604 Illinois St · Lemont, IL 60439

$280,999

3 bd · 1.5 ba · 1,344 sqft · SingleFamily public records · 33 Days on market

Built 1887 Est $407k · 31% under

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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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Schools +4.4/10.0
• 1% rule +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cozy home located just a short walk from all the fun downtown Lemont has to offer. Featuring 2 bedrooms, 1 bathroom, a spacious kitchen, and a generous backyard ideal for entertaining, this home is ready for your personal touches to make it the perfect place.

Key facts

• Spacious kitchen
• Generous backyard
• Built 1887

Tags

• GENEROUS BACKYARD
• SPACIOUS KITCHEN

Property features AI

Finance

• Other: Possession at closing or immediate; Earnest money is held
• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story; Fee simple ownership; Estimated living area; Property is over 100 years old; Built before 1978
• Construction: Vinyl siding exterior
• Exterior features: Lot between 0.25 and 0.49 acre; Lot dimensions recorded

Interior

• Kitchen: Main-level kitchen (15 x 12)
• Bedrooms: Master bedroom on second level (15 x 10); Second bedroom on second level (12 x 9); Additional bedrooms noted
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Five total rooms; Unfinished partial basement
• Laundry & utility: Main-level laundry room (14 x 5)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $281k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (8.7% below list).
• Recommended offer: $257k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 1.9% in Lemont — 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 69/100 on livability (#389 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Lemont Twp Hsd 210 (suburban): math 46% / reading 47% proficiency, ranked #57 of 620 in IL (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oakwood School (624 students, 0% FRL); Old Quarry Middle Sch (math 41% / reading 51%, grade D+, #85 of 665 statewide, top 13%, 819 students, 0% FRL); Lemont Twp High School (math 46% / reading 47%, grade D-, #57 of 693 statewide, top 8%, 1,324 students, 0% FRL).
• Market conditions: 135 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $219k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $256,682 (8.7% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.85%
• Cash-on-cash: 2.00%
• DSCR: 1.09
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $407,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Lincoln St	0.33mi	4/1.5 (+1)	1,376 (+2%)	5mo	$455,000	$331	72
705 State St	0.47mi	3/1.0	1,330 (-1%)	4mo	$302,551	$227	71
903 Porter St	0.16mi	3/1.5	1,196 (-11%)	6mo	$292,500	$245	69
727 Mccarthy St	0.46mi	3/2.5	1,296 (-4%)	9mo	$428,000	$330	61
714 Walnut St	0.48mi	3/2.0	1,267 (-6%)	8mo	$392,000	$309	60
322 Freehauf St	0.72mi	3/2.0	1,384 (+3%)	1mo	$419,000	$303	59
611 Houston	0.40mi	3/2.5	1,217 (-9%)	8mo	$375,000	$308	55
306 Stephen St	0.18mi	2/2.0 (-1)	1,513 (+13%)	18mo	$300,000	$198	48
414 Hillview Ct	0.63mi	3/2.0	1,222 (-9%)	8mo	$475,000	$389	47
906 State St	0.71mi	3/1.0	1,482 (+10%)	5mo	$195,000	$132	44
722 Czacki St	0.44mi	2/1.5 (-1)	1,520 (+13%)	12mo	$400,000	$263	42
900 Singer Ave	0.72mi	3/1.0	1,251 (-7%)	13mo	$264,500	$211	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-37,188
• Equity at exit: $41,898

10-year hold

• IRR: -4.2%
• Equity multiple: 0.73×
• Total profit: $-21,606
• Equity at exit: $24,296

Cash invested: $78,680 (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 60439

• Active inventory: 135
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,567 high
• Mortgage (P&I): −$1,474
• Tax from tax record: −$306 /mo · $3,675/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $131

Break-even live

Break-even rent $2,401

Max offer price $280,999

Occupancy floor 90%

Sensitivity live

Price	-10% $290	-5% $210	+0% $131	+5% $51	+10% $-28
Rent	-10% $-72	-5% $29	+0% $131	+5% $232	+10% $334
Rate	-1.0pp $272	-0.5pp $202	base $131	+0.5pp $58	+1.0pp $-16

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: $70,250
• Closing costs: $8,430
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
225 Canal St Lemont, IL	2.0	2.0	1193	$2,880	$2.41	0d	1	0.30mi
612 Moczygemba St Unit 1 Lemont, IL	2.0	1.0	1000	$1,575	$1.57	3d	1	0.37mi
700 McCarthy St Lemont, IL	3.0	2.0	1397	$2,800	$2.00	0d	1	0.39mi
1019 Kim Pl Lemont, IL	3.0	2.0	1067	$3,375	$3.16	0d	1	0.85mi
16386 New Ave Lemont, IL	3.0	3.0	1837	$2,600	$1.42	9d	1	1.32mi

Listing history 19 events

1. 2026-06-21
   days on market $280,999 Active 33 DOM
2. 2026-06-18
   days on market $280,999 Active 30 DOM
3. 2026-06-17
   days on market $280,999 Active 29 DOM
4. 2026-06-16
   days on market $280,999 Active 28 DOM
5. 2026-06-15
   days on market $280,999 Active 27 DOM
6. 2026-06-13
   days on market $280,999 Active 25 DOM
7. 2026-06-09
   days on market $280,999 Active 21 DOM
8. 2026-06-08
   days on market $280,999 Active 20 DOM
9. 2026-06-07
   days on market $280,999 Active 19 DOM
10. 2026-06-04
    pricedays on market $280,999 Active 16 DOM
11. 2026-06-03
    days on market $285,999 Active 15 DOM
12. 2026-06-02
    days on market $285,999 Active 14 DOM
13. 2026-06-01
    days on market $285,999 Active 13 DOM
14. 2026-05-31
    days on market $285,999 Active 12 DOM
15. 2026-05-18
    listed $285,999 Active
16. 2006-04-17
    soldstatus $219,000
17. 2004-09-28
    soldstatus $180,000
18. 2001-08-16
    soldstatus $135,000
19. 1990-08-24
    soldstatus $65,000

ⓘ 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: $3,675 · $306/mo
• Projected year-2 tax: $5,027 · $419/mo
• Expected delta: +$1,352/yr (+$113/mo · 36.8%)

ⓘ 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 ≥103°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: $30,802
• − Mortgage interest: −$15,740
• − Property taxes: −$3,675
• − Insurance: −$1,405
• − Repairs & maintenance: −$2,464
• − Management: −$2,464
• − Depreciation: −$8,175
• Taxable loss: −$3,121
• Est. tax savings @ 24.0%: +$749
• After-tax cash flow: $2,319/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: Lemont Twp Hsd 210
• NCES district ID: 1722500
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $92,102
• Composite: 43.91/100
• National rank: #2913
• State rank: #57 of 620 in IL

Livability — Lemont

• Score: 69/100
• State rank: #389
• US rank: #8173

Category grades

Amenities F Commute F Cost of living F 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: Lemont, IL
• County: Cook County · 4,486,803 people
• City population: 24,192
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,192
• Household income: $121,724
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 169.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Romanian 25% Lithuanian 2% Iranian 1%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 73% English-only · Russian/Polish/Slavic 13% Other Indo-European 8% Spanish 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: ▼ -228.46%
• Current HPI: 204.861
• 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

+340.0% since first listed

5 events — show timeline

• 2026-05-18 Listed $285,999 MRED as Distributed by MLS Grid
• 2006-04-17 Sold (Public Records) $219,000 Public Records
• 2004-09-28 Sold (Public Records) $180,000 Public Records
• 2001-08-16 Sold (Public Records) $135,000 Public Records
• 1990-08-24 Sold (Public Records) $65,000 Public Records

Property tax history

+1.7%/yr

Latest (2023): $3,675 · +26.8% YoY. Source: county tax records.