26481 W Springwell Ave · Antioch, IL 60002

$134,900

1 bd · 1.0 ba · 876 sqft · SingleFamily public records · 25 Days on market

Built 1940 8,384 sqft lot $154/sqft · 35% below area Est $208k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special - Rehab / Flip / Rental Opportunity! Unlock the potential of this value-add property and bring your vision to life. Great opportunity for investors, rehabbers, flippers, or buyers looking for their next project. The home offers a desirable layout and a solid platform for renovation, redesign, and customization. With the right improvements, there is strong upside potential to create a beautiful residence or income-producing rental property. Nice yard provides additional outdoor space and possibilities for future enhancements. Located near Grass Lake and the Fox Chain O'Lakes recreational area, offering boating, fishing, trails, parks, and year-round outdoor activities. Oppor

Key facts

• Near grass lake
• Outdoor space
• 8,384 sq ft lot

Tags

• OUTDOOR SPACE
• NEAR GRASS LAKE
• BOATING FISHING TRAILS PARKS

Property features AI

Finance

• Other: Living area source: Assessor; Some photos are virtually staged; Possession at closing; Earnest money is held
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space); Garage is owned
• Utilities: Well water supply; Septic tank sewer; Natural gas service
• Home design: Detached single-family home; One-story; Fee simple ownership; Built before 1978
• Construction: Vinyl siding; Property age about 81–90 years
• Exterior features: Lot dimensions approximately 131 x 64; Lot smaller than 0.25 acre; Well water; Septic sewer

Interior

• Kitchen: Kitchen on main level (approx. 19 x 8)
• Bedrooms: Master bedroom on main level (approx. 12 x 10); Second bedroom on main level (approx. 10 x 10); Additional den (main level, approx. 11 x 9)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Five total rooms; Crawl space basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $948 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 3.5% in Antioch — 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 72/100 on livability (#305 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Chsd 117 (suburban): math 36% / reading 40% proficiency, ranked #135 of 620 in IL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Antioch Comm High School (math 31% / reading 37%, grade F, #147 of 693 statewide, top 22%, 1,309 students, 0% FRL).
• Market conditions: 141 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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 $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $115k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,876 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.83% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.11%
• DSCR: 2.34
• GRM: 4.5

CMA / ARV

• ARV (median comp): $207,633
• List price: $134,900
• Delta: -35.03%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26481 W Springwell Ave	0.00mi	2/1.0 (+1)	876 (0%)	0mo	$115,000	$131	95

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: 24.8%
• Equity multiple: 2.02×
• Total profit: $38,594
• Equity at exit: $20,114

10-year hold

• IRR: 32.6%
• Equity multiple: 3.96×
• Total profit: $111,678
• Equity at exit: $11,664

Cash invested: $37,772 (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 60002

• Home prices YoY: -34.4%
• Active inventory: 141
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,472 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$241 /mo · $2,897/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $948

Break-even live

Break-even rent $1,272

Max offer price $134,900

Occupancy floor 57%

Sensitivity live

Price	-10% $1,024	-5% $986	+0% $948	+5% $910	+10% $872
Rent	-10% $753	-5% $850	+0% $948	+5% $1,046	+10% $1,143
Rate	-1.0pp $1,016	-0.5pp $982	base $948	+0.5pp $913	+1.0pp $877

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26244 W Lake Ave Unit 2 Antioch, IL	1.0	1.0	650	$1,300	$2.00	0d	1	0.55mi
39259 N Jackson Dr Unit 1374781P Spring Grove, IL	2.0	1.0	990	$4,725	$4.77	0d	1	1.28mi
39849 N Harbor Ridge Dr Unit 38-4 Antioch, IL	2.0	2.0	1018	$2,500	$2.46	0d	1	1.50mi

Listing history 16 events

1. 2026-06-10
   status $134,900 Pending 25 DOM
2. 2026-06-09
   days on market $134,900 Contingent - Continue to Show 25 DOM
3. 2026-06-08
   days on market $134,900 Contingent - Continue to Show 24 DOM
4. 2026-06-07
   days on market $134,900 Contingent - Continue to Show 23 DOM
5. 2026-06-04
   days on market $134,900 Contingent - Continue to Show 20 DOM
6. 2026-06-03
   days on market $134,900 Contingent - Continue to Show 19 DOM
7. 2026-06-02
   days on market $134,900 Contingent - Continue to Show 18 DOM
8. 2026-06-01
   days on market $134,900 Contingent - Continue to Show 17 DOM
9. 2026-05-31
   days on market $134,900 Contingent - Continue to Show 16 DOM
10. 2026-05-18
    historical Contingent - Continue to Show 926-char remark
11. 2026-05-15
    listed $134,900 Active 926-char remark
12. 2020-02-28
    historical
13. 2019-11-06
    price
14. 2019-10-18
    price
15. 2019-09-24
    listed New
16. 1997-07-08
    soldstatus $74,000

ⓘ 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: $2,897 · $241/mo
• Projected year-2 tax: $2,979 · $248/mo
• Expected delta: +$83/yr (+$7/mo · 2.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 14 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: $29,664
• − Mortgage interest: −$7,556
• − Property taxes: −$2,897
• − Insurance: −$674
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − Depreciation: −$3,924
• Taxable income: $9,866
• Est. tax owed @ 24.0%: −$2,368
• After-tax cash flow: $9,007/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 117
• NCES district ID: 1703870
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $80,993
• Composite: 35.79/100
• National rank: #4836
• State rank: #135 of 620 in IL

Livability — Antioch

• Score: 72/100
• State rank: #305
• US rank: #5985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 24,396

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: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 6% Black 3% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 11% Lithuanian 3% Portuguese 2%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -116.22%
• Current HPI: 221.5754
• 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

+55.4% since first listed

11 events — show timeline

• 2026-06-11 Sold (MLS) $115,000 MRED as Distributed by MLS Grid
• 2026-06-09 Pending — MRED as Distributed by MLS Grid
• 2026-05-28 Contingent — MRED as Distributed by MLS Grid
• 2026-05-19 Relisted — MRED as Distributed by MLS Grid
• 2026-05-18 Contingent — MRED as Distributed by MLS Grid
• 2026-05-15 Listed $134,900 MRED as Distributed by MLS Grid
• 2020-02-28 Listing Removed — MRED as Distributed by MLS Grid
• 2019-11-06 Price Changed — MRED as Distributed by MLS Grid
• 2019-10-18 Price Changed — MRED as Distributed by MLS Grid
• 2019-09-24 Listed — MRED as Distributed by MLS Grid
• 1997-07-08 Sold (Public Records) $74,000 Public Records

Property tax history

+1.3%/yr

Latest (2024): $2,897 · +4.1% YoY. Source: county tax records.