Address
5000 W 16th Street, Cicero, IL
Price
$ 599,900
Property Attributes
  • MLS#12002562
  • TypeContingent
  • CountyCOOK
  • CityCicero
  • AreaCicero
  • Zip60804
  • StyleCommercial,Office
  • Year Built1924
  • Taxes$ 32170
  • Price$ 599,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage10000
  • Lot Size6,000 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

This is the opportunity you've been waiting for! Massive VALUE ADD - 11 UNIT opportunity in an ideal and highly dense business corridor in a prime Cicero location! 6 commercial units and 5 fully occupied cash-flowing residential apartments. This is your opportunity to build equity in a highly appreciating area! Package deal! Owner is retiring after 40 years! Rare opportunity! Sale includes a fully operating and profitable convenience store. Room to increase profits by improving and expanding convenience store, or simply lease out! First floor can be expanded for large businesses, or keep it divided for multiple streams of income. Perfect location for businesses on highly visible corner. Cicero is a highly appreciating market with a new Amazon warehouse and other major companies in the immediate area. This particular pocket is perfect for a landlord and for businesses due to its central location in an incredibly dense residential area. Vacancy rates are incredibly low. High rental market due to low inventory! Current owner did well off of his convenience store and so didn't need to rent out commercial units. Ask real estate agent for actual and projected numbers. Potential cap rate of 9-10%. Apartments: 4 bed/2 bath. 3 bed/1bath. 2 x 2 bed/1 bath. 1 bed/1bath. Large building with 100x60 ft exposure on two major streets. Opportunity to take your business to new heights! Schedule your showing before it's gone.

Price History
3/12/2024 Listed $599,900

General Features

Cooling Window Unit(s)
Possession Closing,Tenant's Rights
Zoning MULTI
Construction Materials Brick
Year Built 1924
Electric Circuit Breakers,Other
Tenant Pays Electricity
Stories 2
Property SubType Apts/Stores
Tax Year 2021
Current Use Commercial,Office,Other
Gross Income 89400
County Cook
Net Operating Income 33116
Operating Expense 56284
Insurance Expense 5367
Property Type Commercial Sale
Contingency Attorney/Inspection
Possible Use Commercial,Conditional Use,Condominium,Non Conforming,Office and Research,Multi-Family,Retail,Special Use,Other
Status Contingent
Directions North on 50th Ave. West on 16th Street.
City Cicero
Total Units 11
MLS Area Cicero
Lot Size Square Feet 6000
Street Name 16th
Tax Annual Amount 32170.4
Electric Expense 1469
Fuel Expense 9678
Trash Expense 4255
Water Sewer Expense 3515
Additional Parcels Y/N No
Days on Market 49
Standard Status Active Under Contract
Property Type Mixed Use

Interior Features

Flooring Wood,Other
Street Suffix Street

Exterior Features

Foundation Details Block,Brick/Mortar,Concrete Perimeter
Building Area Total 10000
Lot Dimensions 100X60
Frontage Type City Street
Exterior Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60804

Price
AVG $270K
$600K
Taxes
AVG $6,153
$32,170
Visits
AVG 113
38
Data Provided by Inside Real Estate®
Year Built
AVG 1927
1924

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