15 Oak Ln · Park Forest, IL 60466

$144,900

3 bd · 1.0 ba · 1,494 sqft · SingleFamily public records · 9 Days on market

Built 1956 7,200 sqft lot Est $199k · 27% under

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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 +25.8/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3-bedroom, 1.1-bath ranch in Park Forest with great potential and approximately 1,500 square feet of living space. This home offers a functional one-level layout, a separate family room with fireplace, generous room sizes, and a 2-car detached garage. The property needs TLC and cosmetic updating, making it a great opportunity for buyers looking to add their own style, build equity, or investors seeking their next project. Convenient location near schools, parks, shopping, and transportation. Sold as-is.

Key facts

• Near schools
• One-level layout
• Near parks

Tags

• ONE-LEVEL LAYOUT
• SEPARATE FAMILY ROOM
• FIREPLACE
• CONVENIENT LOCATION
• NEAR SCHOOLS
• NEAR PARKS

Property features AI

Finance

• Other: School bus service and nearby commuter train access; Possession at closing; Some photos are virtually staged
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned) with garage door opener; Two garage spaces (two total parking spaces); Asphalt driveway
• Utilities: Shared well water source; Storm sewer; 100 amp electric service
• Home design: Detached single-family ranch; One-story; Fee simple ownership; House age approximately 61–70 years; Built before 1978; Model: Ranch
• Construction: Aluminum siding and brick exterior; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Lot approximately 120 x 60 (less than 0.25 acre)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Eating area/table space in the kitchen (approx. 11 x 10)
• Bedrooms: Three bedrooms (all on the main level); Master bedroom on the main level (approximately 10 x 9); Two additional bedrooms on the main level (each approximately 9 x 8)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Steam heating; Radiant floor heating; Wall cooling unit(s)
• Interior features: Seven total rooms; Windows with screens; Pull-down stair attic access; Combined dining and living area; Wood-burning fireplace in the family room
• Laundry & utility: Laundry room; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).

Location & tenants

• Location reads 78/100 on livability (#148 in IL, #2,726 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F.
• Rich Twp Hsd 227 (suburban): math 5% / reading 12% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 102 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $76k; list at $145k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,900

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.54% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $198,702
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
343 Osage St	0.26mi	3/1.0	1,490 (-0%)	0mo	$185,000	$124	87
71 Cherry St	0.35mi	2/1.5 (-1)	1,500 (+0%)	8mo	$165,000	$110	69
6 Monee Ct	0.53mi	3/1.5	1,452 (-3%)	3mo	$120,000	$83	66
364 Osage St	0.41mi	4/3.0 (+1)	1,503 (+1%)	1mo	$245,000	$163	66
107 Chestnut St	0.26mi	4/2.5 (+1)	1,383 (-7%)	1mo	$215,000	$155	63
397 Oswego St	0.63mi	4/2.0 (+1)	1,398 (-6%)	2mo	$199,000	$142	49
329 Indianwood Blvd	0.62mi	2/2.0 (-1)	1,598 (+7%)	8mo	$140,000	$88	44
410 Main St	0.66mi	3/2.0	1,376 (-8%)	9mo	$189,000	$137	44
127 Blackhawk Dr	0.64mi	3/1.5	1,296 (-13%)	3mo	$117,000	$90	44
210 Marquette St	0.70mi	3/1.0	1,269 (-15%)	1mo	$153,000	$121	42
236 Indianwood Blvd	0.64mi	3/2.0	1,276 (-15%)	10mo	$170,000	$133	33
214 Marquette St	0.72mi	3/2.0	1,271 (-15%)	7mo	$184,900	$145	32

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-900
• Equity at exit: $21,605

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $29,082
• Equity at exit: $12,528

Cash invested: $40,572 (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 60466

• Home prices YoY: -21.1%
• Active inventory: 102
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,229 high
• Mortgage (P&I): −$760
• Tax from tax record: −$591 /mo · $7,089/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $350

Break-even live

Break-even rent $1,786

Max offer price $144,900

Occupancy floor 79%

Sensitivity live

Price	-10% $860	-5% $810	+0% $350	+5% $309	+10% $268
Rent	-10% $174	-5% $262	+0% $350	+5% $438	+10% $526
Rate	-1.0pp $423	-0.5pp $387	base $350	+0.5pp $312	+1.0pp $274

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	13d	1	0.10mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	2d	1	0.43mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	0.56mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	0.57mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	0.63mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	0.80mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	0.96mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	1.04mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	25d	1	1.09mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	1.18mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	3d	1	1.26mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	1.29mi
316 W 34th St Steger, IL	3.0	1.0–1.5	720	$1,715	$2.38	2d	5	1.35mi

Listing history 7 events

1. 2026-06-18
   days on market $144,900 Active 9 DOM
2. 2026-06-17
   days on market $144,900 Active 8 DOM
3. 2026-06-16
   days on market $144,900 Active 7 DOM
4. 2026-06-15
   days on market $144,900 Active 6 DOM
5. 2026-06-13
   days on market $144,900 Active 4 DOM
6. 2026-06-10
   remarks 517-char remark
7. 2026-06-10
   listed $144,900 Active 1 DOM

ⓘ 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: $7,089 · $591/mo
• Projected year-2 tax: $7,089 · $591/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,750
• − Mortgage interest: −$8,117
• − Property taxes: −$7,089
• − Insurance: −$724
• − Repairs & maintenance: −$2,140
• − Management: −$2,140
• − Depreciation: −$4,215
• Taxable income: $2,324
• Est. tax owed @ 24.0%: −$558
• After-tax cash flow: $3,643/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: Rich Twp Hsd 227
• NCES district ID: 1733420
• Math proficiency: 5% ▼ -3.00%
• Reading proficiency: 12% ▬ 0.00%
• Median HH income: $56,056
• Composite: 8.93/100
• National rank: #9885
• State rank: #577 of 620 in IL

Livability — Park Forest

• Score: 78/100
• State rank: #148
• US rank: #2726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park Forest, IL
• County: Cook County · 4,486,803 people
• City population: 21,461
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,461
• Household income: $61,654
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 900.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 19% Hispanic / Latino 9% Two or more races 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 2% Iranian 1% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -58.87%
• Current HPI: 219.9692
• 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

+70.5% since first listed

6 events — show timeline

• 2026-06-09 Listed $144,900 MRED as Distributed by MLS Grid
• 2017-05-02 Sold (Public Records) $76,000 Public Records
• 2017-04-21 Sold (MLS) $76,000 MRED as Distributed by MLS Grid
• 2017-03-21 Pending — MRED as Distributed by MLS Grid
• 2017-02-22 Listed $74,900 MRED as Distributed by MLS Grid
• 2006-07-17 Sold (Public Records) $85,000 Public Records

Property tax history

+4.3%/yr

Latest (2023): $7,089 · +54.7% YoY. Source: county tax records.