822 11th St · North Chicago, IL 60064

$219,000

3 bd · 2.0 ba · 1,764 sqft · Other public records · 139 Days on market

Built 1929 5,662 sqft 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 +29.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Don't miss this fantastic investment opportunity in North Chicago!. This 2-unit property has long-term, reliable tenants and underwent a complete gut rehab with all-new electrical and plumbing about 10 years ago. Each unit is equipped with washer and dryer hookups and the utilities are separated for gas and electric, with the owner paying for water and sewer. The property features a 2-car parking pad with additional spaces, as well as ample street parking. The garage, previously a coach house, has been deconverted for storage use but can easily be transformed into a functioning garage with the installation of a garage door. Located near top-rated schools like Lyon Magnet Elementary School and John Lewis Middle School, and close to beautiful parks such as Smith Park and Eugene P. King Park, this property offers both convenience and a great community atmosphere. Don't miss out on this solid investment in a prime location!

Key facts

• 2 car parking pad
• Ample street parking
• Complete gut rehab

Tags

• COMPLETE GUT REHAB
• NEW ELECTRICAL AND PLUMBING
• WASHER AND DRYER HOOKUPS
• UTILITIES SEPARATED
• 2 CAR PARKING PAD
• AMPLE STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $219k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.7% 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 0d 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 $61k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 7 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 $9k; list at $219k implies a 2305% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $66/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.52% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.64%
• DSCR: 1.70
• GRM: 5.5

CMA / ARV

• ARV (median comp): $480,224
• List price: $219,000
• Delta: -54.40%
• 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: 9.3%
• Equity multiple: 1.40×
• Total profit: $24,525
• Equity at exit: $46,552

10-year hold

• IRR: 16.3%
• Equity multiple: 2.54×
• Total profit: $94,507
• Equity at exit: $43,687

Cash invested: $61,320 (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: 5.5×

Monthly cashflow live

• Estimated rent: $3,339 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$599 /mo · $7,185/yr
• Insurance: −$91
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $733

Break-even live

Break-even rent $2,411

Max offer price $219,000

Occupancy floor 73%

Sensitivity live

Price	-10% $857	-5% $795	+0% $733	+5% $671	+10% $609
Rent	-10% $469	-5% $601	+0% $733	+5% $864	+10% $996
Rate	-1.0pp $843	-0.5pp $788	base $733	+0.5pp $676	+1.0pp $618

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
903 S McAlister Ave Waukegan, IL	4.0	2.0	2275	$2,560	$1.13	0d	1	0.36mi
1701 Victoria Ave North Chicago, IL	3.0	2.0	2345	$1,950	$0.83	45d	1	0.80mi
2404 Pearsall Pkwy Waukegan, IL	4.0	2.0	2000	$4,300	$2.15	0d	1	1.14mi
708 Keller Ave Waukegan, IL	4.0	2.0	1800	$4,500	$2.50	0d	1	1.23mi

Listing history 41 events

1. 2026-06-21
   days on market $219,000 Active 139 DOM
2. 2026-06-18
   days on market $219,000 Active 136 DOM
3. 2026-06-17
   days on market $219,000 Active 135 DOM
4. 2026-06-16
   days on market $219,000 Active 134 DOM
5. 2026-06-15
   days on market $219,000 Active 133 DOM
6. 2026-06-13
   days on market $219,000 Active 131 DOM
7. 2026-06-13
   days on market $219,000 Active 130 DOM
8. 2026-06-09
   days on market $219,000 Active 127 DOM
9. 2026-06-08
   days on market $219,000 Active 126 DOM
10. 2026-06-07
    days on market $219,000 Active 125 DOM
11. 2026-06-04
    days on market $219,000 Active 122 DOM
12. 2026-06-03
    days on market $219,000 Active 121 DOM
13. 2026-06-02
    days on market $219,000 Active 120 DOM
14. 2026-06-01
    days on market $219,000 Active 119 DOM
15. 2026-05-31
    days on market $219,000 Active 118 DOM
16. 2026-02-02
    listed $219,000 Active 934-char remark

    Show marketing remark (934 chars)

    Don't miss this fantastic investment opportunity in North Chicago!. This 2-unit property has long-term, reliable tenants and underwent a complete gut rehab with all-new electrical and plumbing about 10 years ago. Each unit is equipped with washer and dryer hookups and the utilities are separated for gas and electric, with the owner paying for water and sewer. The property features a 2-car parking pad with additional spaces, as well as ample street parking. The garage, previously a coach house, has been deconverted for storage use but can easily be transformed into a functioning garage with the installation of a garage door. Located near top-rated schools like Lyon Magnet Elementary School and John Lewis Middle School, and close to beautiful parks such as Smith Park and Eugene P. King Park, this property offers both convenience and a great community atmosphere. Don't miss out on this solid investment in a prime location!

17. 2024-10-19
    historical
18. 2024-07-31
    listed Active
19. 2013-05-17
    historical
20. 2012-05-18
    listed New
21. 2012-05-18
    historical
22. 2012-04-11
    listed New
23. 2011-12-14
    soldstatus $9,106 Closed Sale
24. 2011-10-06
    status Pending
25. 2011-09-29
    price $9,000 Price Change
26. 2011-09-02
    price $10,990 Price Change
27. 2011-07-25
    listed $11,845 New
28. 2010-09-30
    historical
29. 2010-02-04
    price Price Change
30. 2009-10-02
    price Price Change
31. 2009-09-18
    price Price Change
32. 2009-09-04
    price Price Change
33. 2009-08-20
    price Price Change
34. 2009-08-06
    price Price Change
35. 2009-07-23
    price Price Change
36. 2009-06-25
    status
37. 2009-06-19
    historical
38. 2009-06-08
    listed
39. 1997-12-18
    soldstatus $110,000
40. 1997-03-14
    soldstatus $73,000
41. 1995-12-05
    soldstatus $97,000

ⓘ 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: $7,185 · $599/mo
• Projected year-2 tax: $7,185 · $599/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 7/10 Severe FEMA zone X (unshaded) · 99% 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: $40,063
• − Mortgage interest: −$12,267
• − Property taxes: −$7,185
• − Insurance: −$1,892
• − Repairs & maintenance: −$3,205
• − Management: −$3,205
• − Depreciation: −$6,371
• Taxable income: $5,937
• Est. tax owed @ 24.0%: −$1,425
• After-tax cash flow: $7,366/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

+125.8% since first listed

26 events — show timeline

• 2026-02-02 Listed $219,000 MRED as Distributed by MLS Grid
• 2024-10-19 Listing Removed — MRED as Distributed by MLS Grid
• 2024-07-31 Listed — MRED as Distributed by MLS Grid
• 2013-05-17 Listing Removed — MRED as Distributed by MLS Grid
• 2012-05-18 Listed — MRED as Distributed by MLS Grid
• 2012-05-18 Listing Removed — MRED as Distributed by MLS Grid
• 2012-04-11 Listed — MRED as Distributed by MLS Grid
• 2011-12-14 Sold (MLS) $9,106 MRED as Distributed by MLS Grid
• 2011-10-06 Pending — MRED as Distributed by MLS Grid
• 2011-09-29 Price Changed $9,000 MRED as Distributed by MLS Grid
• 2011-09-02 Price Changed $10,990 MRED as Distributed by MLS Grid
• 2011-07-25 Listed $11,845 MRED as Distributed by MLS Grid
• 2010-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2010-02-04 Price Changed — MRED as Distributed by MLS Grid
• 2009-10-02 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-18 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-04 Price Changed — MRED as Distributed by MLS Grid
• 2009-08-20 Price Changed — MRED as Distributed by MLS Grid
• 2009-08-06 Price Changed — MRED as Distributed by MLS Grid
• 2009-07-23 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-25 Relisted — MRED as Distributed by MLS Grid
• 2009-06-19 Listing Removed — MRED as Distributed by MLS Grid
• 2009-06-08 Listed — MRED as Distributed by MLS Grid
• 1997-12-18 Sold (Public Records) $110,000 Public Records
• 1997-03-14 Sold (Public Records) $73,000 Public Records
• 1995-12-05 Sold (Public Records) $97,000 Public Records

Property tax history

+3.4%/yr

Latest (2024): $7,185 · +10.0% YoY. Source: county tax records.