9312 S Kolmar Ave · Oak Lawn, IL 60453

$322,500

7 bd · 3.5 ba · 2,884 sqft · MultiFamily public records · 22 Days on market

Built 1977 9,375 sqft lot

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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
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

Key facts

• 9,375 sq ft lot
• 2 garage spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 2 × 8.0-bed/3.5-bath units multifamily listed at $322k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $630/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $322k).
• Recommended offer: $318k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.4% in Oak Lawn — 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 80/100 on livability (#102 in IL, #1,614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A-.
• Oak Lawn Chsd 229 (suburban): math 22% / reading 21% proficiency, ranked #384 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.2%/yr); 188 active listings in the ZIP; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $5,056/mo this rent would consume 72% of the median local household income ($84k/yr) (locally 827% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $90k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $317,662 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.57% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.61×
• Total profit: $55,044
• Equity at exit: $48,086

10-year hold

• IRR: 27.0%
• Equity multiple: 4.04×
• Total profit: $274,382
• Equity at exit: $27,884

Cash invested: $90,300 (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 60453

• Rents YoY: 8.2%
• Active inventory: 188
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $5,056 medium
• Mortgage (P&I): −$1,691
• Tax from tax record: −$909 /mo · $10,914/yr
• Insurance: −$134
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,062
• Net cashflow: $1,259

Break-even live

Break-even rent $3,462

Max offer price $322,500

Occupancy floor 70%

Sensitivity live

Price	-10% $1,442	-5% $1,350	+0% $1,259	+5% $1,168	+10% $1,077
Rent	-10% $860	-5% $1,059	+0% $1,259	+5% $1,459	+10% $1,659
Rate	-1.0pp $1,422	-0.5pp $1,341	base $1,259	+0.5pp $1,176	+1.0pp $1,091

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	8.0	3.5	$5,056
Total (2 units)			$5,056

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: $80,625
• Closing costs: $9,675
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-03-17
   status Pending
2. 2026-02-23
   listed $322,500 Active
3. 2009-10-01
   soldstatus $347,500 Closed Sale 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

4. 2009-09-24
   historical Contingent 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

5. 2009-05-29
   price $369,000 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

6. 2009-02-10
   price $379,900 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

7. 2009-01-09
   status 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

8. 2008-12-02
   historical 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

9. 2008-08-23
   listed $385,000 422-char remark

   Show marketing remark (422 chars)

   Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

10. 2008-08-23
    historical

    Show marketing remark (422 chars)

    Unique, custom and spacious describes this 2 flat. Lay-out of quad-level home. Main unit boast 3 bdrms upper level and 3bdrms in lower level. LR/DR w/ sliding patio doors leads to balcony w/ beautiful view of private fenced yard. Kit updated with all appliances stay. 2 1/2 baths main apt. Lots of closets and storage. Lower level laundry, Fam. Rm. and work/storage area. New 80 gal. HWT 2 C/A, 2 GFA units. 2 1/2 brk gar

11. 2008-04-24
    listed
12. 2001-07-26
    soldstatus $310,000
13. 1999-10-20
    soldstatus $312,500
14. 1999-10-20
    soldstatus $290,000

ⓘ 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: $10,914 · $909/mo
• Projected year-2 tax: $10,914 · $909/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 5/10 Major FEMA zone X (unshaded) · 51% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,672
• − Mortgage interest: −$18,065
• − Property taxes: −$10,914
• − Insurance: −$1,612
• − Repairs & maintenance: −$4,854
• − Management: −$4,854
• − Depreciation: −$9,382
• Taxable income: $10,991
• Est. tax owed @ 24.0%: −$2,638
• After-tax cash flow: $12,472/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: Oak Lawn Chsd 229
• NCES district ID: 1729220
• Math proficiency: 22% ▼ -4.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $52,505
• Composite: 19.41/100
• National rank: #8777
• State rank: #384 of 620 in IL

Livability — Oak Lawn

• Score: 80/100
• State rank: #102
• US rank: #1614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Lawn, IL
• County: Cook County · 4,486,803 people
• City population: 56,861
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 56,861
• Household income: $83,911
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 827.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 16% Iranian 1% Armenian 1%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 17% Russian/Polish/Slavic 5% Arabic 4%

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: ▼ -259.83%
• Current HPI: 214.6977
• Rent YoY: ▲ 8.23%
• 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

+3.2% since first listed

14 events — show timeline

• 2026-03-17 Pending — MRED as Distributed by MLS Grid
• 2026-02-23 Listed $322,500 MRED as Distributed by MLS Grid
• 2009-10-01 Sold (MLS) $347,500 MRED as Distributed by MLS Grid
• 2009-09-24 Contingent — MRED as Distributed by MLS Grid
• 2009-05-29 Price Changed $369,000 MRED as Distributed by MLS Grid
• 2009-02-10 Price Changed $379,900 MRED as Distributed by MLS Grid
• 2009-01-09 Relisted — MRED as Distributed by MLS Grid
• 2008-12-02 Contingent — MRED as Distributed by MLS Grid
• 2008-08-23 Listing Removed — MRED as Distributed by MLS Grid
• 2008-08-23 Listed $385,000 MRED as Distributed by MLS Grid
• 2008-04-24 Listed — MRED as Distributed by MLS Grid
• 2001-07-26 Sold (Public Records) $310,000 Public Records
• 1999-10-20 Sold (Public Records) $290,000 Public Records
• 1999-10-20 Sold (Public Records) $312,500 Public Records

Property tax history

+1.3%/yr

Latest (2023): $10,914 · -12.2% YoY. Source: county tax records.