Michael Mintz Sells a 38 Unit Apartment Building in Cicero for $1.73 Million

Millennium Properties R/E, a premiere boutique brokerage and property management company, announced that it recently brokered the sale of a fully stabilized, 38 unit apartment complex in the heart of Cicero for $1.73 million. Michael Mintz, a vice president at Millennium Properties, was the sole broker on the deal.

Close to Cermak Rd. and the CTA station, 1930 S. Cicero Ave. features a mix of 32 two-bedroom apartments and six one-bedroom units. The building was 95% occupied at the time of the sale, with a historically high occupancy rate and many long-term tenants. The new owners were attracted to a stabilized investment with strong cash flow and potential to add value in the long-term.

“Apartments and multi-family buildings remain a very desirable asset class, even as the market enters its eighth year of continuous growth,” said Mr. Mintz. “As a stabilized building with upside potential, this building received multiple strong offers from both local and national investors.”