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Multifamily

4747 Place

4747 19th St, Cicero, IL 60804

Listing Price: $7,800,000

Cap Rate
6.16%
Number of Units
58
Occupancy
95.0%
Price/Unit
$134,483
Price/Gross SF
$239.82
Gross SF
32,525

Investment Overview

Marcus & Millichap is pleased to present a 58-unit multifamily property located at 4747 19th Street in Cicero, Illinois. The town of Cicero is located approximately seven miles west of the Chicago Loop and approximately four and one-half miles north of Chicago’s Midway International Airport. The subject property is situated along Highway 50 (South Cicero Avenue), which is approximately one mile south of Interstate 290 (Dwight D. Eisenhower Expressway) and approximately two and one-half miles north of Interstate 55 (Stevenson Expressway). Tenants are able to conveniently commute to and from the city via the CTA Pink Line Cicero and Metra BNSF Cicero station. The property is also conveniently located approximately four and one-half miles to Chicago Midway International Airport. The subject property consists of four studio units (approximately 513 square feet) and 54 one-bedroom / one-bathroom units (approximately 564 square feet). The studio units are currently rented through Airbnb. The property has been completely renovated with modern units as well as capital improvements to the common areas and exterior. A new investor has the opportunity to acquire a recently renovated property in a strong Cicero location with the ability to increase cash flow through rental increases.

Investment Highlights

  • Strong Cicero Location
  • Renovated Apartments
  • Recent Capital Improvements
  • Potential Upside in Rent
  • Conveniently Located Near Midway Airport, Public Transportation and Major Roadways

Exclusively Listed By

Multifamily

4747 Place

Listing Price: $7,800,000

Cap Rate
6.16%
Number of Units
58
Occupancy
95.0%
Price/Unit
$134,483
Price/Gross SF
$239.82
Gross SF
32,525

Investment Highlights

  • Strong Cicero Location
  • Renovated Apartments
  • Recent Capital Improvements
  • Potential Upside in Rent
  • Conveniently Located Near Midway Airport, Public Transportation and Major Roadways

Investment Overview

Marcus & Millichap is pleased to present a 58-unit multifamily property located at 4747 19th Street in Cicero, Illinois. The town of Cicero is located approximately seven miles west of the Chicago Loop and approximately four and one-half miles north of Chicago’s Midway International Airport. The subject property is situated along Highway 50 (South Cicero Avenue), which is approximately one mile south of Interstate 290 (Dwight D. Eisenhower Expressway) and approximately two and one-half miles north of Interstate 55 (Stevenson Expressway). Tenants are able to conveniently commute to and from the city via the CTA Pink Line Cicero and Metra BNSF Cicero station. The property is also conveniently located approximately four and one-half miles to Chicago Midway International Airport. The subject property consists of four studio units (approximately 513 square feet) and 54 one-bedroom / one-bathroom units (approximately 564 square feet). The studio units are currently rented through Airbnb. The property has been completely renovated with modern units as well as capital improvements to the common areas and exterior. A new investor has the opportunity to acquire a recently renovated property in a strong Cicero location with the ability to increase cash flow through rental increases.

Exclusively Listed By

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