Turnkey 18-Unit Building with Development Upside & Seller Financing

About this listing

DESCRIPTION

The Proano Commercial Group is proud to present 5701 W. Roosevelt Road in Cicero, IL—an 18-unit mixed-use building in a high-demand area, offering strong cash flow and long-term potential. The 15,547 SF masonry property features two commercial storefronts and 16 residential units (studios, one- and two-bedrooms), with 90% of the units already remodeled. High occupancy, long-term tenants, and separate utilities make for efficient operations. An adjacent vacant lot is included, offering future development potential. Seller financing is now available with an 18-month interest-only bridge loan at 6.75%, secured by the property, with a minimum 25% down payment and no prepayment penalty. This structure provides buyers with positive leverage and a window to refinance once rates shift or stabilize, while keeping carry costs low. Located just one mile from I-290, this is a prime opportunity to acquire a stabilized asset with upside and flexible terms.

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 – 18-month I/O at 6.5%, 25% 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.