965 W 18th Street
Chicago, IL 60608

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Description

Fully Renovated 5-Unit Masonry Brick Mixed-Use Building Located on Pilsen's 18th Street Retail Corridor. The property includes (2) 3 bed, 2 bath residential apartments plus (3) built-out commercial units, offering strong in-place income in a prime Chicago neighborhood. The building was gut renovated in 2017-stripped to the floor joists and completely rebuilt, featuring updated interiors throughout. The residential units offer modern kitchens with stainless steel appliances, exposed brick accents, hardwood flooring, and excellent natural light. Current ownership has completed extensive additional capital improvements, including a new coach house roof, parapet wall reconstruction, Hardy board siding, masonry updates, replacement of multiple water heaters, added windows and lighting, a Doorbird entry system, and further updates to the residential units. Ownership also oversaw the buildout of all three commercial spaces and secured a new long-term tenant, Vela Spa. Ideally located near UIC, downtown Chicago, Cinespace Film Studios, and some of Pilsen's most popular restaurants, retail, and entertainment. Easy access to Metra and CTA transit. The property currently generates $149,352 in annual income, providing investors with a turnkey opportunity in one of Chicago's most sought-after mixed-use corridors.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60608
• Year Built: 1885
• Sq.Ft.: 6,025 sq ft
• Stories: 3
• Units: 5 units
• Zoning: COMMR
• # Of Dishwashers: 2
• # Of Disposals: 2
• # Of Dryers: 2
• # Of Ranges: 2
• # Of Refrigs: 2
• # Of Washers: 2
• Approximate Age: New Rehab
• Building Area Total: 6025
• Built Before 1978 (Y/N): Yes
• Cap Rate: 7
• Construction Materials: Brick
• Cooling: Central Air
• Directions: 18th Street & Halsted, West on 18th Street to 965 on the South Side of the Street
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 600
• Electric Expense Source: Actual
• Expense Year: 2025
• Fire Protection: Fire Extinguisher/s
• Fuel Expense Source: Actual
• Gross Income: 149352
• Gross Rent Multiplier: 10.7
• Gross Scheduled Income: 149352
• Heat/Ventilation: Forced Air, Gas
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 6264
• Insurance Expense Source: Actual
• Lot Size Square Feet: 2500
• Main Type: Commercial Sale
• Operating Expense: 29414
• Other Expense Source: Actual
• Tax Annual Amount: 18194.61
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity, Heat, Varies by Tenant
• Total Annual Expense Source: Actual
• Total Monthly Income: 12446
• Township: West Chicago
• Trash Expense Source: Actual
• Water Expense Source: Actual
• Water Sewer Expense: 1200