-06-08
   days on market $204,999 Active 21 DOM
10. 2026-06-07
    days on market $204,999 Active 20 DOM
11. 2026-06-04
    days on market $204,999 Active 17 DOM
12. 2026-06-03
    days on market $204,999 Active 16 DOM
13. 2026-06-02
    days on market $204,999 Active 15 DOM
14. 2026-06-01
    days on market $204,999 Active 14 DOM
15. 2026-05-31
    days on market $204,999 Active 13 DOM
16. 2015-03-18
    soldstatus $63,000

ⓘ 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: $2,029 · $169/mo
• Projected year-2 tax: $3,260 · $272/mo
• Expected delta: +$1,230/yr (+$103/mo · 60.6%)

ⓘ 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 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,720
• − Mortgage interest: −$11,080
• − Property taxes: −$2,029
• − Insurance: −$989
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − HOA: −$4,536
• − Depreciation: −$5,754
• Taxable loss: −$3,623
• Est. tax savings @ 24.0%: +$870
• After-tax cash flow: $397/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: Township Hsd 214
• NCES district ID: 1704170
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $68,267
• Composite: 39.13/100
• National rank: #4035
• State rank: #103 of 620 in IL

Livability — Elk Grove Village

• Score: 77/100
• State rank: #160
• US rank: #2985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk Grove Village, IL
• County: Cook County · 4,486,803 people
• City population: 32,592
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,592
• Household income: $93,494
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 851.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Asian 12% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 17% Italian 1% French 1%
• Foreign-born: 21% · Canada, South Korea, China
• Languages at home: 67% English-only · Spanish 10% Russian/Polish/Slavic 9% Other Indo-European 5%

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: ▼ -285.01%
• Current HPI: 221.9664
• Rent YoY: ▲ 0.08%
• 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

1 event — show timeline

• 2015-03-18 Sold (Public Records) $63,000 Public Records

Property tax history

+0.4%/yr

Latest (2023): $2,029 · +3.9% YoY. Source: county tax records.