5000 West 16th Street

Cicero, IL 60804

$599,900
Price
12
Beds
9
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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...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.
  1. Listed by Josue Duarte • Duarte Realty Company
  2. Listed by Cynthia Rodriguez • Duarte Realty Company

Property Details for 5000 West 16th Street

Area
Cicero
Zoning
MULTI

Location

Listing Courtesy of Duarte Realty Company
Add your commute
LISTING UPDATED: 04/22/2024 03:14 PM

Property Details for 5000 West 16th Street

StatusActive
MLS #12002550
Days on Market47
Taxes$32,170 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1924
Lot Size0.14 AC / 6,000 SF
CountyCook County

Location

Listing Courtesy of Duarte Realty Company
Add your commute

Building Information for 5000 West 16th Street

Stories-Residences11Year Built1924Building Size-Lot Size0.14 AC / 6,000 SF

Payment Calculator

$5,955 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,274

Property Taxes

$2,681

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5000 West 16th Street

General Information
Addtl Parking Information
  • Open Parking Spaces: 0.0
Location and General Information
  • Frontage Type: City Street
  • Information: None
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers, Other
  • Heat/Ventilation: Radiators
  • # Of Window/Ac: 5
  • # Of Refrigerators: 5
  • Misc Inside: Storage Inside,Other
  • Num of Baths: 9.0
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Dimensions: 100X60
  • Lot Size Square Feet: 6000.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Alarm Monitored
  • Roof Structure: Flat
  • Foundation Details: Block, Brick/Mortar, Concrete Perimeter
  • Building Area Total: 10000
  • # Of Ranges: 5
Property and Assessments
  • Possible Use: Commercial, Condominium, Office and Research, Multi-Family, Retail, Special Use, Other
  • Buyer Financing: Conventional, Cash, Other, Negotiable
  • Public Document Count: 1
  • Document Date: 2024-04-22T20:13:33
  • Photos Count: 18
Miscellaneous
  • Current Use: Other
  • Location: Central Business District,High Traffic Area
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 11
Income & Expenses
  • Electric Expense: $1,469.00
  • Fuel Expense: $9,678.00
  • Gross Income: $89,400.00
  • Gross Scheduled Income: $130,800.00
  • Insurance Expense: $5,367.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Actual
  • Expense Year: 2022
  • Total Annual Expense Source: Actual
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Net Operating Income Year: 2022
  • Other Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 7450
  • Water Expense Source: Actual
  • Net Operating Income: $33,116.00
  • Operating Expense: $56,284.00
  • Other Expense: $.00
  • Trash Expense: $4,255.00
  • Water Sewer Expense: $3,515.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 4
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 1
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 2
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 1
Unit 5
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 1
Unit 6
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 1
Unit 7
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 1

Property History for 5000 West 16th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5000 West 16th Street

Taxable ValueLand$8,938Additions$65,588Total$74,526
Tax Record2022$32,549 ($2,712 / month)
Home Facts
Stories2Lot Size5,959 SqFtStyleStoresYear Built1924CountyCOOKAPN16-21-227-020

Schools near 5000 West 16th Street

This home is within J S Morton Hsd 201 School District.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 3 to 6
Public - 7 to 8
Public - 10 to 12
Rating
School
Distance
Liberty Elementary School
PublicK to 3

T Roosevelt Elementary School
Public3 to 6

Unity Jr High School
Public7 to 8

J Sterling Morton East High School
Public10 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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5000 West 16th Street is a multi-family home for sale in Cicero, IL 60804. This property was listed for sale on March 12, 2024 by Duarte Realty Company, it's currently listed at $599,900. This listing's school districts are J S Morton Hsd 201 School District, Cicero School District 99. Nearby schools include Liberty Elementary School, T Roosevelt Elementary School and Unity Jr High School. 5000 West 16th Street is a 12-bed, 9-bath, multi-family home built in 1924.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Duarte Realty Company

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.