1616 W 18th Place Chicago, IL 60608
$1,549,000
Active / MLS# 12439393 / Commercial - Business / Chicago
0
Beds
6250
SqFt
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.
Baird & Warner New Client Care Team Agent Cell: 312.847.5702 Email
Property Details
Property Type: Commercial - Business
Cooling: None
Lot Size: 0.07 Acres
Stories: 2.0
Taxes: $14,888
Year Built: 1889
Feature Descriptions
Electric: Service - 101 to 200 Amps
Exterior: Brick, Concrete
Fire Protection: Other
Foundation: Concrete Perimeter
Frontage Type: City Street
HVAC: Gas
Lot Dimensions: 25 X 124
Parcel#: 17194110360000
Potential Use: Multi-Family
Tenant Pays: Electricity, Heat
Units: 9
Location
See details and scored characteristics about this location.
Listing Office: Strauss Realty Ltd
Listing Office Phone: 773-736-3600
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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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