We analyze the relationship between the coronal hole (CH) area/position and physical characteristics of the associated corotating high-speed stream (HSS) in the solar wind at 1 AU. For the analysis we utilize the data in the period DOY 25 – 125 of 2005, characterized by a very low coronal mass ejection (CME) activity. Distinct correlations between the daily averaged CH parameters and the solar wind characteristics are found, which allows us to forecast the solar wind velocity v, proton temperature T, proton density n, and magnetic field strength B, several days in advance in periods of low CME activity. The forecast is based on monitoring fractional areas A, covered by CHs in the meridional slices embracing the central meridian distance ranges [−40°,−20°], [−10°,10°], and [20°,40°]. On average, the peaks in the daily values of n, B, T, and v appear delayed by 1, 2, 3, and 4 days, respectively, after the area A attains its maximum in the central-meridian slice. The peak values of the solar wind parameters are correlated to the peak values of A, which provides also forecasting of the peak values of n, B, T, and v. The most accurate prediction can be obtained for the solar wind velocity, for which the average relative difference between the calculated and the observed peak values amounts to $\overline{\vert\delta\vert}\approx10$ %. The forecast reliability is somewhat lower in the case of T, B, and n ( $\overline{\vert\delta\vert}\approx20$ , 30, and 40%, respectively). The space weather implications are discussed, including the perspectives for advancing the real-time calculation of the Sun – Earth transit times of coronal mass ejections and interplanetary shocks, by including more realistic real-time estimates of the solar wind characteristics. [ABSTRACT FROM AUTHOR]