1103 S Forums Ct · Wheeling, IL 60090

$1,130,000

11 bd · 6.0 ba · 6,585 sqft · MultiFamily public records · 21 Days on market

Built 1975 3,025 sqft lot

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Why this score? — see what drove the C+ 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• 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: 1 unit. 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

Well-kept, modern, 3-story building located in a small complex (only 26 buildings total) managed by a Home Owners' Association. The $500 monthly fee includes landscaping, snow removal, and scavenger. Building consists of 5 2-bedroom and 1 1-bedroom apartments. Each unit has separate electric central heating/air conditioning systems, hot water tanks and dishwashers . Owner pays water bill for the building. Spacious apartments with balconies/patios. Many improvements includes 5 updated kitchens. Coin operated washer & dryer provides extra income. Long-term owner is licensed Real Estate Broker.

Key facts

• 3 story building
• Small complex
• Updated kitchens

Tags

• 3 STORY BUILDING
• SMALL COMPLEX
• HOME OWNERS ASSOCIATION
• UPDATED KITCHENS
• COIN OPERATED WASHER DRYER

What this means for you Summary

Snapshot

• This is a 11-bed/6.0-bath multifamily listed at $1.13M.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.13M).
• Recommended offer: $1.11M (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% in Wheeling — 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 71/100 on livability (#335 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: schools F, amenities F, health & safety F.
• Township Hsd 214 (suburban): math 42% / reading 45% proficiency, ranked #103 of 620 in IL (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.8%/yr); 63 active listings in the ZIP; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $13,318/mo this rent would consume 187% of the median local household income ($85k/yr) (locally 1325% 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 $34k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($1.11M) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,113,050 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.86%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.75% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-33,844
• Equity at exit: $168,487

10-year hold

• IRR: 5.4%
• Equity multiple: 1.37×
• Total profit: $118,582
• Equity at exit: $97,702

Cash invested: $316,400 (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 60090

• Rents YoY: 1.8%
• Active inventory: 63
• Price-to-rent: 41.3×

Monthly cashflow live

• Estimated rent: $13,318 high
• Mortgage (P&I): −$5,926
• Tax from tax record: −$1,525 /mo · $18,305/yr
• Insurance: −$471
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,797
• Net cashflow: $2,599

Break-even live

Break-even rent $10,028

Max offer price $1,130,000

Occupancy floor 75%

Sensitivity live

Price	-10% $3,239	-5% $2,919	+0% $2,599	+5% $2,279	+10% $1,959
Rent	-10% $1,547	-5% $2,073	+0% $2,599	+5% $3,125	+10% $3,651
Rate	-1.0pp $3,168	-0.5pp $2,887	base $2,599	+0.5pp $2,306	+1.0pp $2,008

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$11,410
1× unit	1	1	$1,908
Total (6 units)			$13,318

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: $282,500
• Closing costs: $33,900
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-05
   listed $1,130,000 Active

ⓘ 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: $18,305 · $1,525/mo
• Projected year-2 tax: $21,978 · $1,832/mo
• Expected delta: +$3,673/yr (+$306/mo · 20.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $159,816
• − Mortgage interest: −$63,298
• − Property taxes: −$18,305
• − Insurance: −$5,650
• − Repairs & maintenance: −$12,785
• − Management: −$12,785
• − Depreciation: −$32,873
• Taxable income: $14,120
• Est. tax owed @ 24.0%: −$3,389
• After-tax cash flow: $27,801/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: Township Hsd 214
• NCES district ID: 1704170
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $68,267
• Composite: 39.13/100
• National rank: #4035
• State rank: #103 of 620 in IL

Livability — Wheeling

• Score: 71/100
• State rank: #335
• US rank: #6685

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeling, IL
• County: Cook County · 4,486,803 people
• City population: 38,298
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 38,298
• Household income: $85,355
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 1325.0

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: White 47% Hispanic / Latino 32% Asian 16% Two or more races 9% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Romanian 6% Scotch-Irish 5% Subsaharan African 5%
• Foreign-born: 45% · Canada, South Korea, China
• Languages at home: 37% English-only · Spanish 29% Russian/Polish/Slavic 17% Other Indo-European 5%

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: ▼ -238.28%
• Current HPI: 209.9251
• Rent YoY: ▲ 1.75%
• 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

1 event — show timeline

• 2026-05-05 Listed $1,130,000 MRED as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2023): $18,305 · +4.5% YoY. Source: county tax records.