18508 Chicago Ave · Lansing, IL 60438

$259,000

3 bd · 1.5 ba · 1,320 sqft · SingleFamily public records · 40 Days on market

Built 1915 7,620 sqft lot Est $210k · 23% over

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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).

• Cash flow +7.6/30.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 18508 Chicago Ave. in Lansing, IL-a charming 4-bedroom, 2-bathroom Cape Cod with plenty of space and potential! The main floor offers a cozy living room, a spacious family room perfect for entertaining, an eat-in kitchen, and a main floor bedroom for added convenience. Upstairs, you'll find three additional bedrooms, including a primary en suite for extra comfort and privacy. This home provides a great opportunity to make it your own with some updates and personal touches. Home is being sold AS IS. Don't miss out-schedule your showing today!

Key facts

• Master suite
• Fenced yard
• New appliances

Tags

• MASTER SUITE
• FIREPLACE
• WALKOUT PATIO
• EAT-IN KITCHEN
• NEW APPLIANCES
• FENCED YARD

Property features AI

Finance

• Other: Lot dimensions approximately 60 x 127 (less than 0.25 acre); Located in the corporate limits of Lansing, Township of Thornton
• HOA & community: No master association required

Exterior

• Parking: Two parking spaces; Concrete parking, off-alley access
• Utilities: Lake Michigan water source; Public sewer; 100 amp electric service
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Property is over 100 years old; Built before 1978
• Construction: Aluminum and vinyl siding; Asphalt roof; Estimated living area
• Exterior features: Deck; Curbs and sidewalks

Interior

• Kitchen: Kitchen with eating area / table space
• Bedrooms: 5 bedrooms (including a main-level bedroom and a second-floor primary bedroom); Bedroom dimensions include 17x12, 12x9, 10x11, 9x9, and 17x9
• Flooring: Carpet in most living spaces and bedrooms; Vinyl flooring in the kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Finished attic; Separate dining room; Unfinished/partial basement; 1st floor bedroom; Ceiling fan(s); One fireplace located in the master bedroom; Nine total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $-312 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (18.0% below list).
• Recommended offer: $204k (21.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, health & safety D+.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 136 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 34% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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 $159k; list at $259k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $203,850 (21.3% 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 40 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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 D 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: 0.82% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.17%
• DSCR: 0.77
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $209,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18240 Wildwood Ave	0.36mi	3/2.0	1,400 (+6%)	6mo	$264,000	$189	66
3316 Ann St	0.46mi	3/2.5	1,264 (-4%)	3mo	$260,000	$206	65
2621 Ridge Rd	0.58mi	4/2.0 (+1)	1,323 (+0%)	2mo	$216,000	$163	64
18302 Roy St	0.44mi	4/1.5 (+1)	1,254 (-5%)	6mo	$200,000	$159	61
18032 Wildwood Ave	0.61mi	3/1.5	1,224 (-7%)	1mo	$170,000	$139	59
3007 190th St	0.60mi	3/1.0	1,232 (-7%)	2mo	$199,900	$162	57
17913 Oakwood Ave	0.75mi	3/1.0	1,257 (-5%)	2mo	$182,000	$145	54
18518 Glen Oak Ave	0.69mi	4/2.0 (+1)	1,338 (+1%)	6mo	$257,000	$192	54
18013 Park Ave	0.62mi	3/2.0	1,200 (-9%)	3mo	$180,000	$150	51
2643 Ridge Rd	0.55mi	3/2.0	1,502 (+14%)	2mo	$234,000	$156	48
3048 189th St	0.52mi	3/1.0	1,500 (+14%)	6mo	$230,000	$153	46
2444 187th St	0.66mi	3/2.0	1,514 (+15%)	4mo	$205,000	$135	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.15×
• Total profit: $-61,697
• Equity at exit: $38,618

10-year hold

• IRR: -20.7%
• Equity multiple: -0.09×
• Total profit: $-78,698
• Equity at exit: $22,394

Cash invested: $72,520 (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 60438

• Active inventory: 136
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$524 /mo · $6,290/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-312

Break-even live

Break-even rent $2,519

Max offer price $203,850

Occupancy floor —

Sensitivity live

Price	-10% $-166	-5% $-239	+0% $-312	+5% $-385	+10% $-459
Rent	-10% $-480	-5% $-396	+0% $-312	+5% $-228	+10% $-144
Rate	-1.0pp $-182	-0.5pp $-246	base $-312	+0.5pp $-379	+1.0pp $-448

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	11d	1	0.20mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	0d	1	0.22mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	11d	1	0.47mi
18108 Oakwood Ave Lansing, IL	3.0	1.0	1800	$2,300	$1.28	0d	1	0.52mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	0.62mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	26d	1	0.70mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	26d	1	0.76mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	13d	1	0.78mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	0d	1	0.92mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	26d	1	0.92mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	0d	1	1.04mi
3023 Bernice Rd Unit 3030 3N Lansing, IL	3.0	1.0	1000	$1,400	$1.40	0d	1	1.38mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	0d	1	1.38mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	22d	1	1.38mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	4d	1	1.38mi

Listing history 44 events

1. 2026-06-21
   days on market $259,000 Active 40 DOM
2. 2026-06-18
   days on market $259,000 Active 37 DOM
3. 2026-06-17
   days on market $259,000 Active 36 DOM
4. 2026-06-16
   days on market $259,000 Active 35 DOM
5. 2026-06-15
   days on market $259,000 Active 34 DOM
6. 2026-06-13
   days on market $259,000 Active 32 DOM
7. 2026-06-09
   days on market $259,000 Active 28 DOM
8. 2026-06-08
   days on market $259,000 Active 27 DOM
9. 2026-06-08
   price $259,000 Active 26 DOM
10. 2026-06-07
    days on market $269,000 Active 26 DOM
11. 2026-06-04
    days on market $269,000 Active 23 DOM
12. 2026-06-03
    days on market $269,000 Active 22 DOM
13. 2026-06-02
    days on market $269,000 Active 21 DOM
14. 2026-06-01
    days on market $269,000 Active 20 DOM
15. 2026-05-31
    days on market $269,000 Active 19 DOM
16. 2026-05-12
    listed $269,000 Active
17. 2025-11-21
    soldstatus $159,000
18. 2025-11-17
    soldstatus $159,000 Closed 558-char remark

    Show marketing remark (558 chars)

    Welcome to 18508 Chicago Ave. in Lansing, IL-a charming 4-bedroom, 2-bathroom Cape Cod with plenty of space and potential! The main floor offers a cozy living room, a spacious family room perfect for entertaining, an eat-in kitchen, and a main floor bedroom for added convenience. Upstairs, you'll find three additional bedrooms, including a primary en suite for extra comfort and privacy. This home provides a great opportunity to make it your own with some updates and personal touches. Home is being sold AS IS. Don't miss out-schedule your showing today!

19. 2025-10-29
    status Pending 558-char remark

    Show marketing remark (558 chars)

    Welcome to 18508 Chicago Ave. in Lansing, IL-a charming 4-bedroom, 2-bathroom Cape Cod with plenty of space and potential! The main floor offers a cozy living room, a spacious family room perfect for entertaining, an eat-in kitchen, and a main floor bedroom for added convenience. Upstairs, you'll find three additional bedrooms, including a primary en suite for extra comfort and privacy. This home provides a great opportunity to make it your own with some updates and personal touches. Home is being sold AS IS. Don't miss out-schedule your showing today!

20. 2025-10-24
    listed $165,000 Active 558-char remark

    Show marketing remark (558 chars)

    Welcome to 18508 Chicago Ave. in Lansing, IL-a charming 4-bedroom, 2-bathroom Cape Cod with plenty of space and potential! The main floor offers a cozy living room, a spacious family room perfect for entertaining, an eat-in kitchen, and a main floor bedroom for added convenience. Upstairs, you'll find three additional bedrooms, including a primary en suite for extra comfort and privacy. This home provides a great opportunity to make it your own with some updates and personal touches. Home is being sold AS IS. Don't miss out-schedule your showing today!

21. 2024-10-14
    historical
22. 2024-06-28
    listed Active
23. 2022-06-25
    price $1,525
24. 2016-06-24
    soldstatus $62,500 Closed Sale
25. 2016-06-13
    soldstatus $62,500
26. 2016-04-23
    status Pending
27. 2016-04-06
    historical Contingent
28. 2015-11-13
    status Reactivated
29. 2015-10-22
    status Pending
30. 2015-09-25
    price $69,000
31. 2015-09-02
    price $77,000
32. 2015-08-11
    price $82,000
33. 2015-07-23
    price $88,700
34. 2015-07-05
    price $97,600
35. 2015-06-16
    price $114,900
36. 2015-05-29
    listed $120,900 New
37. 2010-04-06
    soldstatus $55,000
38. 2010-03-30
    soldstatus $55,000 Closed Sale
39. 2010-02-24
    historical Contingent
40. 2010-02-22
    price $55,900 Price Change
41. 2010-01-30
    price $69,900 Price Change
42. 2009-12-31
    listed $89,900 New
43. 2005-10-18
    soldstatus $148,000
44. 1992-06-04
    soldstatus $106,500

ⓘ 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: $6,290 · $524/mo
• Projected year-2 tax: $6,290 · $524/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,490
• − Mortgage interest: −$14,508
• − Property taxes: −$6,290
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$7,535
• Taxable loss: −$8,216
• Est. tax savings @ 24.0%: +$1,972
• After-tax cash flow: $-1,775/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: Thornton Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• Rent YoY: —
• 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

+152.6% since first listed

29 events — show timeline

• 2026-05-12 Listed $269,000 MRED as Distributed by MLS Grid
• 2025-11-21 Sold (Public Records) $159,000 Public Records
• 2025-11-17 Sold (MLS) $159,000 MRED as Distributed by MLS Grid
• 2025-10-29 Pending — MRED as Distributed by MLS Grid
• 2025-10-24 Listed $165,000 MRED as Distributed by MLS Grid
• 2024-10-14 Listing Removed — MRED as Distributed by MLS Grid
• 2024-06-28 Listed — MRED as Distributed by MLS Grid
• 2022-06-25 Price Changed $1,525 RENT.
• 2016-06-24 Sold (MLS) $62,500 MRED as Distributed by MLS Grid
• 2016-06-13 Sold (Public Records) $62,500 Public Records
• 2016-04-23 Pending — MRED as Distributed by MLS Grid
• 2016-04-06 Contingent — MRED as Distributed by MLS Grid
• 2015-11-13 Relisted — MRED as Distributed by MLS Grid
• 2015-10-22 Pending — MRED as Distributed by MLS Grid
• 2015-09-25 Price Changed $69,000 MRED as Distributed by MLS Grid
• 2015-09-02 Price Changed $77,000 MRED as Distributed by MLS Grid
• 2015-08-11 Price Changed $82,000 MRED as Distributed by MLS Grid
• 2015-07-23 Price Changed $88,700 MRED as Distributed by MLS Grid
• 2015-07-05 Price Changed $97,600 MRED as Distributed by MLS Grid
• 2015-06-16 Price Changed $114,900 MRED as Distributed by MLS Grid
• 2015-05-29 Listed $120,900 MRED as Distributed by MLS Grid
• 2010-04-06 Sold (Public Records) $55,000 Public Records
• 2010-03-30 Sold (MLS) $55,000 MRED as Distributed by MLS Grid
• 2010-02-24 Contingent — MRED as Distributed by MLS Grid
• 2010-02-22 Price Changed $55,900 MRED as Distributed by MLS Grid
• 2010-01-30 Price Changed $69,900 MRED as Distributed by MLS Grid
• 2009-12-31 Listed $89,900 MRED as Distributed by MLS Grid
• 2005-10-18 Sold (Public Records) $148,000 Public Records
• 1992-06-04 Sold (Public Records) $106,500 Public Records

Property tax history

+5.0%/yr

Latest (2023): $6,290 · +4.8% YoY. Source: county tax records.