Turnkey 18-Unit Building with Development Upside & Seller Financing

About this listing

DESCRIPTION

The Proano Commercial Group is pleased to present a compelling investment opportunity at 5701 W. Roosevelt Road in Cicero, Illinois. This turnkey 18-unit mixed-use property features two commercial storefronts and sixteen residential apartments, including a mix of studios, one-bedroom, and two-bedroom units. The building is 90% renovated, enjoys high occupancy, and is efficiently operated with separate utilities and individual furnaces. Situated just one mile from I-290 and approximately nine miles from downtown Chicago, the asset sits on a prime corner lot and includes an adjacent vacant parcel, offering a unique opportunity for future development or additional income streams.
What sets this offering apart is the newly available seller financing, structured to provide buyers with maximum flexibility and immediate financial benefit. Under the current terms, a qualified buyer can acquire the property with just a 20% down payment and secure financing at 5.75% interest-only for 24 months, with no prepayment penalty. This structure offers a projected 12.72% cash-on-cash return during the interest-only period, giving investors the advantage of enhanced monthly cash flow and reduced upfront capital requirements. The absence of a prepayment penalty adds further strategic flexibility, allowing the buyer to refinance, reposition, or exit at any time without financial constraints.

HIGHLIGHTS

• Highlights :
  Prime Location – Corner site at Roosevelt Rd. & 57th Ave., 1 mile to I-290, 9 miles to downtown.
  Strong Market – Surrounded by residential, commercial, and mixed-use properties.
  Mixed-Use – 18 units: 2 retail + 16 residential (6 studios, 6 one-beds, 4 two-beds).
  Solid Build – 3-story masonry, 15,547 sq. ft.
  Updated Units – 90% of residential units renovated.
  Reliable Income – Long-term retail tenants, high residential occupancy.
  Efficient Ops – Separate utilities and individual furnaces.
  Seller Financing – 24-month I/O at 5.75%, 20% down, no prepay penalty.
  Expansion Potential – Includes adjacent vacant lot.
  Turnkey Asset –Cash-flowing, low maintenance, strong upside.
  
  
  Capital Improvements:
  2024• Two new hot water heaters installed• Complete remodel of both commercial unit bathrooms
  2023• Roof replaced over 5701 section• Plumbing upgraded (50% copper / 50% galvanized)• Lintels replaced• Tuckpointing completed
  2019• All furnaces replaced (converted from radiator heating system)
  2017• Windows replaced throughout
  
  2014 – Present• Interior renovations completed on most residential units to support market rent growth

AREA

The subject is a corner site located along the south side of Roosevelt Road and the west side of 57th Avenue, to the south of the site is a public alley. Roosevelt Road is a main, two lane east/west thoroughfare in Cicero. Improvements surrounding the subject include commercial, mixed-use buildings, apartment buildings and some single family residential, to the south along 57th Avenue is residential.


Located approximately 9 miles southwest of downtown Chicago the Town of Cicero is primarily a residential community with industrial areas scattered throughout the suburb with commercial improvements located along the major thoroughfares. Neighboring communities include the Chicago neighborhoods of North and South Lawndale to the east, parts of Oak Park and the Chicago neighborhood of Austin to the north, Berwyn to the west and Stickney to the south.