7730 Dempster St #205 · Morton Grove, IL 60053

$284,000

2 bd · 2.0 ba · 1,550 sqft · Condo · 26 Days on market

Built 1977 $369/mo HOA · 14% of rent

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Why this score? — see what drove the D- 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 +9.0/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• 1% rule +4.4/10.0
• Livability +4.3/5.0
• Schools +3.4/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

RARE "Twin Manor West" condominium designed and built by renowned Katz Weiss Builders. Spectacular 2 Bedroom - 2 Bath unit w/ In Unit laundry room and heated garage space (#40). Oversized custom kitchen w/ separate eating area, loads of wood cabinets, counter tops & ceramic tile floor. 20' Living Rm w/ 8'sliding glass doors to 18'balcony facing north over the residential area and superb treetop views. Formal Dining "L" will accommodate a full dining room set and all your entertaining needs. 20' Primary Bedroom suite w/ full bath & 9' x 6' walk in closet. 2nd bedroom w/ glass sliding doors, also opens to balcony. Hall bath w/ separate shower stall and adjacent

Key facts

• $369 HOA
• Garage
• Built 1977

Property features AI

Finance

• Other: Building has 33 units; School bus service, commuter bus and commuter train access, nearby interstate access; Subdivision: Twin Manors; Partial possession at closing or immediate
• HOA & community: Monthly association fee of $369; Association fee includes parking, insurance, lawn care, trash removal, and snow removal; Association amenities: storage, party room, elevators, and public bus/school bus access; Self-managed association; Pets not allowed

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Total parking for 2 vehicles
• Utilities: Lake Michigan water source; Public sewer; Electrical service with circuit breakers
• Home design: Attached single condo; Model: 2 BR / 2 Bath; Entry level: 2; Condo ownership
• Construction: Brick construction; Concrete perimeter foundation; Building approximately 41–50 years old; Built before 1978
• Exterior features: Balcony; Common grounds; Landscaped

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Eating area / table space
• Bedrooms: Two bedrooms (both on second level); Master bedroom on second level with full bath
• Flooring: Carpet
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Elevator; Storage; Walk-in closets; Separate dining room; Window treatments and drapes
• Laundry & utility: In-unit laundry with washer hookup (second level); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $284k.

Deal economics

• At list price, monthly cash flow is $-222 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (6.0% below list).
• Recommended offer: $245k (13.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 86/100 on livability (#19 in IL, #393 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Maine Township Hsd 207 (suburban): math 34% / reading 39% proficiency, ranked #143 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maine East High School (math 26% / reading 31%, grade F, #213 of 693 statewide, top 31%, 1,808 students, 0% FRL).
• Market conditions: Rents rising fast (+14.8%/yr); 17 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $156k; list at $284k implies a 82% gain — meaningful room to come down on a strong offer.

Recommended offer $244,822 (13.8% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.94% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.35%
• DSCR: 0.85
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.42×
• Total profit: $-45,769
• Equity at exit: $42,345

10-year hold

• IRR: 1.0%
• Equity multiple: 1.09×
• Total profit: $7,257
• Equity at exit: $24,555

Cash invested: $79,520 (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 60053

• Rents YoY: 14.8%
• Active inventory: 17
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,670 high
• Mortgage (P&I): −$1,489
• Tax from tax record: −$354 /mo · $4,251/yr
• Insurance: −$118
• HOA: −$369
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-222

Break-even live

Break-even rent $2,951

Max offer price $244,822

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: $71,000
• Closing costs: $8,520
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7322 W Crain St Unit 1FL Niles, IL	3.0	1.5	1128	$2,000	$1.77	24d	1	0.50mi
9201 N Milwaukee Ave Niles, IL	2.0	2.0	1364	$2,962	$2.17	24d	1	0.81mi
8058 W Lyons St Unit B Niles, IL	3.0	1.5	1200	$2,800	$2.33	21d	1	0.82mi
8108 N Oriole Ave Unit 2 Niles, IL	3.0	1.0	1200	$2,500	$2.08	6d	1	0.89mi
8418 W Oak Ave Unit 3 Niles, IL	3.0	1.5	1900	$2,450	$1.29	24d	1	0.90mi
8841 Chester Ave Unit 3 Niles, IL	3.0	2.0	1600	$2,700	$1.69	10d	1	1.03mi
8544 W Roseview Dr Niles, IL	3.0	2.0	1165	$3,950	$3.39	2d	1	1.10mi
133 James Ct Glenview, IL	3.0	2.0	1634	$3,600	$2.20	24d	1	1.19mi
1418 Carol St Unit 2 Park Ridge, IL	2.0	1.0	1100	$2,000	$1.82	5d	1	1.27mi
6701 Dempster St Morton Grove, IL	2.0	1.0–2.0	1005	$4,595	$4.57	1d	17	1.28mi
8970 N Parkside Ave #418 Des Plaines, IL	2.0	2.0	1100	$2,250	$2.05	24d	1	1.39mi

HOA detail condo

• Monthly dues: $369 · $4,428/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-04
   status $284,000 Pending 26 DOM
2. 2026-06-03
   days on market $284,000 Contingent - Continue to Show 26 DOM
3. 2026-06-02
   days on market $284,000 Contingent - Continue to Show 25 DOM
4. 2026-06-01
   days on market $284,000 Contingent - Continue to Show 24 DOM
5. 2026-05-31
   days on market $284,000 Contingent - Continue to Show 23 DOM
6. 2026-05-22
   historical Contingent - Continue to Show
7. 2026-05-08
   listed $284,000 Active
8. 1994-08-11
   soldstatus $156,000
9. 1993-06-04
   soldstatus $135,000
10. 1986-04-08
    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: $4,251 · $354/mo
• Projected year-2 tax: $5,349 · $446/mo
• Expected delta: +$1,098/yr (+$91/mo · 25.8%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,038
• − Mortgage interest: −$15,908
• − Property taxes: −$4,251
• − Insurance: −$1,420
• − Repairs & maintenance: −$2,563
• − Management: −$2,563
• − HOA: −$4,428
• − Depreciation: −$8,262
• Taxable loss: −$7,358
• Est. tax savings @ 24.0%: +$1,766
• After-tax cash flow: $-895/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: Maine Township Hsd 207
• NCES district ID: 1724090
• Math proficiency: 34% ▼ -13.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $79,034
• Composite: 34.36/100
• National rank: #5220
• State rank: #143 of 620 in IL

Livability — Morton Grove

• Score: 86/100
• State rank: #19
• US rank: #393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morton Grove, IL
• County: Cook County · 4,486,803 people
• City population: 24,619
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,619
• Household income: $111,116
• Rent vs Own: 14.8% rent · 85.2% own
• Severe rent burden: 385.0

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 0.61)
• Race & ethnicity: White 53% Asian 32% Two or more races 8% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 10% Scandinavian 3% Scotch-Irish 2%
• Foreign-born: 38% · Canada, South Korea, Vietnam
• Languages at home: 49% English-only · Other Indo-European 18% Russian/Polish/Slavic 8% Tagalog/Filipino 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: ▼ -157.28%
• Current HPI: 195.2869
• Rent YoY: ▲ 14.76%
• 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

+234.1% since first listed

5 events — show timeline

• 2026-05-22 Contingent — MRED as Distributed by MLS Grid
• 2026-05-08 Listed $284,000 MRED as Distributed by MLS Grid
• 1994-08-11 Sold (Public Records) $156,000 Public Records
• 1993-06-04 Sold (Public Records) $135,000 Public Records
• 1986-04-08 Sold (Public Records) $85,000 Public Records

Property tax history

+9.2%/yr

Latest (2023): $4,251 · +6.1% YoY. Source: county tax records.