1240 S 55th Ct

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Address: 1240 S 55th Ct, Cicero, Illinois, US
Created date: November 9, 2023
Date last updated: December 4, 2023

Property Description

This is a well-maintained, fully-occupied, and updated 6-unit multifamily offering located in Cicero, a western suburb of Chicago. The recent renovations include: all apartments were rehabbed under the current management; most of the units have granite tops; the roof was replaced 6 years ago; baseboard heating. The landscaping and snow removal are being conducted on ongoing basis by the current owner. The property is very well run with an excellent collection history. Each tenant is thoroughly screened and well documented with written lease agreements. There is one tenant who is under Section 8 Program. Tenants pay for electricity, landlord pays for other expenses: heat, water, gas, building insurance, real estate taxes, and routine maintenance. Flexible rent structure provides a buyer the opportunity to renew or re-tenant at higher rental rates. There is market supported upside in rents ranging from $50-$150 per unit; many through simple renewal increases. The property is located approximately 7 miles west of downtown Chicago and 5 miles north of Chicago Midway Airport. It's situated close to freeway (I-290), shopping, & downtown. The property has 3 assigned parking spaces in back and plenty of free street parking available.

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Multifamily type: Apartments
Price: $525,000
Year Built: 1961
Lot Size: 3,750.00 Sq ft
Opportunity Zone: No
Address: 1240 S 55th Ct, Cicero, IL 60804, USA
Provided by:

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