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5000 W 16th Street Cicero, IL 60804
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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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Bought with Michael Savegnago • United Real Estate - Chicago