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ForumsArrowIllinois Real Estate Q&A Discussion ForumArrowCicero 4 units on the market, input?
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Cicero 4 units on the market, input?

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user profile avatar
  • Posts 18
  • Votes 4

Dan S.
Rental Property Investor from oak park, il

posted about 3 years ago

For those Cicero investors I'd appreciate if you can share your input on places on the market now

  • https://www.redfin.com/IL/Cicero/1636-50th-Ct-6080...
    • Bit electrical issues.. BX, cloth wires.. the I've been talking to the electrical inspector and this place will likely need all new electric (!!!)
    • Just has 2 car parking, not covered.
    • Needs a little cosmetic work too (painting and such
    • some bath ceilings are ripped out indicating some leaks... 
  • https://www.redfin.com/IL/Cicero/1801-S-56th-Ct-60...
    • Its a nice place, but 
    • Expensive for just a 3 unit.. like.. nearly 100k more then I wanna pay for a 3 unit. 
    • I just dont see any profit here
  • https://www.redfin.com/IL/Cicero/1437-S-49th-Ct-60...
    • At over 200, there isnt that much profit,
    • The units are a little hacked together.. (the one unit with a/c has it hanging really low..)
    • Not in a great part of Cicero
    • Small units
    • Needs some electrical work..
  • https://www.redfin.com/IL/Cicero/1442-S-Cicero-Ave...
    • Not in a great part of Cicero
    • Rents seem low.. in this area of cicero with small units, & only 2 car parking it may not be possible to get higher rents
    • At over 200, there isnt that much profit, 
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  • Posts 1.6K
  • Votes 950

Chris T.
Investor from Downers Grove, IL

replied about 3 years ago

@Dan S.

I've a flip in cicero, and boy. it is very rough. 

Be prepared for bureaucracy and extended holding costs in Cicero if you decide to invest there. I would assume if their inspectors are tough with flips, it is the same with rentals. 

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