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Listed by Michael Scanlonof eXp Realty
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Est. payment | /mo
6,025 SqFt
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Est. payment | /mo
6,025 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,025 sqft
MLS Listing ID 12746222
Year Built 1885
Annual Tax Amount $18,194
Tax Year 2024
Lot Dimensions 25 X 100
Property Sub-Type Multi Family 5+
Property 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 $155,112 in annual income, providing investors with a turnkey opportunity in one of Chicago's most sought-after mixed-use corridors at an 8.14% cap rate!
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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