1616 W 18th Place
Chicago, IL 60608

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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.

Features

• Property Type: Commercial
• Sub Type: Mixed Use
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60608
• Year Built: 1889
• Sq.Ft.: 6,250 sq ft
• Stories: 2
• Units: 9 units
• Zoning: MULTI
• # Of Apts: 8
• # Of Dishwashers: 8
• # Of Dryers: 2
• # Of Refrigs: 8
• # Of Stores: 1
• # Of Washers: 2
• Approximate Age: Older
• Building Area Total: 6250
• Built Before 1978 (Y/N): Yes
• Cap Rate: 6.88
• Construction Materials: Brick, Concrete
• Directions: PAULINA TO 18TH PL., EAST TO ADDRESS ASHLAND TO 18TH PL., WEST TO ADDRESS
• Electric: Service - 101 to 200 Amps
• Electric Expense: 999
• Foundation Details: Concrete Perimeter
• Fuel Expense: 999
• Geographic Locale: Chicago South
• Gross Income: 999
• Gross Scheduled Income: 999
• Heat/Ventilation: Gas
• Information: 24-Hr Notice Required
• Insurance Expense: 999
• Lot Size Square Feet: 3100
• Main Type: Commercial Sale
• Other Expense: 999
• Ownership Type: Individual
• Property Sub Type: Mixed Use
• Tax Annual Amount: 14888
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Monthly Income: 999
• Township: South Chicago
• Trash Expense: 999
• Washer/Dryer Lsd (Y/N): Yes
• Water Sewer Expense: 999