2957 N Cicero Avenue, Chicago, IL

$1,085,000

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About 2957 N Cicero Avenue

Value-add 11-unit corner building in Belmont Cragin. Built in 1927, this 8,200 SF masonry brick asset features nine (9) upper-level apartments - four (4) studios, one (1) one-bedroom and four (4) two-bedrooms - over two (2) ground-floor storefronts totaling 3,000 SF, both currently vacant. Corner position on a high-traffic, high-visibility stretch of Cicero Ave at Wellington. In-place residential income today with significant value-add opportunity through cosmetic unit renovation and build-out/lease-up of the retail space. Estimated renovation budget of $235,000 to achieve the pro forma rents reflected ($15k/Apartment Unit, $100K budget to vanilla box the two commercial units). CAP/GRM are based on the pro forma estimates that reflect an all-in cost of $1,320,000. Units are separately metered. Offering memorandum includes the current rent roll. Pro forma projections are estimates and are not guaranteed. CTA bus service on Cicero Ave with I-90/94 access to downtown and O'Hare.

Features of 2957 N Cicero Avenue

MLS® # 12724119
Price $1,085,000
Bathrooms 0.00
Year Built 1927
Type Commercial Sale
Sub-Type Multi Family 5+
Status Active

Community Information

Address 2957 N Cicero Avenue
Area CHI - Belmont Cragin
City Chicago
County Cook
State IL
Zip Code 60641

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Window Unit(s)
Fireplace No
Has Basement Yes
Basement Unfinished, Concrete, Storage Space

Exterior

Exterior Brick
Roof Rubber
Foundation Brick/Mortar

Additional Information

Days on Market 37
Zoning COMMR
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeTriton Realty Group LLC

Listing Map

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