Retail properties in Cicero, Illinois, offer a unique investment opportunity for those looking to capitalize on the town's growing commercial sector. With a diverse population of approximately 85,000 residents, Cicero provides a stable customer base for retail businesses. Retail properties in Cicero can represent a range of investments, from small storefronts to larger shopping centers, each with its own potential for growth and development. The town's infrastructure, including transportation services provided by Metra's BNSF Line and the CTA Pink Line, as well as multiple Pace and CTA bus routes, makes it an attractive location for businesses and customers alike. Additionally, Cicero is home to Morton College, a public community college that offers a variety of associate degree programs, vocational training, and continuing education courses, providing a skilled workforce for local businesses. The town's geography, with its proximity to Chicago and other surrounding suburbs, also makes it an ideal location for retail properties. Cicero is also home to notable attractions such as the Chodl Auditorium and the Chicagoland Sports Hall of Fame, drawing visitors to the area.
Currently, there are 10 retail properties for sale in Cicero, offering a range of options for investors. The average price per square foot for these properties is $113 USD, with an average size of 12,120 square feet. The largest property available is 38,850 square feet. In addition to retail properties, Cicero also offers shopping centers, restaurants, office properties, and hotels for sale, each with its own unique characteristics and investment potential. For example, shopping centers in Cicero offer a range of retail spaces, from small boutiques to larger anchor stores. Restaurants in the area cater to a diverse population, with a range of cuisines and dining options. Office properties in Cicero provide a professional environment for businesses, with access to amenities such as conference rooms and parking. Hotels in the area offer convenient accommodations for visitors, with easy access to transportation and local attractions. Overall, Cicero's retail properties offer a range of investment opportunities, with a diverse population, growing commercial sector, and convenient location making it an attractive choice for businesses and investors.
What is the average cap rate for retail properties in Cicero?
For investors seeking retail properties in Cicero, it's essential to understand the average cap rate, which currently stands at 6.8%. To better comprehend this metric, it's helpful to read our article on what is a cap rate, which provides an in-depth explanation of this crucial investment concept.
How do location and foot traffic affect retail property values?
In Cicero, Illinois, location and foot traffic play a significant role in determining retail property values. Properties situated near major transportation facilities, such as the BNSF Railway and the CTA Pink Line, and in areas with high foot traffic, like the commercial corridors along Cicero Avenue and 22nd Street, tend to command higher values due to their accessibility and visibility, with an average price per square foot of $113 USD and an average size of 12,120 square feet.
