Scarborough Fare Condo with
14511 Central Court #M2, Oak Forest, IL 60452
Updated 2-bedroom condo with modern amenities and convenient location.
Type:Condominium
Property size:
1,150 SFPrice / SF:
$170/SF- Added:
- Aug 26, 2025
- Days on Market:
- 276
- Last Refresh:
- May 19 at 10:25 pm
Property Features for 14511 Central Court #M2
General Information
- Standard status
- Active
- Size
- 1,150 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 1981
Listing agent Ryan Cherney License #471019427 (630) 862-5181
Listing office Circle One Realty (630) 862-5181
Listing date Aug 26, 2025
Source Kw
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Circle One Realty
HighLights
- Rare 2‑car garage offering potential rental or sale opportunities.
- Updated kitchen featuring solid Maple cabinets and SS appliances.
- Assessments include water, heat, snow removal, landscaping, garbage, and general maintenance.
- Enjoy the convenience of in‑unit laundry (4 years old).
- Newer furnace (3 years old) and A/C (2 years old) for efficient climate control.
- Relax on the screened‑in large balcony.
Overview
Located in the Scarborough Fare Condo Subdivision, this property features 2 bedrooms and 2 full bathrooms. The kitchen has been updated with solid Maple cabinets featuring self-closing drawers and stainless steel appliances. An in-unit laundry area includes a 4-year-old washer and dryer. The living and dining room areas are fitted with hardwood floors, while the bathrooms feature marble flooring. The entryway has vinyl tile, and the unit includes oak doors throughout. A stone gas fireplace is a focal point of the living space. The unit includes a large walk-in cedar closet and an additional storage room within the building. A coin laundry is also available in the building. The furnace is 3 years old, and the air conditioning unit is 2 years old. The master bathroom includes solid oak cabinets. A screened-in balcony offers outdoor space. A rare opportunity exists for a 2-car garage. The additional garage can be rented out for approximately $175 to $200 per month. The subdivision is pet-friendly and located in a quiet neighborhood. The well-maintained subdivision includes access to a pool and tennis court, with views of creeks and ponds. Assessments cover water, heat (gas), snow removal, landscaping, garbage disposal, and general maintenance. The property is close to shopping, dining, and a Metra station, with convenient access to major expressways 294, I-57, and I-80. The property is suitable for both homeowners and investors.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$148.2K
NOI $13,341 @ 9.00% cap · cautious / downside scenario
Moderate
$190.6K
NOI $13,341 @ 7.00% cap · market / base-case scenario
Aggressive
$266.8K
NOI $13,341 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.1k | $22.68 |
| − Vacancy | −$1.8k | −$1.59 |
| EGI | $24.3k | $21.09 |
| − OpEx | −$10.9k | −$9.49 |
| NOI | $13.3k | $11.60 |
1,150 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$190.6K
$166.8K – $222.4K
NOI $13,341 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.0K
$347.4K – $463.2K
NOI $27,793 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Oak Forest
- County
- Cook
- State
- Illinois
- Longitude
- -87.7549
- Latitude
- 41.6061
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Updated 2-bedroom condo with modern amenities and convenient location.
Where is this apartment building located?
The property is located at 14511 Central Court #M2 Oak Forest, IL.
What is the asking price?
The asking price for this property is $196,000.
What are key features of this property?
This property features: Rare 2‑car garage offering potential rental or sale opportunities.; Updated kitchen featuring solid Maple cabinets and SS appliances.; Assessments include water, heat, snow removal, landscaping, garbage, and general maintenance.
