13341 Olde Western Ave · Blue Island, IL 60406

$375,000

6 bd · 2.0 ba · 2,300 sqft · Condo public records · 254 Days on market

Built 1898 $163/sqft · 90% above area

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Cash flow +2.6/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity!!!! EITHER OPEN YOUR OWN BUSINESS HERE OR PURCHASE AS AN INVESTMENT WITH GREAT INCOME!!!! HISTORIC BLUE ISLAND WITH 2 STORY BUILDING! AND EXTRA ADJACENT LOT! 1ST FLOOR CURRENTLY LEASED WITH A HAIR SALON AND SPA. 2ND FLOOR UPDATED 2 BEDROOM APARTMENT W/ PRIVATE DECK, CURRENTLY RENTED. FULL BASEMENT AND 2 CAR GARAGE WITH REAR ENTRY. FULLY FENCED YARD. GREAT LOCATION AND GREAT OPPORTUNITY! CALL TODAY !!!

Key facts

• Private deck
• Full basement
• 2 story building

Tags

• 2 STORY BUILDING
• EXTRA ADJACENT LOT
• UPDATED 2 BEDROOM APARTMENT
• PRIVATE DECK
• FULL BASEMENT
• 2 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath condo listed at $375k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (58.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (49.9% below list).
• Recommended offer: $156k (58.5% below list) — sets the bar for cash-flow.
• Cap rate 2.2% vs local median 6.5% in Blue Island — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#159 in IL, #2,964 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $130k; list at $375k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,730 (58.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
3. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.50% ✗
• Cap rate: 2.17%
• Cash-on-cash: -14.73%
• DSCR: 0.34
• GRM: 16.6

CMA / ARV

• ARV (median comp): $197,719
• List price: $375,000
• Delta: 89.66%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -44.4%
• Equity multiple: -0.36×
• Total profit: $-142,708
• Equity at exit: $55,914

10-year hold

• IRR: -79.2%
• Equity multiple: -1.18×
• Total profit: $-229,394
• Equity at exit: $32,423

Cash invested: $105,000 (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 60406

• Home prices YoY: -26.8%
• Active inventory: 43
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $1,877 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$649 /mo · $7,786/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-1,289

Break-even live

Break-even rent $3,508

Max offer price $155,730

Occupancy floor —

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $375,000 Active 254 DOM
2. 2026-06-17
   days on market $375,000 Active 253 DOM
3. 2026-06-16
   days on market $375,000 Active 252 DOM
4. 2026-06-15
   days on market $375,000 Active 251 DOM
5. 2026-06-13
   days on market $375,000 Active 249 DOM
6. 2026-06-09
   days on market $375,000 Active 245 DOM
7. 2026-06-08
   days on market $375,000 Active 244 DOM
8. 2026-06-07
   days on market $375,000 Active 243 DOM
9. 2026-06-04
   days on market $375,000 Active 240 DOM
10. 2026-06-03
    days on market $375,000 Active 239 DOM
11. 2026-06-02
    days on market $375,000 Active 238 DOM
12. 2026-06-01
    days on market $375,000 Active 237 DOM
13. 2026-05-31
    days on market $375,000 Active 236 DOM
14. 2025-10-06
    listed $375,000 Active 423-char remark

    Show marketing remark (423 chars)

    Great Opportunity!!!! EITHER OPEN YOUR OWN BUSINESS HERE OR PURCHASE AS AN INVESTMENT WITH GREAT INCOME!!!! HISTORIC BLUE ISLAND WITH 2 STORY BUILDING! AND EXTRA ADJACENT LOT! 1ST FLOOR CURRENTLY LEASED WITH A HAIR SALON AND SPA. 2ND FLOOR UPDATED 2 BEDROOM APARTMENT W/ PRIVATE DECK, CURRENTLY RENTED. FULL BASEMENT AND 2 CAR GARAGE WITH REAR ENTRY. FULLY FENCED YARD. GREAT LOCATION AND GREAT OPPORTUNITY! CALL TODAY !!!

15. 2014-06-12
    soldstatus $130,000
16. 2000-05-17
    soldstatus $85,000

ⓘ 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: $7,786 · $649/mo
• Projected year-2 tax: $8,149 · $679/mo
• Expected delta: +$363/yr (+$30/mo · 4.7%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 13% 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: $22,525
• − Mortgage interest: −$21,006
• − Property taxes: −$7,786
• − Insurance: −$1,875
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$10,909
• Taxable loss: −$22,655
• Est. tax savings @ 24.0%: +$5,437
• After-tax cash flow: $-10,028/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: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Blue Island

• Score: 77/100
• State rank: #159
• US rank: #2964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Island, IL
• City population: 24,887
• Population (ZIP): 24,887

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 0.65)
• Race & ethnicity: Hispanic / Latino 44% Black 34% White 19% Two or more races 8%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Romanian 2% English 1% Iranian 1%
• Foreign-born: 19% · Canada
• Languages at home: 65% English-only · Spanish 33% 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: ▼ -94.77%
• Current HPI: 259.492
• 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

+341.2% since first listed

3 events — show timeline

• 2025-10-06 Listed $375,000 MRED as Distributed by MLS Grid
• 2014-06-12 Sold (Public Records) $130,000 Public Records
• 2000-05-17 Sold (Public Records) $85,000 Public Records

Property tax history

+2.1%/yr

Latest (2023): $7,786 · -14.7% YoY. Source: county tax records.