Cicero, IL 60804,5000 W 16th Street
Cicero, IL 60804,5000 W 16th Street
Cicero, IL 60804,5000 W 16th Street
18
$510,000
$599,900
15.0%
Est.Price: ?

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10,000 SqFt

5000 W 16th Street Cicero, IL 60804

Est. payment /mo
SOLD DATE : 08/15/2024

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Key Details

Sold Price $510,000

Property Type Commercial

Sub Type Multi Family 5+

Listing Status Sold

Purchase Type For Sale

Square Footage 10,000 sqft

Price per Sqft $51

MLS Listing ID 12002550

Sold Date 08/15/24

Year Built 1924

Annual Tax Amount $32,170

Tax Year 2021

Lot Dimensions 100X60

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.

Location

State IL

County Cook

Zoning MULTI

Interior

Cooling Window Unit(s)

Fireplace N

Exterior

View Y/N true

Building

Foundation Block, Brick/Mortar, Concrete Perimeter

Structure Type Brick

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Listed by Josue Duarte • Duarte Realty Company
Bought with Michael Savegnago • United Real Estate - Chicago

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Sharie Jackson

Realtor | License ID: 475.180534

+1(708) 231-8901

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