One-Bedroom Residential Income
For Sale
$134,900
7415 Chevy Chase Court Unit 3, Fox Lake, IL 60020
Updated condo in a gated 55+ community with an in-unit washer and dryer and access to shared recreation facilities.
Property Size755 SF
Price / SF$178.68
Days on Market98
Property Features for 7415 Chevy Chase Court Unit 3
General Information
Standard status
Active
Size
755 SF
Property subtype
Condo,Quad-Ranch
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,913
Amenities
gated community
clubhouse
Par-3 9-Hole Golf Course
heated outdoor pool
tennis courts
bocce ball
shuffleboard
ping pong
pool tables
rec center
exercise room
art room
sewing room
quilting room
wood working room
poker room
computer room
library
greenhouse
garden plots
transportation bus
washer/dryer in unit
three-season room
storage room
walking trail
Building Details
Building Size
755 SF
Year Built
1975
Listing Agency:
Lake Homes Realty, LLC
(847) 363-0788
Listed By:
Holly Blanchette · License #471020440
(847) 587-8200
Source:
Payesregroup
Added: Jul 27
Changed: Oct 30
Last Checked: Oct 30 at 3:33PM
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 Lake Homes Realty, LLC
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Investment Insights
Based on property information with market context.
This one-bedroom condo offers 755 square feet of living space, laminate flooring, white kitchen cabinets and appliances, and updated light fixtures. The bathroom features a walk-in shower, and the water heater was replaced in 2023. A full wall of bedroom closets adds storage, while a separate closet houses the in-unit washer and dryer. The living room opens to a three-season room and storage area.
Set within the gated Leisure Village community, the condo has access to a walking trail and is a short stroll from the lake. Community amenities include a clubhouse, heated outdoor pool, tennis courts, bocce ball, shuffleboard, and a Par-3, 9-hole golf course. The recreation center includes exercise, art, sewing, woodworking, and library spaces, among others. The community also operates a 14-passenger bus for shopping trips and excursions around the Chain O'Lakes. The property was built in 1975.
Set within the gated Leisure Village community, the condo has access to a walking trail and is a short stroll from the lake. Community amenities include a clubhouse, heated outdoor pool, tennis courts, bocce ball, shuffleboard, and a Par-3, 9-hole golf course. The recreation center includes exercise, art, sewing, woodworking, and library spaces, among others. The community also operates a 14-passenger bus for shopping trips and excursions around the Chain O'Lakes. The property was built in 1975.
Key Highlights
- 755‑square‑foot, one‑bedroom condo in a gated 55+ community
- Walk‑in shower, laminate flooring, white kitchen cabinetry, and updated light fixtures
- Water heater replaced in 2023; washer and dryer are in the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,318
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,360
$186.4K
Cap Rate 7%
$133,114
$133.1K
Cap Rate 9%
$103,533
$103.5K
Market Conditions
NOI Build-Up for 755 SF
Gross rent
$18.1K $24.00/SF
− Vacancy
−$1.2K −$1.56/SF
EGI
$16.9K $22.44/SF
− OpEx
−$7.6K −$10.10/SF
NOI
$9.3K $12.34/SF
Area
Lake County, IL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,360
Cap Rate 7%
$133,114
Cap Rate 9%
$103,533
Alternative Uses
Best Use
Apartment 5plus
$133.1K
$116.5K – $155.3K
NOI $9,318 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,247 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
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Business Placement
Demographics for 60020, IL
10,967
Population
5,523
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
2,333
Density / Sq Mi
$71,028
Median Household Income
$44,732
Median Earnings
$1,228
Median Rent
$215,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo in a gated 55+ community with an in-unit washer and dryer and access to shared recreation facilities.
Where is this residential income property located?
The property is located at 7415 Chevy Chase Court Unit 3 Fox Lake, IL.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: 755‑square‑foot, one‑bedroom condo in a gated 55+ community; Walk‑in shower, laminate flooring, white kitchen cabinetry, and updated light fixtures; Water heater replaced in 2023; washer and dryer are in the unit
