4905 W 109th St #202 · Oak Lawn, IL 60453

$119,900

2 bd · 1.0 ba · 950 sqft · Condo · 223 Days on market

Built 1974 $126/sqft · 21% below area Est $153k · 21% under $292/mo HOA · 17% of rent

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Why this score? — see what drove the C+ 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 +18.8/30.0
• ARV discount +15.0/15.0
• 1% rule +9.0/10.0
• DSCR +5.9/10.0
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic short sale opportunity on a 2 bed/1 bath condo with assigned 1 car parking. Secured building. Move-in condition. Subject to bank approval.

Key facts

• $292 HOA
• Parking
• Built 1974

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.4% in Oak Lawn — 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 80/100 on livability (#102 in IL, #1,614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A-.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.2%/yr); 188 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.40% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 5.9

CMA / ARV

• ARV (median comp): $152,592
• List price: $119,900
• Delta: -21.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.92×
• Total profit: $-2,529
• Equity at exit: $17,877

10-year hold

• IRR: 14.0%
• Equity multiple: 2.47×
• Total profit: $49,331
• Equity at exit: $10,367

Cash invested: $33,572 (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 60453

• Rents YoY: 8.2%
• Active inventory: 188
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$629
• Tax from tax record: −$238 /mo · $2,862/yr
• Insurance: −$50
• HOA: −$292
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $121

Break-even live

Break-even rent $1,531

Max offer price $119,900

Occupancy floor 88%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4925 W 109th St Unit 102 Oak Lawn, IL	2.0	1.0	900	$1,600	$1.78	2d	1	0.05mi
10831 S Keating Ave Oak Lawn, IL	2.0	1.0	1000	$1,650	$1.65	2d	1	0.26mi
10701 S Keating Ave Unit 3D Oak Lawn, IL	2.0	1.0	800	$1,700	$2.12	1d	1	0.36mi
10435 S Keating Ave Apt 3N Oak Lawn, IL	2.0	1.0	1080	$1,650	$1.53	1d	1	0.62mi
10541 Parkside Ave Unit 2W Chicago Ridge, IL	2.0	2.0	1000	$1,700	$1.70	10d	1	1.00mi
5644 105th St Unit 2W Oak Lawn, IL	2.0	1.0	1100	$1,750	$1.59	24d	1	1.14mi
4209 W 115th St Bldg 123-C Alsip, IL	2.0	1.0	865	$1,710	$1.98	1d	1	1.15mi
9955 S Cicero Ave Oak Lawn, IL	2.0	1.0	1000	$1,799	$1.80	1d	1	1.21mi
9957 S Cicero Ave Unit 308 Oak Lawn, IL	2.0	1.0	1000	$1,799	$1.80	1d	1	1.21mi
10435 Menard Ave Oak Lawn, IL	1.0	1.0	750	$1,475	$1.97	16d	1	1.23mi
10435 Menard Ave Oak Lawn, IL	2.0	2.0	1050	$1,850	$1.76	24d	1	1.23mi
10435 Menard Ave Oak Lawn, IL	2.0	1.0	850	$1,750	$2.06	1d	1	1.23mi
10408 Menard Ave Unit 2B Oak Lawn, IL	1.0	1.0	800	$1,495	$1.87	12d	1	1.29mi
11720 S Kedvale Ave Alsip, IL	3.0	1.0	1100	$2,200	$2.00	19d	1	1.40mi
10326 Mayfield Ave Apt 2S Oak Lawn, IL	2.0	1.0	850	$1,650	$1.94	18d	1	1.45mi
10326 Mayfield Ave Oak Lawn, IL	2.0	1.0	850	$1,650	$1.94	17d	1	1.45mi
6005 Marshall Ave #8 Chicago Ridge, IL	2.0	1.0	1000	$1,700	$1.70	4d	1	1.50mi

HOA detail condo

• Monthly dues: $292 · $3,504/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $119,900 Active 223 DOM
2. 2026-06-17
   statusdays on market $119,900 Active 222 DOM
3. 2026-06-16
   days on market $119,900 Contingent - No Showings 221 DOM
4. 2026-06-15
   days on market $119,900 Contingent - No Showings 220 DOM
5. 2026-06-13
   remarks 163-char remark
6. 2026-06-13
   days on market $119,900 Contingent - No Showings 218 DOM
7. 2026-06-09
   days on market $119,900 Contingent - No Showings 214 DOM
8. 2026-06-08
   days on market $119,900 Contingent - No Showings 213 DOM
9. 2026-06-07
   days on market $119,900 Contingent - No Showings 212 DOM
10. 2026-06-04
    days on market $119,900 Contingent - No Showings 209 DOM
11. 2026-06-03
    days on market $119,900 Contingent - No Showings 208 DOM
12. 2026-06-02
    days on market $119,900 Contingent - No Showings 207 DOM
13. 2026-06-01
    days on market $119,900 Contingent - No Showings 206 DOM
14. 2026-05-31
    days on market $119,900 Contingent - No Showings 205 DOM
15. 2026-05-20
    historical Contingent - No Showings 148-char remark

    Show marketing remark (148 chars)

    Fantastic short sale opportunity on a 2 bed/1 bath condo with assigned 1 car parking. Secured building. Move-in condition. Subject to bank approval.

16. 2026-05-05
    status Active 148-char remark

    Show marketing remark (148 chars)

    Fantastic short sale opportunity on a 2 bed/1 bath condo with assigned 1 car parking. Secured building. Move-in condition. Subject to bank approval.

17. 2025-11-11
    historical Contingent - No Showings 148-char remark

    Show marketing remark (148 chars)

    Fantastic short sale opportunity on a 2 bed/1 bath condo with assigned 1 car parking. Secured building. Move-in condition. Subject to bank approval.

18. 2025-11-07
    listed $119,900 Active 148-char remark

    Show marketing remark (148 chars)

    Fantastic short sale opportunity on a 2 bed/1 bath condo with assigned 1 car parking. Secured building. Move-in condition. Subject to bank approval.

19. 2024-03-12
    soldstatus $150,000
20. 2024-03-05
    soldstatus $150,000 Closed 811-char remark

    Show marketing remark (811 chars)

    Gorgeous 2 bedroom 1 bath Oak Lawn second floor condo features white trim/doors, neutral paint, new carpeting, a spacious living room with west facing balcony access, formal dining area, modern kitchen with new quartz counter-tops, stainless steel appliances, faucet, sink, oven/range with built in air fryer and stovetop griddle. Spacious master bedroom and second good sized bedroom with two closets, updated full bathroom new vanity, mirror, light fixture, faucet and shower head. Newer: kitchen/bath upgrades, carpet, paint (2023) and furnace (10 years). Main level coin laundry and storage unit! The assessment is $255 per month and includes water. Assigned parking space #138 and guest parking. Fantastic location near Wolfe Wildlife park, Mariano's, restaurants, shopping and convenient access to I-294!

21. 2023-12-31
    historical Contingent - Continue to Show 811-char remark

    Show marketing remark (811 chars)

    Gorgeous 2 bedroom 1 bath Oak Lawn second floor condo features white trim/doors, neutral paint, new carpeting, a spacious living room with west facing balcony access, formal dining area, modern kitchen with new quartz counter-tops, stainless steel appliances, faucet, sink, oven/range with built in air fryer and stovetop griddle. Spacious master bedroom and second good sized bedroom with two closets, updated full bathroom new vanity, mirror, light fixture, faucet and shower head. Newer: kitchen/bath upgrades, carpet, paint (2023) and furnace (10 years). Main level coin laundry and storage unit! The assessment is $255 per month and includes water. Assigned parking space #138 and guest parking. Fantastic location near Wolfe Wildlife park, Mariano's, restaurants, shopping and convenient access to I-294!

22. 2023-12-22
    listed $149,900 Active 811-char remark

    Show marketing remark (811 chars)

    Gorgeous 2 bedroom 1 bath Oak Lawn second floor condo features white trim/doors, neutral paint, new carpeting, a spacious living room with west facing balcony access, formal dining area, modern kitchen with new quartz counter-tops, stainless steel appliances, faucet, sink, oven/range with built in air fryer and stovetop griddle. Spacious master bedroom and second good sized bedroom with two closets, updated full bathroom new vanity, mirror, light fixture, faucet and shower head. Newer: kitchen/bath upgrades, carpet, paint (2023) and furnace (10 years). Main level coin laundry and storage unit! The assessment is $255 per month and includes water. Assigned parking space #138 and guest parking. Fantastic location near Wolfe Wildlife park, Mariano's, restaurants, shopping and convenient access to I-294!

23. 1983-08-09
    soldstatus $38,500

ⓘ 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: $2,862 · $238/mo
• Projected year-2 tax: $2,862 · $238/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 1/10 Low FEMA zone X · 0% 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,213
• − Mortgage interest: −$6,716
• − Property taxes: −$2,862
• − Insurance: −$600
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − HOA: −$3,504
• − Depreciation: −$3,488
• Taxable loss: −$190
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $1,504/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 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Oak Lawn

• Score: 80/100
• State rank: #102
• US rank: #1614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Lawn, IL
• County: Cook County · 4,486,803 people
• City population: 56,861
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 56,861
• Household income: $83,911
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 827.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 16% Iranian 1% Armenian 1%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 17% Russian/Polish/Slavic 5% Arabic 4%

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: ▼ -259.83%
• Current HPI: 214.6977
• Rent YoY: ▲ 8.23%
• 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

+211.4% since first listed

9 events — show timeline

• 2026-05-20 Contingent — MRED as Distributed by MLS Grid
• 2026-05-05 Relisted — MRED as Distributed by MLS Grid
• 2025-11-11 Contingent — MRED as Distributed by MLS Grid
• 2025-11-07 Listed $119,900 MRED as Distributed by MLS Grid
• 2024-03-12 Sold (Public Records) $150,000 Public Records
• 2024-03-05 Sold (MLS) $150,000 MRED as Distributed by MLS Grid
• 2023-12-31 Contingent — MRED as Distributed by MLS Grid
• 2023-12-22 Listed $149,900 MRED as Distributed by MLS Grid
• 1983-08-09 Sold (Public Records) $38,500 Public Records

Property tax history

+1.9%/yr

Latest (2023): $2,862 · +15.6% YoY. Source: county tax records.