2119 S 51st Ave

Cicero is one of the most densely populated municipalities in the Chicago metropolitan area, situated directly west of the City of Chicago in Cook County. The town spans approximately six square miles and is home to more than 80,000 residents, making it the largest suburb in Illinois by population density. Cicero benefits from exceptional regional connectivity, with direct access to Interstate 55 and Interstate 290 via Cicero Avenue (Illinois Route 50), a major north-south arterial carrying over 23,300 vehicles per day. The CTA Pink Line provides direct rail service to the downtown Chicago Loop, with the 54th/Cermak terminal station located within the community, while the Metra BNSF Railway offers additional commuter rail service from the Cicero station at 26th Street. The town's commercial base is anchored by the Cermak Road and Cicero Avenue corridors, which are home to a diverse mix of national retailers including Target, AMC Theatres, Burlington, ALDI, Planet Fitness, and Chipotle, among others. Cicero's central location within Chicago's inner-ring suburban market, combined with its affordability relative to adjacent Chicago neighborhoods and strong transit infrastructure, has sustained consistent rental demand across the multifamily housing stock. The community continues to benefit from ongoing public investment, including a streetscape improvement project along Cermak Road funded in part by a grant from the Illinois Department of Commerce and Economic Opportunity, further reinforcing its position as a stable and well-connected submarket for multifamily investment.Essex Realty Group, LLC has been exclusively engaged to market for sale 2119 S 51st Avenue, a well-taken-care-of 13-unit corner brick apartment building located in Cicero, Illinois. The offering presents an opportunity to acquire excellent in-place cash flow with a path to improve it further. In addition, the property is currently in Tier 1 of the AHSAP program offering an investor continued tax relief for a meaningful period of time. The Subject Property features a three-story corner brick building comprised of six (6) studio apartments, three (3) 1 bed / 1 bath apartments, and four (4) 2 bed / 2 bath apartments totaling approximately 11,300 square feet of rentable area. Units throughout the property have been tastefully renovated as they turn with stainless steel appliances and various other kitchen updates. The property also generates supplemental income through an on-site coin-operated laundry facility. 2119 S 51st Avenue is ideally positioned within Cicero's transit-rich corridor, situated directly adjacent to the CTA Pink Line with convenient access to Interstate 55 and Interstate 290. The Cermak Road retail corridor is just minutes from the property and is anchored by the Hawthorne Works Shopping Center, home to national tenants including AMC Theatres, Burlington, ALDI, Chipotle, and Bank of America. ASSUMABLE DEBT AVAILABLE AT 5.42% MATURING IN DECEMBER OF 2034 Freddie Mac SBL Loan Serviced by Lument (I/O until 2030). Contact your Essex broker for more information.