1247 Victoria Ave · North Chicago, IL 60064

$267,000

4 bd · 2.0 ba · 2,322 sqft · MultiFamily public records · 112 Days on market

Built 1920 3,725 sqft lot Est $480k · 44% 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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +7.5/10.0
• Appreciation +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

Key facts

• 3,725 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $267k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $267k).
• Recommended offer: $243k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.8% in North Chicago — 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 (#95 in IL, #1,536 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• North Chicago SD 187 (suburban): math 8% / reading 13% proficiency, ranked #574 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 (-1.6%/yr); year-one equity from $2k 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 (-1.6% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $23k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $121k; list at $267k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,970 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 1.25% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 6.7

CMA / ARV

• ARV (median comp): $480,224
• List price: $267,000
• Delta: -44.40%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-1.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.17×
• Total profit: $12,474
• Equity at exit: $56,755

10-year hold

• IRR: 11.2%
• Equity multiple: 2.03×
• Total profit: $77,048
• Equity at exit: $53,262

Cash invested: $74,760 (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 60064

• Home prices YoY: -0.7%
• Active inventory: 25
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $3,336 medium
• Mortgage (P&I): −$1,400
• Tax from tax record: −$501 /mo · $6,016/yr
• Insurance: −$111
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $623

Break-even live

Break-even rent $2,548

Max offer price $267,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,336
Total (2 units)			$3,336

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: $66,750
• Closing costs: $8,010
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1701 Victoria Ave North Chicago, IL	3.0	2.0	2345	$1,950	$0.83	43d	1	0.52mi
903 S McAlister Ave Waukegan, IL	4.0	2.0	2275	$2,560	$1.13	1d	1	0.59mi
2404 Pearsall Pkwy Waukegan, IL	4.0	2.0	2000	$4,300	$2.15	1d	1	1.19mi
708 Keller Ave Waukegan, IL	4.0	2.0	1800	$4,500	$2.50	1d	1	1.30mi

Listing history 50 events

1. 2026-06-18
   days on market $267,000 Active 112 DOM
2. 2026-06-17
   days on market $267,000 Active 111 DOM
3. 2026-06-16
   days on market $267,000 Active 110 DOM
4. 2026-06-15
   days on market $267,000 Active 109 DOM
5. 2026-06-13
   days on market $267,000 Active 107 DOM
6. 2026-06-13
   days on market $267,000 Active 106 DOM
7. 2026-06-09
   days on market $267,000 Active 103 DOM
8. 2026-06-08
   days on market $267,000 Active 102 DOM
9. 2026-06-07
   days on market $267,000 Active 101 DOM
10. 2026-06-04
    days on market $267,000 Active 98 DOM
11. 2026-06-03
    days on market $267,000 Active 97 DOM
12. 2026-06-02
    days on market $267,000 Active 96 DOM
13. 2026-06-01
    days on market $267,000 Active 95 DOM
14. 2026-05-31
    days on market $267,000 Active 94 DOM
15. 2026-05-01
    price $267,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

16. 2026-04-26
    price $268,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

17. 2026-03-23
    price $278,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

18. 2026-03-19
    price $281,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

19. 2026-03-13
    price $282,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

20. 2026-03-11
    price $284,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

21. 2026-03-04
    price $287,000 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

22. 2026-02-26
    listed $289,990 Active 390-char remark

    Show marketing remark (390 chars)

    This property features 2 flats both on 1.5 story building with separate basements and utilities. Great opportunity to live in one an rent one, this is a brick exterior property with a 2 car Frame garage. Kitchens feature granite counter tops. Both Kitchens and baths along with both flats were rehabbed in '24. Great tenancies and ready to sell. Included is a W/D leased for extra income.

23. 2026-02-24
    historical
24. 2026-02-16
    price
25. 2026-02-11
    listed Active
26. 2024-01-08
    historical
27. 2024-01-02
    listed $142,000 Active
28. 2023-12-13
    listed Active
29. 2023-11-27
    historical Contingent - No Showings
30. 2023-11-27
    historical
31. 2023-10-20
    status Active
32. 2023-10-20
    price
33. 2023-08-30
    historical Contingent - No Showings
34. 2023-08-20
    price
35. 2023-08-16
    listed Active
36. 2023-08-15
    historical
37. 2023-08-10
    price
38. 2023-07-28
    price
39. 2023-07-22
    price
40. 2023-07-18
    listed Active
41. 2023-07-17
    historical
42. 2023-07-12
    price
43. 2023-06-28
    price
44. 2023-06-16
    listed Active
45. 2023-05-02
    historical
46. 2023-04-07
    price
47. 2023-03-14
    listed Active
48. 2022-04-11
    soldstatus $120,700 Closed
49. 2022-04-11
    soldstatus $120,700 Closed
50. 2022-02-15
    historical Contingent - No Showings

ⓘ 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: $6,016 · $501/mo
• Projected year-2 tax: $6,038 · $503/mo
• Expected delta: +$22/yr (+$2/mo · 0.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,032
• − Mortgage interest: −$14,956
• − Property taxes: −$6,016
• − Insurance: −$1,335
• − Repairs & maintenance: −$3,203
• − Management: −$3,203
• − Depreciation: −$7,767
• Taxable income: $3,552
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $6,620/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: North Chicago SD 187
• NCES district ID: 1700110
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 13% ▼ -4.00%
• Median HH income: $39,812
• Composite: 9.05/100
• National rank: #9873
• State rank: #574 of 620 in IL

Livability — North Chicago

• Score: 81/100
• State rank: #95
• US rank: #1536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Chicago, IL
• City population: 29,316
• Population (ZIP): 15,047

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 54% Black 30% Two or more races 19% White 11% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 47% Puerto Rican 2%
• Common ancestry: Romanian 1% British 1% American 1%
• Foreign-born: 27% · Canada
• Languages at home: 51% English-only · Spanish 47% 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: ▼ -1.61%
• Current HPI: 233.6178
• 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

+295.6% since first listed

39 events — show timeline

• 2026-05-01 Price Changed $267,000 MRED as Distributed by MLS Grid
• 2026-04-26 Price Changed $268,000 MRED as Distributed by MLS Grid
• 2026-03-23 Price Changed $278,000 MRED as Distributed by MLS Grid
• 2026-03-19 Price Changed $281,000 MRED as Distributed by MLS Grid
• 2026-03-13 Price Changed $282,000 MRED as Distributed by MLS Grid
• 2026-03-11 Price Changed $284,000 MRED as Distributed by MLS Grid
• 2026-03-04 Price Changed $287,000 MRED as Distributed by MLS Grid
• 2026-02-26 Listed $289,990 MRED as Distributed by MLS Grid
• 2026-02-24 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-16 Price Changed — MRED as Distributed by MLS Grid
• 2026-02-11 Listed — MRED as Distributed by MLS Grid
• 2024-01-08 Listing Removed — MRED as Distributed by MLS Grid
• 2024-01-02 Listed $142,000 MRED as Distributed by MLS Grid
• 2023-12-13 Listed — MRED as Distributed by MLS Grid
• 2023-11-27 Contingent — MRED as Distributed by MLS Grid
• 2023-11-27 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-20 Relisted — MRED as Distributed by MLS Grid
• 2023-10-20 Price Changed — MRED as Distributed by MLS Grid
• 2023-08-30 Contingent — MRED as Distributed by MLS Grid
• 2023-08-20 Price Changed — MRED as Distributed by MLS Grid
• 2023-08-16 Listed — MRED as Distributed by MLS Grid
• 2023-08-15 Listing Removed — MRED as Distributed by MLS Grid
• 2023-08-10 Price Changed — MRED as Distributed by MLS Grid
• 2023-07-28 Price Changed — MRED as Distributed by MLS Grid
• 2023-07-22 Price Changed — MRED as Distributed by MLS Grid
• 2023-07-18 Listed — MRED as Distributed by MLS Grid
• 2023-07-17 Listing Removed — MRED as Distributed by MLS Grid
• 2023-07-12 Price Changed — MRED as Distributed by MLS Grid
• 2023-06-28 Price Changed — MRED as Distributed by MLS Grid
• 2023-06-16 Listed — MRED as Distributed by MLS Grid
• 2023-05-02 Listing Removed — MRED as Distributed by MLS Grid
• 2023-04-07 Price Changed — MRED as Distributed by MLS Grid
• 2023-03-14 Listed — MRED as Distributed by MLS Grid
• 2022-04-11 Sold (MLS) $120,700 MRED as Distributed by MLS Grid
• 2022-04-11 Sold (MLS) $120,700 MRED as Distributed by MLS Grid
• 2022-02-15 Contingent — MRED as Distributed by MLS Grid
• 2022-02-10 Listed $142,000 MRED as Distributed by MLS Grid
• 2022-02-10 Listing Removed — MRED as Distributed by MLS Grid
• 2001-07-23 Sold (Public Records) $67,500 Public Records

Property tax history

+1.1%/yr

Latest (2024): $6,016 · -25.8% YoY. Source: county tax records.