$1,549,000

1616 W 18th Place, Chicago, IL 60608

  • 6,250 sqft
  • Property Icon other
  • Property Year Built Icon Built in 1889
  • Property Lot Size Icon3,049sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $248/sqft
  • Property List Date Icon Listed 4 months ago

Property Description

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.

Listing Status:
Active
Listing Office:
Strauss Realty Ltd : 847-704-0633
Listing Agent:
Aaron Strauss : 847-704-0633
MLS ID:
12439393
  • A/C: None
  • Fireplace: Fireplaces: 0
  • General: Concrete Perimeter
  • Road/Access: City Street
  • Originating MLS: mred
  • County: Cook
  • Zoning: MULTI17194110360000
  • Utilities: Service - 101 to 200 Amps
  • Source: mred

This listing courtesy of Aaron Strauss, Strauss Realty Ltd

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

C

Cooper Elementary Academy

1624 W 19th St, Chicago, IL, 60608

Grades PK-5

0.07 miles away

A

Acero Charter School Network - Bartolome de las Casas

1641 W 16th St, Chicago, IL, 60608

Grades KG-8

0.17 miles away

J

Juarez Community Academy High School

1450 W Cermak Rd, Chicago, IL, 60608

Grades 9-12

0.32 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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