Four-Unit Residential Income
For Sale
$599,900
Pending
5402 W 23rd Street Cicero, Cicero, IL 60804
Recently rehabbed four-unit building with individual utilities, coin laundry, and a newer 2.5-car garage.
Property Size4,101 SF
Days on Market95
Property Features for 5402 W 23rd Street Cicero
General Information
Standard status
Pending
Size
4,101 SF
Total Parking Spaces
2
Property subtype
Two to Four Units
Zoning
MULTI
Taxes and HOA fees
Annual Taxes
$10,156
Amenities
6
10
4
2
Lake Michigan,Public
30X125
0.08
No
Water Heater-Gas
No Garage,Yes,Garage Owned,Detached,Garage
Concrete Perimeter
Building Details
Year Built
1910
Listed By:
Brenda Valdez
(847) 558-6808
Source:
Remaxadream
Added: Jul 3
Changed: Sep 10
Last Checked: Oct 4 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brenda Valdez
Investment Insights
Based on property information with market context.
This four-unit residential income property was recently rehabbed in 2018 and contains four separate apartments. The lower units (1A and 1B) each feature two bedrooms, a living/dining room, a kitchen, and one bathroom. The top units (2A and 2B) are duplexed with the attic, providing additional bedroom space, a 1/2 bath, and a sitting room, for a total of three beds and 1.5 baths per unit.
Each unit has its own individual gas meter and electric meter, along with an A/C unit. The property also includes coin laundry and a newer 2.5-car garage.
The building is described as conveniently located within walking distance to Cermak Rd, schools, transportation, and nearby businesses.
Each unit has its own individual gas meter and electric meter, along with an A/C unit. The property also includes coin laundry and a newer 2.5-car garage.
The building is described as conveniently located within walking distance to Cermak Rd, schools, transportation, and nearby businesses.
Key Highlights
- Recently rehabbed 4‑unit building (2018) in Cicero with 10 total bedrooms and 6 total baths
- Unit mix: two lower units (1A & 1B) with 2 bedrooms, living/dining, kitchen, and 1 full bath
- Top duplex units (2A & 2B) include an attic space for an additional bedroom, 1/2 bath, and sitting room (3 beds total, 1.5 baths)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,214
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,064,280
$1.1M
Cap Rate 7%
$760,200
$760.2K
Cap Rate 9%
$591,267
$591.3K
Market Conditions
NOI Build-Up for 4,101 SF
Gross rent
$82.2K $20.04/SF
− Vacancy
−$6.2K −$1.50/SF
EGI
$76.0K $18.54/SF
− OpEx
−$22.8K −$5.56/SF
NOI
$53.2K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,064,280
Cap Rate 7%
$760,200
Cap Rate 9%
$591,267
Alternative Uses
Best Use
Multifamily LT 5
$760.2K
$665.2K – $886.9K
NOI $53,214 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$679.6K
$594.7K – $792.9K
NOI $47,575 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,112 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 60804, IL
85,673
Population
26,738
Households
3.2
Avg Household Size
32
Median Age
11%
College-Educated
68%
High-School Grad
7.1 sq mi
ZIP Area
12,067
Density / Sq Mi
$68,548
Median Household Income
$36,786
Median Earnings
$1,121
Median Rent
$236,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently rehabbed four-unit building with individual utilities, coin laundry, and a newer 2.5-car garage.
Where is this quadplex located?
The property is located at 5402 W 23rd Street Cicero Cicero, IL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Recently rehabbed 4‑unit building (2018) in Cicero with 10 total bedrooms and 6 total baths; Unit mix: two lower units (1A & 1B) with 2 bedrooms, living/dining, kitchen, and 1 full bath; Top duplex units (2A & 2B) include an attic space for an additional bedroom, 1/2 bath, and sitting room (3 beds total, 1.5 baths)
