122 Circle Ave #307 · Forest Park, IL 60130

$165,000

2 bd · 1.5 ba · 900 sqft · Condo · 28 Days on market

Built 1975 $250/mo HOA · 14% 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 +13.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +4.3/5.0
• DSCR +4.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious two bedroom, one full bath and one half bath condo in a fantastic Forest Park location. It's close to both downtown Forest Park and downtown Oak Park. The unit features brand new carpet and paint, a functional layout, and a separate dining area. Enjoy generous in-unit storage, plus an additional storage locker and bike room in the building. Laundry is conveniently located on-site, and one parking spot is included in the price. With the Metra and Green Line just a short walk away, this is an ideal spot for commuters and anyone looking to enjoy nearby shops, restaurants, and parks.

Key facts

• In-unit storage
• One parking spot
• Bike room

Tags

• FOREST PARK LOCATION
• IN-UNIT STORAGE
• ADDITIONAL STORAGE LOCKER
• BIKE ROOM
• LAUNDRY ON-SITE
• ONE PARKING SPOT

Property features AI

Finance

• Other: Nine-unit building; Ownership: condo; Not currently leased; Estimated living area; Directions: Harlem to Madison St, North on Circle to 122
• HOA & community: Monthly association fee of $250; Association fee includes water, parking, insurance and scavenger service; Association-managed coin laundry; Self-managed community; Pets allowed (cats and dogs); large maximum pet weight allowed

Exterior

• Parking: One parking space
• Utilities: Water from Lake Michigan and public supply; Public sewer
• Home design: Attached single condo; Entry level: 3
• Construction: Brick construction; Built approximately 51–60 years ago; Built before 1978
• Exterior features: Common lot/grounds

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen on main level (12 x 9)
• Bedrooms: Master bedroom on main level (16 x 11) with half bath; Second bedroom on main level (13 x 10); Two additional bedrooms
• Flooring: Carpet in living room, dining room, master bedroom and bedroom 2
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Electric heating; Wall cooling unit(s)
• Interior features: Five total rooms; Some photos are virtually staged
• Laundry & utility: Laundry room; Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $18 ($211/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.1% in Forest 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 86/100 on livability (#20 in IL, #405 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Garfield Elem School (196 students, 0% FRL); Forest Park Middle School (math 2% / reading 17%, grade F, #592 of 665 statewide, top 90%, 160 students, 0% FRL); Proviso West High School (math 6% / reading 11%, grade F, #584 of 693 statewide, top 85%, 1,868 students, 0% FRL).
• Market conditions: Rents rising (+2.8%/yr); 46 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $165k implies a 136% gain — meaningful room to come down on a strong offer.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.76% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-25,874
• Equity at exit: $24,602

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-22,139
• Equity at exit: $14,266

Cash invested: $46,200 (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 60130

• Rents YoY: 2.8%
• Active inventory: 46
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,753 high
• Mortgage (P&I): −$865
• Tax from tax record: −$183 /mo · $2,199/yr
• Insurance: −$69
• HOA: −$250
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $18

Break-even live

Break-even rent $1,731

Max offer price $165,000

Occupancy floor 94%

Sensitivity live

Price	-10% $111	-5% $64	+0% $18	+5% $-29	+10% $-76
Rent	-10% $-121	-5% $-52	+0% $18	+5% $87	+10% $156
Rate	-1.0pp $101	-0.5pp $60	base $18	+0.5pp $-25	+1.0pp $-69

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7232 Randolph St Unit 401 Forest Park, IL	1.0	1.0	645	$1,400	$2.17	1d	1	0.15mi
7232 Randolph St Unit 101 Forest Park, IL	1.0	1.0	645	$1,200	$1.86	4d	1	0.15mi
111 Des Plaines Ave Unit B Forest Park, IL	3.0	1.0	1100	$1,900	$1.73	26d	1	0.18mi
111 Des Plaines Ave Unit G Forest Park, IL	2.0	1.0	900	$1,400	$1.56	26d	1	0.18mi
7443 Washington St #603 Forest Park, IL	1.0	1.0	700	$1,400	$2.00	4d	1	0.19mi
7432 Washington St Forest Park, IL	1.0–2.0	1.0–1.5	924	$2,000	$2.16	16d	3	0.21mi
300 Des Plaines Ave Forest Park, IL	1.0	1.0	700	$1,300	$1.86	9d	1	0.26mi
1133 South Blvd Oak Park, IL	3.0	1.0–2.0	1008	$4,917	$4.88	0d	10	0.29mi
1105 Pleasant St Oak Park, IL	3.0	1.0–2.0	1410	$5,400	$3.83	0d	8	0.33mi
314 Lathrop Ave #404 Forest Park, IL	1.0	1.0	675	$1,500	$2.22	26d	1	0.35mi
7522 Madison St Forest Park, IL	2.0	1.0	958	$2,695	$2.81	26d	1	0.38mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$5,614	$5.94	7d	15	0.55mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$4,631	$4.98	0d	32	0.55mi
520 Des Plaines Ave Forest Park, IL	1.0–2.0	1.0–2.0	1050	$1,999	$1.90	26d	1	0.57mi
616 Circle Ave Unit 1 Forest Park, IL	2.0	1.0	1100	$2,350	$2.14	4d	1	0.61mi
616 Circle Ave Forest Park, IL	2.0	1.0	1100	$2,350	$2.14	26d	1	0.61mi
7745 Adams St Unit 3E Forest Park, IL	1.0	1.0	850	$1,395	$1.64	9d	1	0.66mi
616 Lathrop Ave Forest Park, IL	2.0	1.0	1000	$1,695	$1.70	26d	1	0.67mi
703 Madison St Unit 526 Oak Park, IL	1.0	1.0	543	$5,500	$10.13	4d	1	0.91mi
846 Circle Ave #1 Forest Park, IL	2.0	1.0	1100	$2,000	$1.82	13d	1	0.93mi
837 Lathrop Ave Unit GW Forest Park, IL	1.0	1.0	790	$1,480	$1.87	19d	1	0.95mi
839 Dunlop Ave Unit 1244957P Forest Park, IL	1.0	1.0	699	$3,861	$5.52	22d	1	0.98mi
839 Dunlop Ave Unit 1296499P Forest Park, IL	1.0	1.0	699	$3,590	$5.14	8d	1	0.98mi
1030 Dunlop Ave Unit 2W Forest Park, IL	2.0	1.0	990	$1,695	$1.71	26d	1	1.19mi
1030 Dunlop Ave Unit 2C Forest Park, IL	2.0	1.0	990	$1,695	$1.71	5d	1	1.19mi
1114 Beloit Ave Forest Park, IL	2.0	1.0	1072	$2,800	$2.61	14d	1	1.24mi
1124 Hannah Ave Unit 1F Forest Park, IL	1.0	1.0	617	$1,500	$2.43	6d	1	1.25mi
1140 Lathrop Ave Unit 208 Forest Park, IL	1.0	1.0	700	$1,345	$1.92	26d	1	1.33mi
7234 Roosevelt Rd Forest Park, IL	2.0	1.0	850	$1,895	$2.23	20d	1	1.34mi
1128 Des Plaines Ave Forest Park, IL	1.0	1.0	700	$1,500	$2.14	26d	1	1.38mi
1227 S Harlem Ave #215 Berwyn, IL	1.0	1.0	700	$1,545	$2.21	7d	1	1.41mi
1031 S Dunlop Unit 1-w Forest Park, IL	2.0	1.0	950	$1,695	$1.78	26d	1	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-13
   statusdays on market $165,000 Pending 28 DOM
2. 2026-06-09
   days on market $165,000 Contingent - No Showings 27 DOM
3. 2026-06-08
   days on market $165,000 Contingent - No Showings 26 DOM
4. 2026-06-07
   days on market $165,000 Contingent - No Showings 25 DOM
5. 2026-06-04
   days on market $165,000 Contingent - No Showings 22 DOM
6. 2026-06-03
   days on market $165,000 Contingent - No Showings 21 DOM
7. 2026-06-02
   days on market $165,000 Contingent - No Showings 20 DOM
8. 2026-06-01
   days on market $165,000 Contingent - No Showings 19 DOM
9. 2026-05-31
   days on market $165,000 Contingent - No Showings 18 DOM
10. 2026-05-17
    historical Contingent - No Showings
11. 2026-05-12
    listed $165,000 Active
12. 1992-05-12
    soldstatus $70,000
13. 1988-11-02
    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: $2,199 · $183/mo
• Projected year-2 tax: $2,972 · $248/mo
• Expected delta: +$773/yr (+$64/mo · 35.1%)

ⓘ 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 100% 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: $21,036
• − Mortgage interest: −$9,243
• − Property taxes: −$2,199
• − Insurance: −$825
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − HOA: −$3,000
• − Depreciation: −$4,800
• Taxable loss: −$2,396
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $786/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: Proviso Twp Hsd 209
• NCES district ID: 1732910
• Math proficiency: 12% ▼ -4.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $51,744
• Composite: 13.5/100
• National rank: #9518
• State rank: #507 of 620 in IL

Livability — Forest Park

• Score: 86/100
• State rank: #20
• US rank: #405

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Park, IL
• County: Cook County · 4,486,803 people
• City population: 13,943
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 13,943
• Household income: $77,221
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 650.0

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 0.64)
• Race & ethnicity: White 53% Black 25% Hispanic / Latino 11% Two or more races 7% Asian 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Serbian 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 8% Other Asian/Pacific 2% Arabic 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: ▼ -192.60%
• Current HPI: 292.8802
• Rent YoY: ▲ 2.76%
• 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

+161.9% since first listed

4 events — show timeline

• 2026-05-17 Contingent — MRED as Distributed by MLS Grid
• 2026-05-12 Listed $165,000 MRED as Distributed by MLS Grid
• 1992-05-12 Sold (Public Records) $70,000 Public Records
• 1988-11-02 Sold (Public Records) $63,000 Public Records

Property tax history

+0.4%/yr

Latest (2023): $2,199 · +126.2% YoY. Source: county tax records.