2120 Cicero Ave Cicero, IL 60804-2525

Property Details for 2120 Cicero Ave

Year built

1916

Construction

FRAME

Lot size

0.07 lot acres

Property size

3,130 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

16-21-431-019

APU

1621431019

Description

This exceptional 1.7-acre mixed-use portfolio in Cicero, IL, presents a compelling investment opportunity. The property comprises two addresses: 2100-2124 S Cicero Ave and 2101-2125 S Cicero Ave. The first location features a well-established Mexican restaurant (30+ years in operation), including its fixtures, furniture, and equipment (FF&E), and liquor license, along with five apartments (one two-bedroom/one-bath and four three-bedroom/one-bath units) and seven additional retail spaces. The second location is a large, gated parking lot offering 107 spaces. The entire portfolio boasts 152 parking spaces, including a two-car garage. Individual HVAC systems and an outdoor entertainment area enhance the property's appeal. The buildings, constructed in 1916 and 1973, are situated on a C-2 Central Commercial zoned lot, offering flexibility for redevelopment. The portfolio's prime location along Cicero Avenue (Highway 50), a major thoroughfare, and its adjacency to the Cicero CTA Pink Line make it ideal for a transit-oriented development (TOD). With a total of 37,082 square feet, 22,295 square feet of net rentable space, and 12 units, the property currently enjoys 91.66% occupancy, generating a NOI of $315,656 and a pro-forma NOI of $335,627. The asking price is $4,500,000, representing a cap rate of 7.01% and a pro-forma cap rate of 7.46%. The property's strong cash flow, redevelopment potential, and strategic location make it an attractive investment for owner-users seeking redevelopment opportunities. The portfolio may be purchased as a whole or individually. The property offers 300 feet of frontage along Cicero Avenue, with high daily traffic volume (38,000 cars/day). This is a rare chance to acquire a significant mixed-use asset in a growing Chicago suburb with over 818,000 residents within a 5-mile radius and convenient access to I-290 and I-55.