1502 Shields Ave · Chicago Heights, IL 60411

$49,000

4 bd · 2.0 ba · 1,887 sqft · SingleFamily public records · 209 Days on market

Built 1913 3,049 sqft lot ↓ 27% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Great value opportunity in Chicago Heights! This spacious 2-unit building offers (2) 2-bed, 1-bath units with a total of 1,887 sq ft. Both units are currently month-to-month, providing flexibility for future updates, repositioning, or owner-occupant potential. Property has a solid layout with plenty of upside for the right investor. Convenient location near parks, schools, and major routes. Sold as-is.

Key facts

• 2 unit building
• 3,049 sq ft lot
• 2 garage spots

Tags

• 2 UNIT BUILDING
• CONVENIENT LOCATION NEAR PARKS

Property features AI

Finance

• Other: Possession at closing
• Financial info: Special service area: No; Unit 1 currently rents for $300 (month-to-month); security deposit listed as $0; Unit 2 is month-to-month; Tenant responsibility: Unit 1 tenant pays all utilities; Unit 2 tenant pays none

Exterior

• Parking: Detached garage with 2 garage spaces (2 parking spaces total)
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Two- to four-unit building (two units total); Fee simple ownership; Over 100 years old; Brick construction; Built before 1978
• Construction: Brick exterior
• Exterior features: Lot dimensions approximately 37 x 79; Lot less than 0.25 acre; Close to commuter bus and train service and interstate access

Interior

• Kitchen: Each unit includes a stove, refrigerator, and microwave
• Bedrooms: 4 bedrooms (2 on the first floor, 2 on the second floor — each unit is a 2-bedroom unit)
• Bathrooms: 2 full bathrooms (one in each unit)
• Heating & cooling: Natural gas heating
• Interior features: 8 total rooms; Unfinished full basement
• Laundry & utility: Tenants pay all utilities for Unit 1; Unit 2 tenant pays none

🏷️ Possibly a rental listed for sale. The $49,000 price doesn't fit this home's estimated sale value (~$222,666) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 38.3% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 40% of the median local income ($62k/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 $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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?
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 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: 4.26% ✓
• Cap rate: 38.34%
• Cash-on-cash: 114.46%
• DSCR: 6.09
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $222,666
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 16th St	0.18mi	4/1.5	1,860 (-1%)	7mo	$81,000	$44	81
1231 Washington St	0.34mi	3/2.0 (-1)	1,880 (-0%)	2mo	$245,000	$130	77
241 W 16th St	0.12mi	4/3.0	1,642 (-13%)	19mo	$226,000	$138	52
1202 Washington St	0.41mi	5/2.0 (+1)	1,702 (-10%)	23mo	$201,000	$118	41
60 E 13th St	0.71mi	3/2.5 (-1)	2,000 (+6%)	22mo	$223,000	$112	32
180 E 23rd St	0.74mi	4/2.0	1,656 (-12%)	17mo	$115,000	$69	31

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.05×
• Total profit: $82,999
• Equity at exit: $7,306

10-year hold

• IRR: —
• Equity multiple: 16.53×
• Total profit: $213,040
• Equity at exit: $4,237

Cash invested: $13,720 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 222
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,085 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $1,309

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 32%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 W 14th Pl Unit 1 Chicago Heights, IL	3.0	1.0	1250	$1,750	$1.40	10d	1	0.93mi
1665 Buena Vista Ave Unit 3 Chicago Heights, IL	4.0	1.0	1700	$1,800	$1.06	18d	1	1.12mi

Listing history 17 events

1. 2026-06-15
   statusdays on market $49,000 Pending 209 DOM
2. 2026-06-13
   days on market $49,000 Contingent - No Showings 208 DOM
3. 2026-06-13
   days on market $49,000 Contingent - No Showings 207 DOM
4. 2026-06-09
   days on market $49,000 Contingent - No Showings 204 DOM
5. 2026-06-08
   days on market $49,000 Contingent - No Showings 203 DOM
6. 2026-06-07
   days on market $49,000 Contingent - No Showings 202 DOM
7. 2026-06-04
   days on market $49,000 Contingent - No Showings 199 DOM
8. 2026-06-03
   days on market $49,000 Contingent - No Showings 198 DOM
9. 2026-06-02
   days on market $49,000 Contingent - No Showings 197 DOM
10. 2026-06-01
    days on market $49,000 Contingent - No Showings 196 DOM
11. 2026-05-31
    days on market $49,000 Contingent - No Showings 195 DOM
12. 2026-04-26
    historical Contingent - No Showings
13. 2026-04-04
    status Active
14. 2025-12-17
    historical Contingent - Continue to Show
15. 2025-11-25
    price $49,000
16. 2025-11-17
    listed $59,000 Active
17. 1994-10-14
    soldstatus $67,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,023
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$1,425
• Taxable income: $15,869
• Est. tax owed @ 24.0%: −$3,809
• After-tax cash flow: $11,896/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

-26.9% since first listed

6 events — show timeline

• 2026-04-26 Contingent — MRED as Distributed by MLS Grid
• 2026-04-04 Relisted — MRED as Distributed by MLS Grid
• 2025-12-17 Contingent — MRED as Distributed by MLS Grid
• 2025-11-25 Price Changed $49,000 MRED as Distributed by MLS Grid
• 2025-11-17 Listed $59,000 MRED as Distributed by MLS Grid
• 1994-10-14 Sold (Public Records) $67,000 Public Records

Property tax history

+4.8%/yr

Latest (2023): $4,352 · +31.5% YoY. Source: county tax records.