26
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$1,250,000
Est. payment /mo
8,200 SqFt
Price Dropped by $95K
2957 N Cicero AVE Chicago, IL 60641
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Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 8,200 sqft
Price per Sqft $152
MLS Listing ID 12724119
Maintenance Fees $2,200
Year Built 1927
Annual Tax Amount $25,857
Tax Year 2025
Lot Dimensions 50x122
Property Sub-Type Multi Family 5+
Property Description
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 $1,485,000. 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.
Location
State IL
County Cook
Area Chi - Belmont Cragin
Zoning COMMR
Rooms
Basement Unfinished, Concrete, Storage Space
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Utilities Available Water Available
Roof Type Rubber
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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Listed by James Thompson of Triton Realty Group LLC
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