1000 Cicero Ave Chicago, IL 60651-3201

Property Details for 1000 Cicero Ave

Year built

1917

Lot size

0.13 lot acres

Property size

2,400 SF

Property type

Retail residential properties

APN

16-04-414-035

APU

1604414035

Description

This exceptional mixed-use building presents a compelling investment opportunity in Chicago's vibrant Cook County. Boasting 10,000 square feet of space across two stories, this fee-simple property features two newly renovated commercial units – a 1100 sq ft corner store and a 900 sq ft restaurant, both fully equipped with modern amenities including secure entrances, basement storage, and updated HVAC systems. The restaurant unit includes a 10-foot hood. The building also houses six residential units: one 3-bedroom apartment and five 2-bedroom apartments. Recent renovations (2018-2024) encompass a new roof (front half), brickwork, tuckpointing, lintels, gutters, mostly new windows, a refurbished boiler, and updated plumbing and electrical systems (200 AMP service). The property sits on a 5,828 sq ft lot in a high-traffic area with approximately 30,000 cars passing daily, offering exceptional visibility. The C1-1 zoning allows for a variety of uses. The building benefits from three pylon sign mounts and a large south-facing advertising wall. Currently, the property has a 75% occupancy rate, with an occupancy date of October 1, 2024. The pro-forma NOI is $76,204, resulting in a pro-forma cap rate of 12.72%. The asking price is $599,000, or $74,875 per unit, and $59.90 per square foot. The property is conveniently located near Ronald McNair Elementary School, with easy access to major roadways including the 290 and North Avenue, and is a short drive to the Green, Blue, and I-290 lines. This is an owner-user opportunity with significant upside potential.