4747 19Th St Cicero, IL 60804

Property Details for 4747 19Th St

Year built

1970

Lot size

0.24 lot acres

Property type

Commercial real estate

Description

This exceptional 58-unit apartment building, located at 4747 19th Street in Cicero, Illinois, presents a compelling investment opportunity. The property, a fully renovated Class B building constructed in 1970 and extensively updated in 2021, boasts 32,635 net rentable square feet across six stories. The unit mix includes four studios and fifty-four one-bedroom/one-bathroom apartments, currently generating a NOI of $403,492, with a pro-forma NOI of $444,863. The asking price is $6,500,000, representing a current cap rate of 6.21% and a pro-forma cap rate of 6.84%, and a price per unit of $112,069. Significant capital improvements include complete unit renovations with modern finishes, new electrical and plumbing systems, HVAC upgrades, fire sprinklers and alarm systems, modernized elevators, access control, security cameras, and a heated parking garage with 13 spaces, plus an additional 34 exterior parking spaces. The building also features a lounge area, key fob entry, bike room, laundry facilities, and storage lockers. Its prime location offers convenient access to public transportation, including the CTA Pink Line and Metra BNSF Cicero station, and major highways (I-290 and I-55), as well as proximity to Midway International Airport. The property also benefits from an income-producing billboard. This turnkey asset presents a strong potential for rental upside and increased cash flow. The 0.24-acre lot provides ample space for the building and its amenities. This is a stabilized investment with significant upside potential.

Location Insight

City

Cicero

County

Cook

State

Illinois

Longitude

-87.7439996

Latitude

41.8547185