Cicero is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Cicero are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Cicero are some of the lowest nationally. Cicero apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Cicero.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cicero are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.17% - 5.41% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Cicero.
The city of Cicero in Cook County has a population of 80,796. The median rent in Cook County for a 2 bedroom is $1,417. The median Cicero resident is 31 years old with a yearly income of $25,900. The average family has 4.11 members and a median household income of $49,367. Cicero has a 9% higher education rate. The unemployment rate in Cicero is 5.3%.
50.3% of Cicero households are renters.
28.9% median household income spent on rent.
Bedrooms |
Cook County 1 |
Illinois 2 |
National 2 |
|---|---|---|---|
| Studio | $1,104 | $599 | $737 |
| 1 bedroom | $1,224 | $669 | $813 |
| 2 bedroom | $1,417 | $840 | $1,015 |
| 3 bedroom | $1,799 | $1,100 | $1,325 |
| 4 bedroom | $2,147 | $1,238 | $1,521 |
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