5705 W Roosevelt Rd - Apartments FOR SALE


Cicero, IL 60804
$2,040,000 USD
312-860-4043
5705 W Roosevelt Rd, Cicero, IL for Sale
$2,040,000 USD
Apartments - FOR SALE
1/26
null | 7.14% Cap Rate

5705 W Roosevelt Rd
Cicero, IL 60804


HIGHLIGHTS

  • Prime Location – High-demand area with strong rental potential.
  • Updated Units – 90% of residential units renovated, minimizing future costs.
  • Efficient Operations – Separate utilities & individual furnaces for each unit.
  • Great Accessibility – Just 1 mile from I-290, minutes to downtown Chicago.
  • Stable Income – Long-term retail tenants & high residential occupancy.
  • Seller Financing- 5.75% Interest only, 24 Months, No Pre Payment, 12.72% Cash on Cash for the I/O period

OVERVIEW

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. Located just one mile from I-290 and approximately 9 miles southwest of downtown Chicago, this prime corner site sits at the intersection of Roosevelt Road and 57th Avenue in Cicero. The property fronts Roosevelt Road, a major two-lane east/west thoroughfare, with a public alley to the south. The immediate area features a diverse mix of commercial and mixed-use buildings, apartment complexes, and single-family homes—particularly along 57th Avenue. Cicero itself is a predominantly residential suburb with commercial corridors and scattered industrial areas, bordered by North and South Lawndale to the east, Oak Park and Austin to the north, Berwyn to the west, and Stickney to the south. This is a rare opportunity to acquire a stabilized asset in a vibrant, well-connected urban-suburban setting with strong surrounding infrastructure. 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. 12.31% Cash on Cash 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 - Tuck-pointing 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

FOR SALE DETAILS

PRICE

$2,040,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

18

PRICE/UNIT

$113,333

CAP RATE

7.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seller Financing I 12.72% Cash on Cash

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

Roosevelt Road T Transit

APN/PARCEL ID

16-20-205-006-0000,16-20-205-007-0000

ASK ABOUT THIS PROPERTY

Paul ProanoColdwell Banker Commercial RealtyMore Info
312-860-4043

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Paul ProanoColdwell Banker Commercial RealtyMore Info
312-860-4043

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.