1745 Cicero AveChicago, IL 60639

This exceptional mixed-use property at 1745 N Cicero Ave, Chicago, IL 60639, presents a compelling investment opportunity. The 3,100 square foot building, renovated in 2024, boasts a versatile layout ideal for owner-occupancy or investment. The property features two units: a recently rented residential apartment on the second floor commanding $1,500 per month, and a first-floor commercial space nearing completion, also projected to rent for $1,500 per month. The building sits on a 2,980 square foot lot and includes four parking spaces. The property benefits from a favorable C2-1 zoning designation, allowing for a wide range of commercial uses, including liquor stores, warehouses, and auto shops – significantly expanding potential tenant pools and rental income. The asking price is $382,500, representing a price per square foot of $123.39 and a price per unit of $191,250. With a pro-forma NOI of $30,000 and a 7.80% pro-forma cap rate, this property offers strong returns on investment. The current lease is a modified net lease with a remaining term of 0.6 years, commencing June 10, 2024, and expiring June 10, 2025. The property is classified as Class A and is currently 50% occupied. This is a rare opportunity to acquire a recently renovated, mixed-use property in a desirable Chicago location with significant upside potential. The low taxes further enhance the investment appeal.