3370 W Brooke Ave #410 · Waukegan, IL 60087

$119,900

3 bd · 1.0 ba · 612 sqft · Condo public records · 15 Days on market

Built 2005 $198/mo HOA · 10% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

Key facts

• Exercise room
• Secure elevator
• Deeded garage spot

Tags

• FULLY EQUIPPED KITCHEN
• BREAKFAST BAR
• DEEDED GARAGE SPOT
• SECURE ELEVATOR
• EXERCISE ROOM
• ON-SITE LAUNDRY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/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: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 4.6% in Waukegan — 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 75/100 on livability (#216 in IL, #4,074 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D, amenities D-.
• Waukegan CUSD 60 (suburban): math 7% / reading 10% proficiency, ranked #587 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oakdale Elem School (math 2% / reading 17%, grade F, #1,517 of 2,056 statewide, top 78%, 405 students, 0% FRL); Miguel Juarez Middle School (math 3% / reading 11%, grade F, #627 of 665 statewide, top 95%, 672 students, 0% FRL); Waukegan High School (math 5% / reading 6%, grade F, #609 of 693 statewide, top 88%, 4,355 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 40 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 30% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $95k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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. 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: 1.61% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.11%
• DSCR: 1.76
• GRM: 5.2

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: 8.5%
• Equity multiple: 1.33×
• Total profit: $11,228
• Equity at exit: $17,877

10-year hold

• IRR: 17.8%
• Equity multiple: 2.48×
• Total profit: $49,702
• 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 60087

• Home prices YoY: -20.3%
• Active inventory: 40
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,929 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$169 /mo · $2,023/yr
• Insurance: −$50
• HOA: −$198
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $479

Break-even live

Break-even rent $1,323

Max offer price $119,900

Occupancy floor 70%

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2025 Greystem Cir Gurnee, IL	2.0	1.0–2.0	827	$2,425	$2.93	1d	43	1.15mi
2805 W Glen Flora Ave Waukegan, IL	1.0–2.0	1.0–1.5	862	$1,610	$1.87	2d	9	1.20mi
1800 Wedgewood Dr Gurnee, IL	1.0–2.0	1.0–2.0	850	$1,850	$2.18	1d	12	1.36mi

HOA detail condo

• Monthly dues: $198 · $2,376/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-02-21
   status Pending
2. 2026-02-16
   price $119,900
3. 2026-02-05
   listed $119,000 Active
4. 2024-03-22
   soldstatus $95,000
5. 2024-03-21
   soldstatus $95,000 Closed 880-char remark

   Show marketing remark (880 chars)

   Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

6. 2024-03-18
   status Pending 880-char remark

   Show marketing remark (880 chars)

   Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

7. 2024-03-07
   historical Contingent - Continue to Show 880-char remark

   Show marketing remark (880 chars)

   Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

8. 2024-02-28
   status Active 880-char remark

   Show marketing remark (880 chars)

   Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

9. 2024-02-12
   historical Contingent - Continue to Show 880-char remark

   Show marketing remark (880 chars)

   Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

10. 2024-02-09
    listed $99,000 Active 880-char remark

    Show marketing remark (880 chars)

    Don't miss out on this fantastic chance to own a bright and spacious 1-bedroom condominium situated within a contemporary building constructed in 2006. Located on the 4th floor, this unit boasts a well-appointed kitchen, complete with counter seating. The kitchen flows seamlessly into the inviting family room, perfect for entertaining. The bedroom easily accommodates a king-size bed and offers ample closet space for storage convenience. A full bathroom with a tub adds to the comforts of this home. Detached garage(deeded) is included in the price, and is conveniently situated near the entrance for easy access. Secure building is equipped with an elevator, exercise room, and laundry room. Underground parking is also available. Low assessments. Back on the market as buyer was unable to secure financing.| A preferred lender offers a reduced interest rate for this listing.

11. 2011-05-02
    historical
12. 2011-03-25
    status Reactivated
13. 2011-02-14
    historical
14. 2011-02-01
    listed New
15. 2007-08-27
    historical
16. 2006-06-26
    soldstatus $101,500
17. 2006-01-20
    listed

ⓘ 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: $2,023 · $169/mo
• Projected year-2 tax: $2,372 · $198/mo
• Expected delta: +$349/yr (+$29/mo · 17.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,151
• − Mortgage interest: −$6,716
• − Property taxes: −$2,023
• − Insurance: −$600
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − HOA: −$2,376
• − Depreciation: −$3,488
• Taxable income: $4,244
• Est. tax owed @ 24.0%: −$1,019
• After-tax cash flow: $4,727/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: Waukegan CUSD 60
• NCES district ID: 1741250
• Math proficiency: 7% ▼ -8.00%
• Reading proficiency: 10% ▼ -8.00%
• Median HH income: $43,248
• Composite: 7.73/100
• National rank: #9939
• State rank: #587 of 620 in IL

Livability — Waukegan

• Score: 75/100
• State rank: #216
• US rank: #4074

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukegan, IL
• County: Lake County · 591,991 people
• City population: 99,634
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 27,293
• Household income: $76,738
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 894.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 700,217 people
• By 2030: 693,290 · -1.0%
• By 2040: 673,588 · -3.8%
• By 2050: 643,556 · -8.1%
• By 2075: 562,792 · -19.6%
• By 2100: 457,715 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 56% White 25% Two or more races 20% Black 15% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 40% Puerto Rican 7%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 25% · Canada, United Kingdom
• Languages at home: 49% English-only · Spanish 46% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Lake

• 2024 margin: Strong D (+20.8) · D 59.7% · R 38.9% · Other 1.4%
• 2008→2024 swing: +1.1pp toward D · 2008: 19.6pp · 2024: 20.8pp
• All cycles: 2024: D+20.8 2020: D+24.1 2016: D+20.3 2012: D+8.1 2008: D+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.05%
• Current HPI: 243.1613
• 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

+18.1% since first listed

17 events — show timeline

• 2026-02-21 Pending — MRED as Distributed by MLS Grid
• 2026-02-16 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2026-02-05 Listed $119,000 MRED as Distributed by MLS Grid
• 2024-03-22 Sold (Public Records) $95,000 Public Records
• 2024-03-21 Sold (MLS) $95,000 MRED as Distributed by MLS Grid
• 2024-03-18 Pending — MRED as Distributed by MLS Grid
• 2024-03-07 Contingent — MRED as Distributed by MLS Grid
• 2024-02-28 Relisted — MRED as Distributed by MLS Grid
• 2024-02-12 Contingent — MRED as Distributed by MLS Grid
• 2024-02-09 Listed $99,000 MRED as Distributed by MLS Grid
• 2011-05-02 Listing Removed — MRED as Distributed by MLS Grid
• 2011-03-25 Relisted — MRED as Distributed by MLS Grid
• 2011-02-14 Listing Removed — MRED as Distributed by MLS Grid
• 2011-02-01 Listed — MRED as Distributed by MLS Grid
• 2007-08-27 Listing Removed — MRED as Distributed by MLS Grid
• 2006-06-26 Sold (Public Records) $101,500 Public Records
• 2006-01-20 Listed — MRED as Distributed by MLS Grid

Property tax history

-1.8%/yr

Latest (2023): $2,023 · +68.1% YoY. Source: county tax records.