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5138 W 16th St 8,200 SF Industrial Building Cicero, IL 60804 $75,000 ($9.15/SF)
INVESTMENT HIGHLIGHTS
- This property is offered for sale by the Cook County Land Bank Authority - see the information below for key differences from a traditional sale.
- Desirable features include an 18-foot clear height, a drive-in dock, and a security system for 24-hour access.
- This spacious warehouse totals 8,200 SF on a 0.19 acre lot with M-1 zoning, providing an ideal solution for wholesale or warehousing businesses.
- A prime location just one mile off Interstate 290 and 15 minutes from Downtown Chicago supports easy movement of goods around the greater market.
EXECUTIVE SUMMARY
This property is being offered for sale by the Cook County Land Bank Authority https://www.cookcountylandbank.org/.
This is not a traditional sale. The difference is that interested parties must apply on the CCLBA Website prior to touring the property. You will be vetted for outstanding Cook County Real Estate Taxes, Judgments, and Liens.
Once approved to tour, it is highly recommended that you bring a contractor with you because these properties have typically been vacant for several years and need substantial rehabilitation. You will need a contractor’s estimate to bring the property to an occupancy permit. You will need a letter or email of support from the Village or City. You will need to show the CCBA funds to acquire and rehab the property.
The Real Estate taxes on these properties are typically very high on a per-foot basis. You will need a strategy to address this. Contact your Commercial Real Estate Tax Attorney to discuss.
Buying properties from the CCLBA is similar to buying properties at below foreclosure pricing. Buyers pay their own brokers directly.
This is not a traditional sale. The difference is that interested parties must apply on the CCLBA Website prior to touring the property. You will be vetted for outstanding Cook County Real Estate Taxes, Judgments, and Liens.
Once approved to tour, it is highly recommended that you bring a contractor with you because these properties have typically been vacant for several years and need substantial rehabilitation. You will need a contractor’s estimate to bring the property to an occupancy permit. You will need a letter or email of support from the Village or City. You will need to show the CCBA funds to acquire and rehab the property.
The Real Estate taxes on these properties are typically very high on a per-foot basis. You will need a strategy to address this. Contact your Commercial Real Estate Tax Attorney to discuss.
Buying properties from the CCLBA is similar to buying properties at below foreclosure pricing. Buyers pay their own brokers directly.
PROPERTY FACTS Under Contract
| Price | $75,000 | Rentable Building Area | 8,200 SF |
| Price Per SF | $9.15 | No. Stories | 2 |
| Sale Type | Investment or Owner User | Year Built | 1970 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Ratio | 0.49/1,000 SF |
| Building Class | C | Clear Ceiling Height | 18’ |
| Lot Size | 0.19 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | M-1 - Industrial - manufacturing and warehousing | ||
| Price | $75,000 |
| Price Per SF | $9.15 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.19 AC |
| Rentable Building Area | 8,200 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Tenancy | Single |
| Parking Ratio | 0.49/1,000 SF |
| Clear Ceiling Height | 18’ |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | M-1 - Industrial - manufacturing and warehousing |
AMENITIES
- 24 Hour Access
- Security System
- Signage
- Fluorescent Lighting
UTILITIES
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
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Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 16-21-224-028-0000 | Improvements Assessment | $72,995 |
| Land Assessment | $20,410 | Total Assessment | $93,405 |
PROPERTY TAXES
Parcel Number
16-21-224-028-0000
Land Assessment
$20,410
Improvements Assessment
$72,995
Total Assessment
$93,405
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5138 W 16th St
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