Investor · Oak Park, IL · Member since 2014 · 316 posts · 150 votes
Is anyone familiar with Cicero, Illinois as a place to purchase property? I live a mile from there in Oak Park. The property is priced a fraction of prices in Oak Park, and Cicero is accessible easily from downtown by train. I am not sure if the property values are going to go up or down, relative to other areas. How would the cash flow be, and the ability to obtain manageable tenants? I am considering single family to 12 flats with their respective balance sheets and management challenges. School quality may be a factor. I know it has changed in the last 30 years, when I stayed their briefly. Many of the original groups have left to move further out. I am looking at the area relative to neighbors Berwyn and Forest Park.
I work in the Cicero area. Cicero has a bit of a reputation, although it can be a decent rental market. Just be careful though because there are some tougher/more transient areas.
There are some nicer areas of Cicero for sure. Stay south and West for the best parts. Pm me if you want more info. I live in Riverside and am I the Oak Park area all the time
Cicero also is very tough on repairs. Be prepared to do full guts under permit meaning have your ducks in a row before jumping into a purchase or realize additional holding costs on the delays.
Any more details on Cicero? Any places to avoid? I am in oak park, and am looking to get a 2 flat closeby that is < 200k are there other places like cicero and berwyn that are worth looking into