Commercial: Mixed Use - MLS# 12602846
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Description
Turn-key investment opportunity in the heart of Pilsen. Fully rehabbed in 2017, this charming brick building offers seven updated 1-bedroom, 1-bath units plus a street-front retail space for multiple income streams. All units feature 2017+ appliances, individual HVAC, and in-unit stackable washer/dryers-highly desirable for today's renters. Just steps from 18th Street's acclaimed restaurants and nightlife, with easy permitted street parking, the property also sits within walking distance of the CTA Pink Line, bus routes, the Loop, UIC, and the Illinois Medical District. With strong rental demand and appreciation potential in one of Forbes' "Coolest Neighborhoods," this is an opportunity investors will not want to miss.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60608
- Year Built: 1884
- Stories: 3
- Units: 9 units
- # Of Apts: 7
- # Of Dishwashers: 7
- # Of Dryers: 8
- # Of Ranges: 7
- # Of Stores: 2
- # Of Washers: 8
- Approximate Age: New Rehab
- Built Before 1978 (Y/N): Yes
- Cap Rate: 7.24
- Construction Materials: Brick
- Cooling: Central Air
- Directions: Racine to 18th St, property is just south of 18th on east side of Racine.
- Electric Expense: 467
- Expense Year: 2025
- Fire Protection: Fire Extinguisher/s
- Geographic Locale: Chicago West
- Gross Income: 178239
- Gross Rent Multiplier: 10.5
- Gross Scheduled Income: 178239
- Heat/Ventilation: Central Heat/Indiv Controls
- Information: 48-Hr Notice Required
- Insurance Expense: 7504
- Lot Size Square Feet: 2500
- Main Type: Commercial Sale
- Operating Expense: 42577
- Original Rental Price: 71.29
- Property Sub Type: Mixed Use
- Rental Price: 71.29
- Tax Annual Amount: 23003
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat
- Total Actual Rent: 14853
- Total Annual Expense Source: Owner Projection
- Total Monthly Income: 14853
- Trash Expense: 3856
- Water Sewer Expense: 2447
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