Building Details

Building Size 1,150 SF

Year Built 1981

Listing Agency: Circle One Realty

Listed By: Ryan Cherney · License #471019427 Show Phone

Source: Kw

Added: Aug 26, 2025 Changed: Oct 4 Last Checked: Oct 12 at 5:57PM

Report an Issue

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

Investment Insights

Based on property information with market context.

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.

Key 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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,341

Cap Rate

6.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,820 $266.8K

Cap Rate 7%

$190,586 $190.6K

Cap Rate 9%

$148,233 $148.2K

Market Conditions

NOI Build-Up for 1,150 SF

Gross rent

$26.1K $22.68/SF

− Vacancy

−$1.8K −$1.59/SF

EGI

$24.3K $21.09/SF

− OpEx

−$10.9K −$9.49/SF

NOI

$13.3K $11.60/SF

Area

Cook County, IL

Vacancy

7.00%

Lease Rate

$22.68 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,820

Cap Rate 7%

$190,586

Cap Rate 9%

$148,233

Alternative Uses

Best Use

Apartment 5plus

$190.6K

$166.8K – $222.4K (±1% cap)

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 (±1% cap)

NOI $27,793 @ 7.0% cap · market cap 14.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Food Market Spa & Massage Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

545

Businesses Nearby

Explore this area Business Placement

Demographics for 60452, IL

27,363

Population

10,557

Households

2.6

Avg Household Size

40

Median Age

30%

College-Educated

92%

High-School Grad

8.6 sq mi

ZIP Area

3,182

Density / Sq Mi

$89,167

Median Household Income

$47,519

Median Earnings

$1,287

Median Rent

$249,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property With Retail

15524 S Cicero Avenue, Oak Forest, IL 60452

$2,420,000

View details

Leased Storefront with Garage

15530 Cicero Ave, Oak Forest, IL 60452

$400,000

2,000 SF

View details

Mixed-Use Property with Retail Storefronts

6000 W 159th Street, Oak Forest, IL 60452

Contact for pricing

7,063 SF

View details

Two-Unit Retail Building

5736-5740 West 159th Street, Oak Forest, IL 60452

Contact for pricing

8,831 SF

View details

Professional Office Unit

6006 W 159th Street 2w, Oak Forest, IL 60452

$79,900

View details

Frequently Asked Questions

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 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.