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5028 31St Pl Cicero, IL 60804

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For Sale
$1,189,000

Six-unit building, renovated, strong rental income.

Property size:
7,250 SF

Property Features for 5028 31St Pl

General Information

Property type
Other commercial real estate
Square Feet
7,250 SF

Building Details

Year Built
1914

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Listing Contact
Victor Postillion

Listing Agency: Skydan Real Estate Sales, LLC Listing Agent: Victor Postillion

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional six-unit multi-family investment property, located at 5028 W 31st Place in Cicero, Illinois, presents a compelling opportunity for discerning investors. Boasting a substantial 7,250 square feet, the property includes a large two-car garage with additional rentable storage spaces. Significant renovations have enhanced the property's value and appeal. Interior updates to all units have been completed since 2016, including a complete gut renovation of the largest unit (a four-bedroom, two-bathroom unit) in 2024. This renovation included the addition of a new full bathroom and a master walk-in closet. Further improvements in 2023 encompassed a complete roof replacement and the installation of new hardy board siding (up to six feet) around the building's perimeter, along with foam board insulation. Ceiling insulation was also added throughout the building in 2023. The property offers two parking spaces and seven storage spaces for rent, generating additional income streams. The owner currently covers water, common electric, and garage electric expenses, while tenants are responsible for their individual gas heat, cooking gas, water heating, and electric. The substantial monthly rental income, coupled with the extensive recent renovations and the generous security deposits held by the owner, makes this a highly attractive investment prospect. The property sits on a 0-acre lot. This is a turnkey investment ready to generate immediate returns.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Cicero
County
Cook
State
Illinois
Longitude
-87.75013
Latitude
41.83592

FAQs

What type of property is this?
Commercial real estate - Six-unit building, renovated, strong rental income.
Where is this commercial real estate located?
The property is located at 5028 31St Pl Cicero, IL.
What is the asking price?
The asking price for this property is $1,189,000.
More about this property
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