1515 Churchill Dr · Palatine, IL 60074

$249,999

2 bd · 2.0 ba · 0 sqft · Other public records · 12 Days on market

Built 1970

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Why this score? — see what drove the D+ 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 +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attractive all brick condo surrounded by beautiful landscaping with Park & amp; Pool. Nicely remodeled unit 2 BR + Den. Open kitchen with oak 42& quot; cabinets, lots of closets, washer and dryer in unit. Complex with swimming pool, playground and exercise room. Short drive to 53 expressway.

Key facts

• Oak cabinets
• Remodeled unit
• Washer and dryer

Tags

• ALL BRICK CONDO
• REMODELED UNIT
• OPEN KITCHEN
• OAK CABINETS
• WASHER AND DRYER
• SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $250k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/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 $231k (7.8% below list).
• Recommended offer: $231k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.2% in Palatine — 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 81/100 on livability (#92 in IL, #1,512 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities C-.
• Township Hsd 211 (urban): math 45% / reading 43% proficiency, ranked #89 of 620 in IL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lake Louise Elem School (math 12% / reading 9%, grade F, #1,473 of 2,056 statewide, top 72%, 1,032 students, 0% FRL); Winston Campus Jr High (math 13% / reading 19%, grade F, #488 of 665 statewide, top 74%, 591 students, 0% FRL); Palatine High School (math 26% / reading 29%, grade F, #215 of 693 statewide, top 31%, 2,652 students, 0% FRL).
• Zoned-school proficiency averages 18% at this address vs 44% district-wide (-26 pts) — the specific schools serving this property underperform the Township Hsd 211 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.3%/yr); 93 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 33% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $128k; list at $250k implies a 95% gain — meaningful room to come down on a strong offer.

Recommended offer $230,615 (7.8% below list)

Questions for the listing agent

1. Built in 1970 — 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. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.55×
• Total profit: $-31,303
• Equity at exit: $37,276

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-6,004
• Equity at exit: $21,615

Cash invested: $70,000 (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 60074

• Rents YoY: 4.3%
• Active inventory: 93
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,306 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $94

Break-even live

Break-even rent $2,187

Max offer price $249,999

Occupancy floor 91%

Sensitivity live

Price	-10% $267	-5% $181	+0% $94	+5% $8	+10% $-79
Rent	-10% $-88	-5% $3	+0% $94	+5% $185	+10% $276
Rate	-1.0pp $220	-0.5pp $158	base $94	+0.5pp $29	+1.0pp $-37

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2305 N Williamsburg St Arlington Heights, IL	3.0	1.5	1700	$3,600	$2.12	0d	1	0.27mi
1601 W Woods Dr Arlington Heights, IL	1.0	1.0	700	$1,950	$2.79	5d	1	0.48mi
1601 W Woods Dr Arlington Heights, IL	1.0	1.0	700	$1,935	$2.76	26d	1	0.48mi
2838 N Greenwood Ave Arlington Heights, IL	3.0	3.5	1852	$3,100	$1.67	20d	1	0.50mi
519 W Rand Rd Unit A Arlington Heights, IL	2.0	2.0	—	$3,350	—	0d	1	0.83mi
517 W Rand Rd Unit A Arlington Heights, IL	2.0	2.0	—	$3,350	—	0d	1	0.83mi
66 S Stonington Dr Palatine, IL	2.0	1.5	1363	$2,500	$1.83	22d	1	0.83mi
650 W Rand Rd Arlington Heights, IL	1.0–2.0	1.0–2.0	1025	$2,249	$2.19	1d	24	0.86mi
1445 E Evergreen Dr Palatine, IL	1.0	1.0	914	$2,205	$2.41	26d	1	0.88mi
1445 E Evergreen Dr Palatine, IL	2.0	1.0	895	$2,237	$2.50	17d	1	0.88mi
1445 E Evergreen Dr Palatine, IL	1.0–2.0	1.0	853	$2,871	$3.37	5d	1	0.88mi
111 S Baybrook Dr #214 Palatine, IL	2.0	2.0	1200	$2,095	$1.75	23d	1	0.89mi
1245 E Prairie Brook Dr Palatine, IL	1.0–3.0	1.0–2.0	927	$2,040	$2.20	3d	24	0.90mi
111 S Baybrook Dr Palatine, IL	2.0	2.0	1200	$1,998	$1.66	26d	2	0.90mi
1225 Woodbury Ln Unit 2B Palatine, IL	2.0	1.0	975	$1,695	$1.74	26d	1	0.94mi
1332 E Ports O Call Dr Unit EP Palatine, IL	2.0	1.0	850	$1,300	$1.53	0d	1	1.04mi
1348 N Geneva Dr Unit 1B Palatine, IL	1.0	1.0	775	$1,600	$2.06	18d	1	1.09mi
3000 Bayside Dr #201 Palatine, IL	2.0	2.0	—	$1,700	—	0d	1	1.12mi
1441 E Ports O Call Dr Unit 2S Palatine, IL	2.0	1.0	—	$1,700	—	20d	1	1.15mi
607 W Maude Ave Arlington Heights, IL	3.0	1.5	1200	$3,050	$2.54	6d	1	1.15mi
1132 E Randville Dr Unit 2F Palatine, IL	2.0	2.0	1200	$2,100	$1.75	3d	1	1.16mi
1520 N Fernandez Pl Arlington Heights, IL	3.0	1.0	1134	$2,700	$2.38	26d	1	1.18mi
1116 E Randville Dr Unit 102A Palatine, IL	2.0	2.0	1350	$2,250	$1.67	26d	1	1.18mi
1461 N Winslowe Dr #304 Palatine, IL	1.0	1.0	900	$1,500	$1.67	26d	1	1.28mi
225 S Rohlwing Rd #612 Palatine, IL	2.0	2.0	1000	$1,850	$1.85	21d	1	1.29mi
1459 N Winslowe Dr #301 Palatine, IL	1.0	1.0	950	$1,500	$1.58	20d	1	1.32mi
1523 N Winslowe Dr Unit 3a Palatine, IL	2.0	1.0	—	$1,550	—	26d	1	1.41mi

Listing history 9 events

1. 2026-06-21
   days on market $249,999 Active 12 DOM
2. 2026-06-18
   days on market $249,999 Active 9 DOM
3. 2026-06-17
   days on market $249,999 Active 8 DOM
4. 2026-06-16
   days on market $249,999 Active 7 DOM
5. 2026-06-15
   days on market $249,999 Active 6 DOM
6. 2026-06-13
   days on market $249,999 Active 4 DOM
7. 2026-06-13
   days on market $249,999 Active 3 DOM
8. 2026-06-10
   remarks 292-char remark
9. 2026-06-10
   listed $249,999 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,674
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,214
• − Management: −$2,214
• − Depreciation: −$7,273
• Taxable loss: −$3,031
• Est. tax savings @ 24.0%: +$727
• After-tax cash flow: $1,857/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: Township Hsd 211
• NCES district ID: 1730450
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $72,942
• Composite: 40.02/100
• National rank: #3824
• State rank: #89 of 620 in IL

Livability — Palatine

• Score: 81/100
• State rank: #92
• US rank: #1512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palatine, IL
• County: Cook County · 4,486,803 people
• City population: 74,664
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 36,460
• Household income: $84,089
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1468.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Hispanic / Latino 31% Asian 8% Two or more races 8% Black 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 26% Puerto Rican 1%
• Common ancestry: Romanian 9% Scotch-Irish 2% French 2%
• Foreign-born: 27% · Canada, South Korea, Jamaica
• Languages at home: 56% English-only · Spanish 26% Russian/Polish/Slavic 8% Other Indo-European 5%

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: ▼ -208.39%
• Current HPI: 220.9425
• Rent YoY: ▲ 4.35%
• 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

+95.3% since first listed

2 events — show timeline

• 2026-06-10 Listed $249,999 FSBO.com
• 2005-08-11 Sold (Public Records) $128,000 Public Records