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Scarborough Fare Condo with Upgrades

14511 Central Court #M2 Oak Forest, IL 60452

Claim this Listing
For Sale
$196,000

Updated 2-bedroom condo with modern amenities and convenient location.

Type:Condominium
Property size:
1,150 SF
Price / SF:
$170/SF
Added:
Aug 26, 2025
Days on Market:
321
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 office Circle One Realty

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


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.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

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.

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 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 local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Big Box & Wholesale Store Electrical Service (Bike/Boat/Book/etc) Store Auto Parts Store Cafe & Coffee Shop

Zoning and permitted uses should be independently verified with local authorities.

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.
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