Four-Unit Residential Income
5402 W 23rd Street Cicero Cicero, IL 60804
5402 W 23rd Street Cicero, Cicero, IL, 60804
$599,900
For Sale
$599,900
Recently rehabbed four-unit building with individual utilities, coin laundry, and a newer 2.5-car garage.
Property Size4,101 SF
Price / SF$146.28
Days on Market21
Property Features for 5402 W 23rd Street Cicero
General Information
- Standard status
- Active
- Size
- 4,101 SF
- Property subtype
- Two to Four Units
Building Details
- Year Built
- 1910
Listing agency
(847) 558-6808
Listed by
Brenda Valdez
(847) 558-6808
Source
Remaxadream
Added: Jul 3 Updated: Jul 22 at 4:06PM Checked: Jul 22 at 4:06PM
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)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.2k | $20.04 |
| − Vacancy | −$6.2k | −$1.50 |
| EGI | $76.0k | $18.54 |
| − OpEx | −$22.8k | −$5.56 |
| NOI | $53.2k | $12.98 |
4,101 SF · lease $20.04/SF/yr · vacancy 7.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
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)
