Rob Roy Country Club Village — True Cost of Ownership

Cook County | Prospect Heights | 650 homes | Attached condos | Homes $140K–$280K

Cook County assesses residential property differently than every other Illinois county. All other Illinois counties assess at 33.33% of market value. Cook County residential is assessed at 10% of market value. This is not a break — the tax rates in Cook are higher to compensate, resulting in a similar effective rate (~2.0–2.5%) to collar counties. But the mechanics matter: if you see a Cook County assessment and try to use the 33.33% collar-county formula to estimate your tax bill, you will get the wrong number. Use the effective rate approach (purchase price × 2.0–2.5%) instead.

Rob Roy Country Club Village is an age-targeted (not necessarily age-restricted 55+) condo community in Prospect Heights, northwest Cook County. At $400/mo, the HOA is the highest of any community in this price tier across the Chicago market — and it needs to be understood in context. Attached condo HOA fees cover significantly more than single-family HOAs: master insurance on the building structure, exterior maintenance including roof and siding, common area utilities, and often trash and water. For buyers who want true maintenance-free living where a leaky roof is someone else's problem, the $400/mo calculates differently than it looks.

Monthly Cost Breakdown

Cost Item	Est. Monthly (Low)	Est. Monthly (High)	Notes
HOA fee	$390	$420	Includes building insurance, exterior maintenance, trash, water in most condo structures
Property tax	$233	$467	Cook ~2.2% effective; on $140K–$280K attached units
Interior insurance (HO-6)	$40	$75	Covers interior/contents; building covered by master policy
Utilities (electric, gas)	$100	$175	Water/trash often included in HOA; verify per unit
Total monthly (excl. mortgage)	~$763	~$1,137

The condo HOA comparison trap: Comparing Rob Roy's $400/mo HOA to Shorewood Glen's $175/mo on paper makes Rob Roy look expensive. But if Shorewood Glen's fee excludes exterior maintenance, roof, building insurance, water, and trash — and Rob Roy's includes all of that — the real comparison is Rob Roy $400/mo vs. Shorewood Glen $175/mo + $150–$250/mo in owner-paid costs that Rob Roy buries in the fee. Run the full picture before deciding the $400 is too high.

Cook County Tax — Actual Mechanics

Purchase Price	Annual Tax Est. (2.2% eff.)	Monthly
$140,000	$3,080	$257
$180,000	$3,960	$330
$230,000	$5,060	$422
$280,000	$6,160	$513

Cook County residential assessed at 10% of market value (vs. 33.33% in collar counties). Tax rate applied to Equalized Assessed Value (EAV). Net result is an effective rate similar to collar counties. Senior General Homestead Exemption provides $10,000 EAV reduction in Cook (vs. ~$6,000 in collar counties) — larger Cook benefit. Senior Assessment Freeze available at 65+ with income under $65K; annual re-application required with Cook County Assessor.

Questions on Rob Roy Village?

Connect with a Cook County buyer agent who can walk you through the HOA master insurance policy and what it covers vs. what your HO-6 policy needs to address.

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