Seller's Agent in 2024
Josue Duarte
Duarte Realty Company
(708) 589-5855
43 in this area
364 Total Sales
5000 W 16th St Cicero, IL 60804
12
Beds
9
Baths
10,000
Sq Ft
6,000
Sq Ft Lot
About This Home
As of August 2024This is the opportunity you've been waiting for! Massive VALUE ADD - 11 UNIT opportunity in an ideal and highly dense business corridor in a prime Cicero location! 6 commercial units and 5 fully occupied cash-flowing residential apartments. This is your opportunity to build equity in a highly appreciating area! Package deal! Owner is retiring after 40 years! Rare opportunity! Sale includes a fully operating and profitable convenience store. Room to increase profits by improving and expanding convenience store, or simply lease out! First floor can be expanded for large businesses, or keep it divided for multiple streams of income. Perfect location for businesses on highly visible corner. Cicero is a highly appreciating market with a new Amazon warehouse and other major companies in the immediate area. This particular pocket is perfect for a landlord and for businesses due to its central location in an incredibly dense residential area. Vacancy rates are incredibly low. High rental market due to low inventory! Current owner did well off of his convenience store and so didn't need to rent out commercial units. Ask real estate agent for actual and projected numbers. Potential cap rate of 9-10%. Apartments: 4 bed/2 bath. 3 bed/1bath. 2 x 2 bed/1 bath. 1 bed/1bath. Large building with 100x60 ft exposure on two major streets. Opportunity to take your business to new heights! Schedule your showing before it's gone.
Last Agent to Sell the Property
Duarte Realty Company License #471020983 Listed on: 03/12/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1924
Lot Details
- 6,000 Sq Ft Lot
- Lot Dimensions are 100x60
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Brick Foundation
- Block Foundation
- Concrete Perimeter Foundation
Interior Spaces
- 10,000 Sq Ft Home
- 2-Story Property
- Storage Room
- Monitored
Bedrooms and Bathrooms
- 12 Bedrooms
- 9 Bathrooms
Utilities
- Window Unit Cooling System
- Radiator
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 11 Units
Building Details
- Electric Expense $1,469
- Fuel Expense $9,678
- Insurance Expense $5,367
- Trash Expense $4,255
- Water Sewer Expense $3,515
- Operating Expense $56,284
- Gross Income $89,400
- Net Operating Income $33,116
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 12, 2024
Closed on
Jul 22, 2024
Sold by
Masood Mahmoud J
Bought by
5000 Cicero Llc
Seller's Agent
Josue Duarte
Duarte Realty Company
Buyer's Agent
Michael Savegnago
Legacy Properties, A Sarah Leonard Company
List Price
$599,900
Sold Price
$510,000
Premium/Discount to List
-$89,900
-14.99%
Total Days on Market
44
Views
121
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$5,899
Avg. Annual Appreciation
1.47%
Original Mortgage
$200,000
Outstanding Balance
$68,172
Interest Rate
6.77%
Mortgage Type
Construction
Estimated Equity
$447,727
Purchase Details
Closed on
Jan 20, 2003
Sold by
Masood Ahmad J
Bought by
Masood Mahmoud J
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $510,000 | None Listed On Document | |
| Interfamily Deed Transfer | $150,000 | Chicago Title Insurance Co |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $200,000 | Construction |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/15/2024 08/15/24 | Sold | $510,000 | -15.0% | $51 / Sq Ft |
| 04/26/2024 04/26/24 | Pending | -- | -- | -- |
| 03/12/2024 03/12/24 | For Sale | $599,900 | -- | $60 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $32,549 | $77,111 | $6,406 | $70,705 |
| 2023 | $32,549 | $77,111 | $6,406 | $70,705 |
| 2022 | $32,549 | $74,527 | $8,939 | $65,588 |
| 2021 | $32,170 | $74,526 | $8,938 | $65,588 |
| 2020 | $31,278 | $74,526 | $8,938 | $65,588 |
| 2019 | $19,225 | $39,405 | $5,363 | $34,042 |
| 2018 | $18,732 | $39,405 | $5,363 | $34,042 |
| 2017 | $18,031 | $39,405 | $5,363 | $34,042 |
| 2016 | $17,947 | $37,399 | $4,767 | $32,632 |
| 2015 | $17,734 | $37,399 | $4,767 | $32,632 |
| 2014 | $17,091 | $37,399 | $4,767 | $32,632 |
| 2013 | $17,472 | $42,284 | $4,767 | $37,517 |
Source: Public Records
Agents Affiliated with this Home
-
Josue Duarte
-
Evelyn Riveros
Seller Co-Listing Agent in 2024
Evelyn Riveros
Duarte Realty Company
(708) 589-5855
15 in this area
49 Total Sales
-
Michael Savegnago
M
Buyer's Agent in 2024
Michael Savegnago
Legacy Properties, A Sarah Leonard Company
2 in this area
27 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12002550
APN: 16-21-227-020-0000
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