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Listing provided courtesy of Forte Properties, Inc.MREDas Distributed by MLSGrid- MLS# 12631048MLS Provider

1243 Homestead RoadLa Grange Park, IL 60525

Commercial · 3 Beds · 0.26 Acres
$1,195,000 Active

1243 Homestead Road Overview

Time on Site:
54 days
Visits:
0

Check out this well-maintained 7-unit investment opportunity in desirable La Grange Park. This arm-chair investment property is a strong, stable investment property but also has so much potential upside for a new owner! Each unit includes an assigned parking space, adding tenant convenience and long-term value. Tenants pay their own gas and electric, helping keep operating expenses low. Additional income generated through shared coin laundry. Several units have been recently renovated with modern finishes, including new cabinetry, countertops, and LVP flooring, offering upside in rents while minimizing near-term capital expenditures. Vintage units can be turned in the same fashion to generate more income for the owner and can follow the proven strategy implemented by the owner now. Ownership has consistently maintained the building with annual roof coating and upkeep. Major mechanical updates include a new hot water storage tank (2024) and updated hot water boiler (for hot water, not heating) and piping (2025). Strong location near Brookfield Zoo, public transportation, top rated LT school district, and convenient shopping supports stable tenant demand and long term appreciation.

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1243 Homestead Road Facts & Features

  • Type Commercial
  • Lot 0.26 Acres

Details

General

Association/HOA

  • Association Fee Includes: None

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 1093
  • Fuel Expense: 3323
  • Gross Income: 92640
  • Insurance Expense: 4751
  • Maintenance Expense: 5250
  • Net Operating Income: 70875
  • Operating Expense: 21766
  • Trash Expense: 2018
  • Water Sewer Expense: 5331

Building Information

  • Year Built: 1960

Business Information

  • Current Use: Multi-Family

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: La Grange Park
  • Township: Proviso

Rent/Lease Information

  • Tenant Pays: Electricity

Tax Information

  • Tax Annual Amount: $12,643.80
  • Tax Year: 2024

General Information

  • Parcel Number: 15284200130000
  • Property Type: Commercial Sale
  • Zoning: MULTI

Interior

General Information

  • Basement: Crawl Space
  • Cooling: Window Unit(s)
  • Electric: Circuit Breakers
  • Foundation Details: Brick/Mortar
  • Stories: 2

Exterior

Lot Information

  • Additional Parcels: No
  • Frontage Type: City Street
  • Lot Size Acres: 0.26
  • Lot Size Dimensions: 99111
  • Lot Size Square Feet: 11062
  • Water Source: Municipal Water

Building Exterior/Construction

  • Construction Materials: Brick
  • Roof: Membrane

General Information

  • Number Of Units Total: 7
  • Utilities: Sewer Connected

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Beds Total: 2
  • Baths Total: 2
  • Units Total: 1

Unit 2 Details

  • Unit Type: Unit 2
  • Beds Total: 1
  • Baths Total: 1
  • Units Total: 6

Unit 3 Details

  • Unit Type: Unit 3
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

Unit 4 Details

  • Unit Type: Unit 4
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

Unit 5 Details

  • Unit Type: Unit 5
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

Unit 6 Details

  • Unit Type: Unit 6
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

Unit 7 Details

  • Unit Type: Unit 7
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 0

1243 Homestead Road Neighborhood

Community

60525 (LA GRANGE) Demographics

44
Median Age
2,399
Population Density (per sq. mile)
56%
College Educated
$92,031
Estimated Median Income
9,445
Estimated Total Home Owners
2,250
Estimated Total Renters
81% / 19%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1243 Homestead Road Monthly Cost

$
$ %
%
$
$
Randall Fowlkes
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1243 Homestead Road Market Data

Based on the last 30 days in this zip code

$725,708
Average List Price
$350
Average Price per Square Foot
0
Properties Sold
44
Average Days on Market
106
Properties for Sale
Calculations provided by Reliance Network

1243 Homestead Road History

Date Event Value Agent
6/8/2026Source: MRED Status Change
Active
6/3/2026Source: MRED Price Reduction
$1,195,000 -4.3%
6/3/2026Source: MRED Status Change
Price Change
5/11/2026Source: MRED Status Change
Active
5/6/2026Source: MRED Added to Database
May 06, 2026
6/20/2022Source: MRED Added to Database
January 27, 2022