Cook, US
Owner Financing Available. Beautiful mixed-use 4 unit building located in Cicero, IL, a nearby suburb of Chicago a world class city. Two adjacent buildings on one pin. This unique offering allows an investor to acquire a 100% fully occupied building at an in-place 7.46% cap rate. Value add opportunity exists on the residential rent increase. The subject property is located just one block away from the newly developed 320,000 SF industrial corridor. Bridge Development joins dozens of national companies that have decided to relocate or to expand in the Town of Cicero, strengthening the tax base for residents & the community. The 18.5-acre site is located at 1531 S. 54th Ave., less than one mile from I-290. The site was formerly home to a General Electric manufacturing facility. The property will feature 36-foot clear heights, 50 docks, 77 trailer positions, parking for 273 cars. Subject Property: The 2 residential apartments (Each approx. 825 SF) feature recently remodeled 2 bedroom / 1 bathroom units, hardwood flooring, granite countertops, gas forced heating & cooling. The first commercial unit (warehouse), approximately 2,400 SF, features recent improvements such as new plumbing, 200 amp electrical, bathroom improvements, floor epoxy, kitchen cabinets, granite countertops, AC, climate control and state of the art sound, cameras and security. Tenant lease expires Dec. 2022 w/ 3% annual rent increases. The second commercial unit (salon), approximately 1,700 SF, features gas forced heating & cooling, hardwood floors, two bathrooms and basement storage. Tenant lease expires Sept. 2024 w/ 3% annual rent increase. BITCOIN/CRYPTO ACCEPTED.
Courtesy Of: Goldbay Advisors Inc.
Feature Highlights
- Built Before 1978
General Features
- List Date:
- 07/09/2020
- Foundation Type:
- Concrete
Interior Features
- Agent Owned/Interest:
- No
Exterior Features and Amenities
- Area:
- Cicero
- Lot Dimensions:
- 53X100
- Exterior Building Type:
- Brick
Financial
- Last List Price:
- 564900
- Update Date:
- 2020-09-03T05:05:54
- Sale Terms:
- Conventional,Owner May Help/Assist
- Taxes:
- 17377
- Status Date:
- 2020-09-03T05:05:54
- Possession:
- Closing,Immediate,Tenant's Rights
- Net Oper Income:
- $41,915.00
- Market Time:
- 73
- Listing Market Time:
- 73
- Listing Type:
- Exclusive Right To Sell
- List Date Received:
- 2020-07-09T15:09:11
- Gross Rental Income:
- $64,800.00
- Cooperative Compensation:
- AS A PERCENTAGE OF THE NET SALE PRICE. THE NET SALE PRICE IS THE GROSS SALE PRICE MINUS AMOUNTS TO BE CREDITED OR PAID TO THE BUYER, AS REFLECTED IN THE INITIAL SALES CONTRACT.
Other Features
- Approx Year Built:
- 1915
- Township:
- Cicero
- Zoning Type:
- COMMR
- Are any property photos virtually staged?:
- No
- Virtual Tour:
- Image360+realtor
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Data last updated: 2025-01-15.
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