1140 W 18th Street
Chicago, IL 60608

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Description

Pleased to present 1140 W. 18th Place-a fully leased mixed-use property ideally situated in the heart of Chicago's vibrant Pilsen neighborhood. This well-maintained building spans approximately 8,000 square feet and features a ground-floor commercial space currently occupied by restaurant Bobijoa Korean Kitchen, along with six renovated residential units above. The residential mix includes three 2-bedroom/1-bath units and three 1-bedroom/1-bath units, all updated with stainless steel appliances, granite countertops, new flooring, and individual utilities. The property offers an attractive in-place cap rate of 4.89% with a current net operating income of $85,537. All leases are gross, minimizing management responsibilities and ensuring steady cash flow. With full occupancy and modernized interiors, this is a turn-key investment opportunity in a strong rental market. Located just steps from the intersection of 18th Street and Racine Avenue, the property benefits from excellent transit access via the CTA Pink Line, multiple bus routes, and nearby expressways. The area is known for its walkability, strong community presence, and a dynamic mix of local businesses, restaurants, and cultural destinations. This is a rare chance to acquire a stabilized asset in one of Chicago's most in-demand urban neighborhoods.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60608
• Year Built: 1885
• Sq.Ft.: 8,000 sq ft
• Stories: 4
• Units: 7 units
• # Of Apts: 6
• # Of Dishwashers: 6
• # Of Dryers: 1
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Stores: 1
• # Of Tenants: 7
• # Of Washers: 1
• Approximate Age: Older
• Building Area Total: 8000
• Built Before 1978 (Y/N): Yes
• Cap Rate: 4.89
• Construction Materials: Brick
• Cooling: Window Unit(s)
• Directions: Halsted St to 18th St. west 3.5 blocks to propety
• Electric: Separate Meters
• Electric Expense: 999
• Electric Expense Source: Owner Projection
• Fuel Expense Source: Owner Projection
• Geographic Locale: Chicago South
• Gross Income: 999
• Gross Rent Multiplier: 14
• Gross Scheduled Income: 999
• Heat/Ventilation: Gas
• Information: Show-Call Listing Office
• Insurance Expense: 999
• Insurance Expense Source: Owner Projection
• Lot Size Square Feet: 6000
• Main Type: Commercial Sale
• Other Expense: 999
• Other Expense Source: Owner Projection
• Property Sub Type: Mixed Use
• Tax Annual Amount: 13941
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 999
• Township: South Chicago
• Trash Expense: 999
• Trash Expense Source: Owner Projection
• Washer/Dryer Lsd (Y/N): Yes
• Water Expense Source: Owner Projection
• Water Sewer Expense: 999