1425 W 16th Street, Chicago, IL 60608

• 4 beds |
• 3 baths

Property Description

Exceptional investment opportunity in the heart of Pilsen. This fully renovated, income-producing 3-unit property offers the ideal combination of strong in-place cash flow, modern upgrades, and long-term appreciation potential in one of Chicago's most vibrant neighborhoods. The building is fully occupied with established tenants and operates efficiently with separate utilities. Located just minutes from Downtown, the West Loop, major transportation, restaurants, galleries, nightlife, and continued luxury development throughout Pilsen, this is a rare opportunity to acquire a stabilized asset in a rapidly appreciating market. Ideal for investors seeking a turnkey addition to their portfolio with a cap rate of 6.83. Current rents 2100, 1800, 1650 (below market rent due to long time tenant). 2025 upgrades: Excavation and installation of ~ 1,500 sq ft of private concrete patio with drain tile around entire property. New fencing and rear decking. Front building Unit 1: 1BR/1BA complete remodel with high-end finishes, appliances, central air, and in-unit laundry. Front building Unit 2: In-unit laundry added (2024 complete remodel). Complete tear-off roof replacement, gutters, and downspouts of main building and coach house. Rear coach house: 2BR/1BA complete remodel with high-end finishes, appliances, and new HVAC with central air. High-efficiency spray foam insulation was installed in both basements.

Listing Status:

Active

Data Last Updated:

May 31, 2026 at 6:18PM

Listing Office:

Compass : 773-466-7150

Listing Agent:

Fabiola Mendoza : 708-800-6794

MLS ID:

12658418

Interior

• Basement: UnfinishedExterior EntryFull
• Heating: Natural Gas

Exterior

• Parking: Parking spaces: 0

Location

• Originating MLS: mred
• School District: 299
• County: Cook

Lot

• Zoning: 17203010120000

Utilities

• Water: Lake Michigan
• Sewer: Public Sewer

Financial

• Source: mred
• Ownership: Fee Simple