1243 Homestead Rd · La Grange Park, IL 60525

$1,195,000

56 bd · 91.0 ba · — sqft · MultiFamily · 43 Days on market

Built 1960 0.25 ac 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
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

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

Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

Key facts

• 0.25 acre lot
• Built 1960
• Listed 43 days

Property features AI

Finance

• Other: Reported annual expenses include water/sewer $5,331; electric $1,093; trash $2,018; insurance $4,751; Directions: La Grange Rd to 31st Street; Located in Proviso township
• Financial info: Total of 7 units; Total monthly income listed at $7,720; Gross income listed at $92,640; Gross rent multiplier 12.9; Example unit incomes: 2-bedroom unit $1,575/month; 1-bedroom units typically $880/month (max listed $1,250)

Exterior

• Parking: 6–12 assigned outdoor parking spaces
• Utilities: Municipal water; Sewer connected; Electric with circuit breakers
• Home design: Multi-family (5+ units); Flat membrane roof; Brick construction; Brick/mortar foundation; Built before 1978; Zoned MULTI
• Construction: Brick exterior; Membrane flat roof; Brick/mortar foundation
• Exterior features: Sidewalks; City street frontage

Interior

• Kitchen: 7 ranges; 1 dishwasher
• Bedrooms: One 2-bedroom unit; Six 1-bedroom units
• Bathrooms: Two full bathrooms in the 2-bedroom unit; One full bathroom in each 1-bedroom unit
• Heating & cooling: Hot water gas heating; Window air conditioning units (7)
• Interior features: Crawl space basement
• Laundry & utility: On-site washer and dryer (1 washer, 1 dryer); Washer/dryer are not leased

What this means for you Summary

Snapshot

• This is a 7 × 8-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $16k ($188k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($30k rent vs $1.20M).
• Recommended offer: $1.16M (3.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 3.2% in La Grange Park — 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 85/100 on livability (#27 in IL, #494 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living F.
• Lyons Twp Hsd 204 (suburban): math 49% / reading 53% proficiency, ranked #43 of 620 in IL (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.8%/yr); 88 active listings in the ZIP; high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $29,606/mo this rent would consume 304% of the median local household income ($117k/yr) (locally 424% 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 $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $335k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $740k; list at $1.20M implies a 61% gain — meaningful room to come down on a strong offer.

Recommended offer $1,159,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 2.48% ✓
• Cap rate: 21.99%
• Cash-on-cash: 56.05%
• DSCR: 3.49
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.77% rent growth · sell at horizon

5-year hold

• IRR: 57.5%
• Equity multiple: 3.65×
• Total profit: $886,729
• Equity at exit: $178,178

10-year hold

• IRR: 63.3%
• Equity multiple: 8.24×
• Total profit: $2,422,819
• Equity at exit: $103,322

Cash invested: $334,600 (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 60525

• Rents YoY: 5.8%
• Active inventory: 88
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $29,606 medium
• Mortgage (P&I): −$6,267
• Tax from tax record: −$995 /mo · $11,939/yr
• Insurance: −$498
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,217
• Net cashflow: $15,629

Break-even live

Break-even rent $9,822

Max offer price $1,195,000

Occupancy floor 42%

Sensitivity live

Price	-10% $16,306	-5% $15,967	+0% $15,629	+5% $15,291	+10% $14,953
Rent	-10% $13,290	-5% $14,460	+0% $15,629	+5% $16,799	+10% $17,968
Rate	-1.0pp $16,231	-0.5pp $15,933	base $15,629	+0.5pp $15,320	+1.0pp $15,005

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

Units	Beds	Baths	Est. rent
▸ 7× units	8	1	$29,603
Total (7 units)			$29,606

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: $298,750
• Closing costs: $35,850
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $1,195,000 Active 43 DOM
2. 2026-06-17
   days on market $1,195,000 Active 42 DOM
3. 2026-06-16
   days on market $1,195,000 Active 41 DOM
4. 2026-06-15
   days on market $1,195,000 Active 40 DOM
5. 2026-06-13
   days on market $1,195,000 Active 38 DOM
6. 2026-06-13
   days on market $1,195,000 Active 37 DOM
7. 2026-06-09
   days on market $1,195,000 Active 34 DOM
8. 2026-06-08
   days on market $1,195,000 Active 33 DOM
9. 2026-06-07
   days on market $1,195,000 Active 32 DOM
10. 2026-06-04
    pricedays on market $1,195,000 Active 29 DOM
11. 2026-06-03
    days on market $1,249,000 Active 28 DOM
12. 2026-06-02
    days on market $1,249,000 Active 27 DOM
13. 2026-06-01
    days on market $1,249,000 Active 26 DOM
14. 2026-05-31
    days on market $1,249,000 Active 25 DOM
15. 2026-05-06
    listed $1,249,000 Active
16. 2021-09-13
    soldstatus $740,000
17. 2021-09-10
    historical 580-char remark

    Show marketing remark (580 chars)

    Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

18. 2021-09-09
    soldstatus $740,000 Closed 580-char remark

    Show marketing remark (580 chars)

    Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

19. 2021-07-30
    status Active Under Contract 580-char remark

    Show marketing remark (580 chars)

    Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

20. 2021-07-16
    historical 580-char remark

    Show marketing remark (580 chars)

    Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

21. 2021-07-13
    status Contingent 580-char remark

    Show marketing remark (580 chars)

    Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

22. 2021-07-08
    listed $755,000 New 580-char remark

    Show marketing remark (580 chars)

    Clean and well maintained brick building with 7-units. Additional studio for the full time property/maintenance manager. This is a terrific opportunity for investors. Each has it's own assigned parking spot. Tenants pay for gas and electric. Each unit has its own window A/C and renters have access to a clean, shared coin laundry space. All 7 -units are currently rented and rents are currently below market level due to long term occupancy. For your tenants, this building is in a quiet neighborhood close to Brookfield zoo, transportation, LT schools and convenient shopping.

23. 2021-06-13
    historical
24. 2021-03-13
    listed New
25. 2018-07-19
    status Contingent (Do Not Show)
26. 2018-07-18
    status Reactivated
27. 2018-07-18
    historical
28. 2018-07-17
    status Contingent (Do Not Show)
29. 2018-07-14
    historical Contingent
30. 2018-07-11
    listed New

ⓘ 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: $11,939 · $995/mo
• Projected year-2 tax: $19,533 · $1,628/mo
• Expected delta: +$7,594/yr (+$633/mo · 63.6%)

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

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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $355,272
• − Mortgage interest: −$66,939
• − Property taxes: −$11,939
• − Insurance: −$5,975
• − Repairs & maintenance: −$28,422
• − Management: −$28,422
• − Depreciation: −$34,764
• Taxable income: $178,813
• Est. tax owed @ 24.0%: −$42,915
• After-tax cash flow: $144,636/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: Lyons Twp Hsd 204
• NCES district ID: 1723880
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 53% ▼ -6.00%
• Median HH income: $82,628
• Composite: 46.72/100
• National rank: #2394
• State rank: #43 of 620 in IL

Livability — La Grange Park

• Score: 85/100
• State rank: #27
• US rank: #494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Grange Park, IL
• County: Cook County · 4,486,803 people
• City population: 13,459
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 31,324
• Household income: $116,918
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 424.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 9% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 13% Slovak 2% Portuguese 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 82% English-only · Spanish 11% Russian/Polish/Slavic 5% 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: ▼ -339.57%
• Current HPI: 201.4064
• Rent YoY: ▲ 5.77%
• 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

+65.4% since first listed

16 events — show timeline

• 2026-05-06 Listed $1,249,000 MRED as Distributed by MLS Grid
• 2021-09-13 Sold (Public Records) $740,000 Public Records
• 2021-09-10 Listing Removed — MRED as Distributed by MLS Grid
• 2021-09-09 Sold (MLS) $740,000 MRED as Distributed by MLS Grid
• 2021-07-30 Pending — MRED as Distributed by MLS Grid
• 2021-07-16 Listing Removed — MRED as Distributed by MLS Grid
• 2021-07-13 Pending — MRED as Distributed by MLS Grid
• 2021-07-08 Listed $755,000 MRED as Distributed by MLS Grid
• 2021-06-13 Listing Removed — MRED as Distributed by MLS Grid
• 2021-03-13 Listed — MRED as Distributed by MLS Grid
• 2018-07-19 Pending — MRED as Distributed by MLS Grid
• 2018-07-18 Relisted — MRED as Distributed by MLS Grid
• 2018-07-18 Listing Removed — MRED as Distributed by MLS Grid
• 2018-07-17 Pending — MRED as Distributed by MLS Grid
• 2018-07-14 Contingent — MRED as Distributed by MLS Grid
• 2018-07-11 Listed — MRED as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2023): $11,939 · +3.7% YoY. Source: county tax records.