2626 Flossmoor Rd · Flossmoor, IL 60422

$698,000

2 bd · 2.5 ba · 6,357 sqft · Condo public records · 13 Days on market

Built 1970

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Amazing Mixed-use investment opportunity in Flossmoor. Considered one of Chicago's best suburbs! Approx. 2900sqft ground floor commercial space plus two 2nd Floor - 3 bedroom/1.1 bath units with hardwood flooring, in-unit laundry, central air and a 24x16 terrace. 10 parking spaces! The first floor commercial space was originally 2 spaces, with - and still exist, separate furnaces, electric meters. It can be easily restored to provide a total of 4 unit incomes! Steps to downtown Flossmoor, shopping, Metra train station and more. New residential development going up across the street!

Key facts

• Hardwood flooring
• 24x16 terrace
• 10 parking spaces

Tags

• GROUND FLOOR COMMERCIAL SPACE
• HARDWOOD FLOORING
• IN-UNIT LAUNDRY
• CENTRAL AIR
• 24X16 TERRACE
• 10 PARKING SPACES

Property features AI

Finance

• Other: 3 total units; Expense highlights: electric, water/sewer, trash, and insurance expenses reported
• Financial info: Gross and total monthly income reported as $7,750; Annual taxes reported (not included per instructions)

Exterior

• Parking: 1–5 outdoor parking spaces
• Utilities: Community water; Sewer connected; Electric to site (circuit breakers); Natural gas available
• Home design: Mixed-use property; Hip roof; Composition roofing
• Construction: Brick construction; Built before 1978; Concrete perimeter foundation
• Exterior features: City street frontage; Lot dimensions approximately 50 x 125

Interior

• Kitchen: 2 ranges
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Ceiling units and forced air ventilation; Central individual air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $698k.

Deal economics

• At list price, monthly cash flow is $-3k ($-41k/yr) — negative.
• To cash-flow at today's rent, offer at most $358k (48.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $313k (55.1% below list).
• Recommended offer: $313k (55.1% below list) — sets the bar for 1% rule.
• Cap rate 0.5% vs local median 4.3% in Flossmoor — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 80/100 on livability (#107 in IL, #1,718 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime B+; Watch: cost of living D, amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Heather Hill Elem School (math 27% / reading 37%, grade F, #586 of 2,056 statewide, top 31%, 326 students, 0% FRL); Parker Junior High School (math 16% / reading 21%, grade F, #438 of 665 statewide, top 67%, 858 students, 0% FRL); Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Market conditions: 95 active listings in the ZIP; 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $92k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; list at $698k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $313,401 (55.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.45% ✗
• Cap rate: 0.46%
• Cash-on-cash: -20.82%
• DSCR: 0.07
• GRM: 18.6

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: -59.7%
• Equity multiple: -0.68×
• Total profit: $-328,379
• Equity at exit: $104,074

10-year hold

• IRR: —
• Equity multiple: -1.87×
• Total profit: $-561,235
• Equity at exit: $60,350

Cash invested: $195,440 (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 60422

• Home prices YoY: -26.3%
• Active inventory: 95
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $3,134 medium
• Mortgage (P&I): −$3,660
• Tax from tax record: −$1,915 /mo · $22,985/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$658
• Net cashflow: $-3,391

Break-even live

Break-even rent $7,426

Max offer price $358,262

Occupancy floor —

Sensitivity live

Price	-10% $-2,996	-5% $-3,193	+0% $-3,391	+5% $-3,588	+10% $-3,786
Rent	-10% $-3,638	-5% $-3,515	+0% $-3,391	+5% $-3,267	+10% $-3,143
Rate	-1.0pp $-3,039	-0.5pp $-3,213	base $-3,391	+0.5pp $-3,572	+1.0pp $-3,756

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: $174,500
• Closing costs: $20,940
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $698,000 Active 13 DOM
2. 2026-06-18
   days on market $698,000 Active 10 DOM
3. 2026-06-17
   days on market $698,000 Active 9 DOM
4. 2026-06-16
   days on market $698,000 Active 8 DOM
5. 2026-06-15
   days on market $698,000 Active 7 DOM
6. 2026-06-13
   days on market $698,000 Active 5 DOM
7. 2026-06-08
   pricedays on marketlisting id $698,000 Active 1 DOM
8. 2026-06-07
   days on market $729,000 Active 132 DOM
9. 2026-06-04
   days on market $729,000 Active 129 DOM
10. 2026-06-03
    days on market $729,000 Active 128 DOM
11. 2026-06-02
    days on market $729,000 Active 127 DOM
12. 2026-06-01
    days on market $729,000 Active 126 DOM
13. 2026-05-31
    days on market $729,000 Active 125 DOM
14. 2026-05-11
    price $729,000
15. 2026-03-12
    price $749,000
16. 2026-01-26
    listed $790,000 Active
17. 2025-11-21
    historical
18. 2025-09-22
    listed Active
19. 2025-09-22
    historical
20. 2025-04-23
    listed Active
21. 2025-04-07
    historical
22. 2025-01-03
    listed Active
23. 2009-09-18
    historical
24. 2009-07-27
    price Price Change
25. 2009-06-17
    listed
26. 2009-05-29
    historical
27. 2009-02-28
    listed
28. 2009-02-27
    historical
29. 2008-10-01
    listed
30. 1996-05-08
    soldstatus $230,000

ⓘ 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: $22,985 · $1,915/mo
• Projected year-2 tax: $22,985 · $1,915/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,608
• − Mortgage interest: −$39,099
• − Property taxes: −$22,985
• − Insurance: −$3,490
• − Repairs & maintenance: −$3,009
• − Management: −$3,009
• − Depreciation: −$20,305
• Taxable loss: −$54,289
• Est. tax savings @ 24.0%: +$13,029
• After-tax cash flow: $-27,660/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Flossmoor

• Score: 80/100
• State rank: #107
• US rank: #1718

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flossmoor, IL
• City population: 9,885
• Population (ZIP): 9,885

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 Black (63%)
• Race & ethnicity: Black 63% White 28% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Iranian 3% Romanian 3% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2% 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: ▼ -67.78%
• Current HPI: 189.5534
• Rent YoY: —
• Metro: —
• 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

+217.0% since first listed

17 events — show timeline

• 2026-05-11 Price Changed $729,000 MRED as Distributed by MLS Grid
• 2026-03-12 Price Changed $749,000 MRED as Distributed by MLS Grid
• 2026-01-26 Listed $790,000 MRED as Distributed by MLS Grid
• 2025-11-21 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-22 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-22 Listed — MRED as Distributed by MLS Grid
• 2025-04-23 Listed — MRED as Distributed by MLS Grid
• 2025-04-07 Listing Removed — MRED as Distributed by MLS Grid
• 2025-01-03 Listed — MRED as Distributed by MLS Grid
• 2009-09-18 Listing Removed — MRED as Distributed by MLS Grid
• 2009-07-27 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-17 Listed — MRED as Distributed by MLS Grid
• 2009-05-29 Listing Removed — MRED as Distributed by MLS Grid
• 2009-02-28 Listed — MRED as Distributed by MLS Grid
• 2009-02-27 Listing Removed — MRED as Distributed by MLS Grid
• 2008-10-01 Listed — MRED as Distributed by MLS Grid
• 1996-05-08 Sold (Public Records) $230,000 Public Records

Property tax history

+3.5%/yr

Latest (2023): $22,985 · +12.1% YoY. Source: county tax records.