Cicero, Illinois, offers a diverse range of office properties for sale, making it an attractive investment opportunity for businesses and entrepreneurs. With its rich history and strategic location, Cicero provides a unique blend of amenities, infrastructure, and accessibility that can benefit various types of investments. Office properties in Cicero can represent a range of investments, from small, independent businesses to larger corporations. The town's growing commercial sector, with new mini-malls and large retail stores, as well as the construction of new condominiums, demonstrates its potential for growth and development. Cicero's proximity to Chicago, its transportation options, including the Metra's BNSF Line and the CTA Pink Line, and its diverse population make it an ideal location for businesses. Additionally, the presence of institutions like Morton College and the Cicero Community Park provides a range of amenities that can support businesses and their employees. The town's history, including its connection to aviation and its cultural attractions, such as the St. Mary of Czestochowa church and the Chodl Auditorium, also contribute to its appeal.
Currently, there are 4 office properties for sale in Cicero, offering a range of options for investors. The average price per square foot is $97 USD, with an average size of 28,429 square feet and a largest size of 94,698 square feet. The average cap rate is 7.62%. In addition to office properties, Cicero also offers other types of commercial real estate, including commercial buildings, apartment buildings, shopping centers, and hotels. Commercial buildings in Cicero can provide a range of opportunities for businesses, from retail and office space to industrial and manufacturing facilities. Apartment buildings in Cicero offer a range of options for investors, from small, independent buildings to larger complexes. Shopping centers in Cicero provide a range of retail options, from small, specialty stores to larger, big-box retailers. Hotels in Cicero offer a range of accommodations for visitors and business travelers. Overall, Cicero's diverse range of commercial properties and its strategic location make it an attractive investment opportunity for businesses and entrepreneurs.
What is the average price per square foot for office properties in Cicero?
The average price per square foot for office properties in Cicero is $97 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Cicero, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding higher rental rates.
- Class B office properties offer functional space with standard amenities, often located in decent areas, and are suitable for a wide range of tenants, providing a balance between quality and affordability.
- Class C office properties are usually older, less renovated buildings with limited amenities, often located in less desirable areas, and are typically rented by smaller businesses or startups with limited budgets.
