7505 175th St #122 · Tinley Park, IL 60477

$190,000

2 bd · 2.0 ba · 1,000 sqft · Condo · 17 Days on market

Built 1978 $297/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 +14.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFULLY UPDATED 2ND FLOOR CONDO WHERE EVERY ROOM IS OVERLOOKING AMAZING VIEWS OF THE POND, WATERFALLS AND NEW GAZEBO IN THE MUCH DESIRED WHISPERING COVE CONDOMINIUMS. LOCATED IN ANDREW SCHOOL DIST 230 AND FEATURING MASTER BEDROOM WITH PRIVATE BATH, WALK IN CLOSET AND LARGE 2ND BEDROOM WITH FULL BATHROOM OFF THE HALL. THIS UNIT WILL NOT DISAPPOINT! REMODELED IN 2019, THE KITCHEN IS COMPLETE WITH BEAUTIFUL CABINETS, GRANITE COUNTERS, SS APPLIANCES, BRAND NEW WOOD LAMINATE HARDWOOD FLOORING AND TRIM. BOTH BATHROOM VANITIES, FIXTURES AND FAUCETS ARE NEW. NEW ROOF IN 2017 (SELLER PD SPECIAL ASSESSMENTS) LARGE LAUNDRY ROOM IN UNIT. SIT ON THE BALCONY FOR A PEACEFUL DRINK AND ENJOY THE TRANQUIL VIEWS. BALCONY ALSO OFFERS A DOOR FOR EXTRA OUTDOOR STORAGE. FLEXICORE BUILDING, IT WONT LAST LONG. .. COME SEE YOUR FUTURE HOME TODAY.

Key facts

• Pond
• Amazing views
• New gazebo

Tags

• AMAZING VIEWS
• POND
• WATERFALLS
• NEW GAZEBO
• PRIVATE BATH
• WALK IN CLOSET

Property features AI

Finance

• Other: Building contains 12 units; Living area is estimated; Community access includes school bus service and commuter train; Subdivision: Whispering Cove
• HOA & community: Monthly association fee of $297; HOA covers water, parking, insurance, exterior maintenance, lawn care, scavenger, and snow removal; Manager off-site; Pets allowed (cats and dogs), large maximum pet weight accepted

Exterior

• Parking: 2 parking spaces total; Unassigned and off-street parking; guest parking and other parking available
• Utilities: Water source: Lake Michigan; Public sewer; Electric service with circuit breakers
• Home design: Attached single condo; 2nd floor unit (entry level listed as 2); Condo ownership; Not currently leased
• Construction: Brick construction; Concrete perimeter foundation; Built approximately 41–50 years ago; Not rebuilt or rehabbed since original construction
• Exterior features: Patio; Balcony; Wooded lot features; Lake and pond views / waterfront

Interior

• Kitchen: Galley kitchen on second level (15 x 9)
• Bedrooms: Master bedroom on main level (15 x 11) with carpet and full bath; Additional bedrooms (one 13 x 10 with carpet; two other bedrooms listed)
• Flooring: Carpet in bedrooms; Wood laminate in dining room, living room and laundry; Other flooring in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Flexicore construction; 5 total rooms; Intercom; CO detectors; Ceiling fan(s)
• Laundry & utility: In-unit laundry with washer hookup and gas dryer hookup (laundry room 8 x 5)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $40 ($485/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.3% in Tinley 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 74/100 on livability (#246 in IL, #4,453 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, health & safety F.
• Cons Hsd 230 (suburban): math 35% / reading 39% proficiency, ranked #146 of 620 in IL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 151 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 17 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $139k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $187,150 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-27,950
• Equity at exit: $28,330

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-19,953
• Equity at exit: $16,428

Cash invested: $53,200 (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 60477

• Active inventory: 151
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,188 high
• Mortgage (P&I): −$996
• Tax from tax record: −$316 /mo · $3,788/yr
• Insurance: −$79
• HOA: −$297
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $40

Break-even live

Break-even rent $2,137

Max offer price $190,000

Occupancy floor 93%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17545 71st Ave Tinley Park, IL	3.0	1.5	1144	$1,800	$1.57	2d	1	0.43mi
17537 70th Ct Tinley Park, IL	3.0	1.5	1170	$3,000	$2.56	1d	1	0.49mi
17385 70th Ave Apt I Tinley Park, IL	2.0	1.0	900	$1,350	$1.50	16d	1	0.56mi
17212 Oak Park Ave Unit 2SE Tinley Park, IL	2.0	2.0	1200	$2,600	$2.17	10d	1	0.87mi
16851 Harlem Ave Tinley Park, IL	1.0–2.0	1.0–2.0	857	$3,065	$3.58	1d	24	0.89mi
7050 183rd St #411 Tinley Park, IL	2.0	2.0	1500	$2,600	$1.73	1d	1	1.01mi
6661 Glenview Dr Tinley Park, IL	3.0	2.0	1125	$3,200	$2.84	1d	1	1.15mi

HOA detail condo

• Monthly dues: $297 · $3,564/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-13
   statusdays on market $190,000 Pending 17 DOM
2. 2026-06-09
   days on market $190,000 Contingent - No Showings 16 DOM
3. 2026-06-08
   days on market $190,000 Contingent - No Showings 15 DOM
4. 2026-06-07
   days on market $190,000 Contingent - No Showings 14 DOM
5. 2026-06-04
   days on market $190,000 Contingent - No Showings 11 DOM
6. 2026-06-03
   days on market $190,000 Contingent - No Showings 10 DOM
7. 2026-06-02
   days on market $190,000 Contingent - No Showings 9 DOM
8. 2026-06-02
   status $190,000 Contingent - No Showings 8 DOM
9. 2026-06-01
   days on market $190,000 Active 8 DOM
10. 2026-05-31
    days on market $190,000 Active 7 DOM
11. 2026-05-24
    listed $190,000 Active
12. 2026-05-20
    historical Contingent - No Showings
13. 2026-05-19
    historical
14. 2026-05-14
    price
15. 2026-05-01
    listed Active
16. 2024-02-18
    historical $1,600
17. 2024-02-08
    listed $1,600
18. 2020-11-12
    soldstatus $139,000
19. 2020-09-29
    soldstatus $138,800 Closed Sale 837-char remark

    Show marketing remark (837 chars)

    BEAUTIFULLY UPDATED 2ND FLOOR CONDO WHERE EVERY ROOM IS OVERLOOKING AMAZING VIEWS OF THE POND, WATERFALLS AND NEW GAZEBO IN THE MUCH DESIRED WHISPERING COVE CONDOMINIUMS. LOCATED IN ANDREW SCHOOL DIST 230 AND FEATURING MASTER BEDROOM WITH PRIVATE BATH, WALK IN CLOSET AND LARGE 2ND BEDROOM WITH FULL BATHROOM OFF THE HALL. THIS UNIT WILL NOT DISAPPOINT! REMODELED IN 2019, THE KITCHEN IS COMPLETE WITH BEAUTIFUL CABINETS, GRANITE COUNTERS, SS APPLIANCES, BRAND NEW WOOD LAMINATE HARDWOOD FLOORING AND TRIM. BOTH BATHROOM VANITIES, FIXTURES AND FAUCETS ARE NEW. NEW ROOF IN 2017 (SELLER PD SPECIAL ASSESSMENTS) LARGE LAUNDRY ROOM IN UNIT. SIT ON THE BALCONY FOR A PEACEFUL DRINK AND ENJOY THE TRANQUIL VIEWS. BALCONY ALSO OFFERS A DOOR FOR EXTRA OUTDOOR STORAGE. FLEXICORE BUILDING, IT WONT LAST LONG. .. COME SEE YOUR FUTURE HOME TODAY.

20. 2020-08-18
    status Contingent (Do Not Show) 837-char remark

    Show marketing remark (837 chars)

    BEAUTIFULLY UPDATED 2ND FLOOR CONDO WHERE EVERY ROOM IS OVERLOOKING AMAZING VIEWS OF THE POND, WATERFALLS AND NEW GAZEBO IN THE MUCH DESIRED WHISPERING COVE CONDOMINIUMS. LOCATED IN ANDREW SCHOOL DIST 230 AND FEATURING MASTER BEDROOM WITH PRIVATE BATH, WALK IN CLOSET AND LARGE 2ND BEDROOM WITH FULL BATHROOM OFF THE HALL. THIS UNIT WILL NOT DISAPPOINT! REMODELED IN 2019, THE KITCHEN IS COMPLETE WITH BEAUTIFUL CABINETS, GRANITE COUNTERS, SS APPLIANCES, BRAND NEW WOOD LAMINATE HARDWOOD FLOORING AND TRIM. BOTH BATHROOM VANITIES, FIXTURES AND FAUCETS ARE NEW. NEW ROOF IN 2017 (SELLER PD SPECIAL ASSESSMENTS) LARGE LAUNDRY ROOM IN UNIT. SIT ON THE BALCONY FOR A PEACEFUL DRINK AND ENJOY THE TRANQUIL VIEWS. BALCONY ALSO OFFERS A DOOR FOR EXTRA OUTDOOR STORAGE. FLEXICORE BUILDING, IT WONT LAST LONG. .. COME SEE YOUR FUTURE HOME TODAY.

21. 2020-08-11
    listed $135,700 New 837-char remark

    Show marketing remark (837 chars)

    BEAUTIFULLY UPDATED 2ND FLOOR CONDO WHERE EVERY ROOM IS OVERLOOKING AMAZING VIEWS OF THE POND, WATERFALLS AND NEW GAZEBO IN THE MUCH DESIRED WHISPERING COVE CONDOMINIUMS. LOCATED IN ANDREW SCHOOL DIST 230 AND FEATURING MASTER BEDROOM WITH PRIVATE BATH, WALK IN CLOSET AND LARGE 2ND BEDROOM WITH FULL BATHROOM OFF THE HALL. THIS UNIT WILL NOT DISAPPOINT! REMODELED IN 2019, THE KITCHEN IS COMPLETE WITH BEAUTIFUL CABINETS, GRANITE COUNTERS, SS APPLIANCES, BRAND NEW WOOD LAMINATE HARDWOOD FLOORING AND TRIM. BOTH BATHROOM VANITIES, FIXTURES AND FAUCETS ARE NEW. NEW ROOF IN 2017 (SELLER PD SPECIAL ASSESSMENTS) LARGE LAUNDRY ROOM IN UNIT. SIT ON THE BALCONY FOR A PEACEFUL DRINK AND ENJOY THE TRANQUIL VIEWS. BALCONY ALSO OFFERS A DOOR FOR EXTRA OUTDOOR STORAGE. FLEXICORE BUILDING, IT WONT LAST LONG. .. COME SEE YOUR FUTURE HOME TODAY.

22. 2007-11-30
    soldstatus $137,000
23. 2007-10-23
    historical
24. 2007-08-02
    listed $149,900
25. 1993-12-21
    soldstatus $74,500
26. 1993-12-21
    soldstatus $74,500
27. 1991-01-11
    soldstatus $57,000

ⓘ 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: $3,788 · $316/mo
• Projected year-2 tax: $4,050 · $338/mo
• Expected delta: +$263/yr (+$22/mo · 6.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,258
• − Mortgage interest: −$10,643
• − Property taxes: −$3,788
• − Insurance: −$950
• − Repairs & maintenance: −$2,101
• − Management: −$2,101
• − HOA: −$3,564
• − Depreciation: −$5,527
• Taxable loss: −$2,416
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $1,065/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: Cons Hsd 230
• NCES district ID: 1708400
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $73,953
• Composite: 34.29/100
• National rank: #5244
• State rank: #146 of 620 in IL

Livability — Tinley Park

• Score: 74/100
• State rank: #246
• US rank: #4453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tinley Park, IL
• County: Cook County · 4,486,803 people
• City population: 35,976
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 35,976
• Household income: $94,927
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 753.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 9% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Romanian 14% Iranian 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 85% English-only · Spanish 6% Arabic 5% Other Indo-European 1%

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: ▼ -272.64%
• Current HPI: 190.7548
• Rent YoY: —
• 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

+233.3% since first listed

17 events — show timeline

• 2026-05-24 Listed $190,000 MRED as Distributed by MLS Grid
• 2026-05-20 Contingent — MRED as Distributed by MLS Grid
• 2026-05-19 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-14 Price Changed — MRED as Distributed by MLS Grid
• 2026-05-01 Listed — MRED as Distributed by MLS Grid
• 2024-02-18 Rental Removed $1,600 MRED
• 2024-02-08 Listed for Rent $1,600 MRED
• 2020-11-12 Sold (Public Records) $139,000 Public Records
• 2020-09-29 Sold (MLS) $138,800 MRED as Distributed by MLS Grid
• 2020-08-18 Pending — MRED as Distributed by MLS Grid
• 2020-08-11 Listed $135,700 MRED as Distributed by MLS Grid
• 2007-11-30 Sold (MLS) $137,000 MRED as Distributed by MLS Grid
• 2007-10-23 Listing Removed — MRED as Distributed by MLS Grid
• 2007-08-02 Listed $149,900 MRED as Distributed by MLS Grid
• 1993-12-21 Sold (Public Records) $74,500 Public Records
• 1993-12-21 Sold (Public Records) $74,500 Public Records
• 1991-01-11 Sold (Public Records) $57,000 Public Records

Property tax history

+2.1%/yr

Latest (2023): $3,788 · +8.4% YoY. Source: county tax records.