2345 Central AveCicero, IL 60804

Property Details for 2345 Central Ave

Year built

1915

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.09 AC

Property size (Sq ft)

4,250 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

16-28-112-009

APU

1628112009

Description

This exceptional mixed-use property, located at 2345 S Central Avenue in Cicero, Illinois, presents a compelling investment opportunity. The 4,250 square foot building boasts three separate residential units, each thoughtfully designed with two bedrooms, a living room, a dining room, a kitchen, and a full bathroom. These units offer significant rental income potential, making this a truly diversified investment. Adding to the property's income stream is a thriving storefront currently operating as a bar, situated on the busy Central Avenue corridor. This high-traffic location ensures excellent visibility and accessibility for any business. The property sits on a lot with no acreage specified, but includes a valuable two-car garage, providing additional convenience and potential storage space. The asking price for this lucrative mixed-use property is $580,628. This property is ideal for investors seeking a blend of residential and commercial income, offering a strong return on investment in a desirable location. The existing bar provides immediate cash flow, while the residential units offer long-term rental potential. The property's size and layout provide flexibility for future expansion or adaptation to suit evolving market demands. This is a rare opportunity to acquire a well-established, income-generating property in a vibrant commercial area. Don't miss out on this chance to secure a valuable asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,586,357

  6.5%

  $1,464,330

  7%

  $1,359,735

• Comparable approach

  Method

  Valuation

  Relative Method

  $858,022

  Geo Method

  $858,022

• Alternative Use

  Use

  Valuation

  Residential

  $1,464,330

  Hospitality

  $1,341,318

  Educational

  $1,115,961

  Medical

  $1,154,340

  Retail

  $1,735,939

Location Insight

City

Cicero

County

Cook

State

Illinois

Latitude

41.8475

Longitude

-87.7635

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].