1616 W 18th PL Chicago, IL 60608

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 6,250 sqft

Price per Sqft $247

MLS Listing ID 12439393

Year Built 1889

Annual Tax Amount $14,888

Tax Year 2023

Lot Dimensions 25 X 124

Property Sub-Type Mixed Use

Property 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.

Location

State IL

County Cook

Area Chi - Lower West Side

Zoning MULTI

Interior

Cooling None

Fireplace N

Building

Dwelling Type Mixed Use

Structure Type Brick,Concrete

Listed by Aaron Strauss of Strauss Realty Ltd

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106