1616 West 18th Place, Chicago, IL

$1,549,000

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About 1616 West 18th Place

Strauss Realty, Ltd. is pleased to present 1616 W. 18th Place, a fully leased 9-unit mixed-use building (8 residential , 1 commercial unit) located in Pilsen. The property features eight residential apartments (5) 1BD/1BA, (2) 2BD/1BA, and (1) 3BD/1BA, all leased on gross terms for simplified management. A 750 SF ground-floor commercial storefront is currently available for lease, with a letter of intent already received, providing immediate value-add potential. The building spans approximately 6,250 square feet and is offered at a 6.88% capitalization rate based on current net operating income of $106,561. With stable residential income and upside through commercial lease-up, this asset offers strong cash flow and long-term growth in a high-demand market. Conveniently located just half a block from Ashland and 18th Street, 2 blocks from the CTA Pink Line, and minutes from I-90/94 and I-55. The Pilsen neighborhood continues to see steady demand from both residents and small businesses.

Features of 1616 West 18th Place

MLS® # 12439393
Price $1,549,000
Bathrooms 0.00
Acres 0.00
Year Built 1889
Type Commercial Sale
Sub-Type Mixed Use
Status Active

Community Information

Address 1616 West 18th Place
Area CHI - Lower West Side
City Chicago
County Cook
State IL
Zip Code 60608

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling None
Fireplace No
Has Basement No

Exterior

Exterior Brick, Concrete
Foundation Concrete Perimeter

Additional Information

Days on Market 75
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeStrauss Realty Ltd
Contact Info773-736-3600

Listing Map

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