1854 W 18th St
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1854 W 18th St
6 Unit Apartment Building $1,400,000 ($233,333/Unit) 7% Cap Rate Chicago, IL 60608
Investment Highlights
- Six Unit Mixed-Use Property in Popular Pilsen Neighborhood
- Capital Improvements Include a Newer Roof, Electric, Plumbing, and HVAC Systems
- Large Unit Mix Featuring Three (3) 2Bd/1Ba Units and Two (2) 3Bd/3Ba Units
- Gut Rehabbed Units with High-End Finishes
- Walking Distance to 18th Pink Line L Station and Western Avenue Metra Station
Executive Summary
Essex Realty Group, Inc. has been exclusively engaged to market for sale 1854 W 18th Street, a six (6) unit mixed-use property located in Chicago's popular Pilsen Neighborhood. The property is located just off the corner of 18th and Wolcott right across the street from Harrison Park and is within walking distance to many different restaurants and shops.
The building consists of (1) Retail, (3) 2Bd/1Ba, and (2) 3Bd/3Ba units which were all gut rehabbed in 2016. The units have high end finishes featuring hardwood floors, granite counter tops, stainless steel appliances, luxury bathrooms, and in-unit laundry. Capital improvements include a new tear off roof, 600 AMP electric service, plumbing including a new water main, HVAC systems, a new 4th floor addition, along with rear decks.
Investors have the opportunity to acquire a newly renovated property in a great location of Pilsen.
The building consists of (1) Retail, (3) 2Bd/1Ba, and (2) 3Bd/3Ba units which were all gut rehabbed in 2016. The units have high end finishes featuring hardwood floors, granite counter tops, stainless steel appliances, luxury bathrooms, and in-unit laundry. Capital improvements include a new tear off roof, 600 AMP electric service, plumbing including a new water main, HVAC systems, a new 4th floor addition, along with rear decks.
Investors have the opportunity to acquire a newly renovated property in a great location of Pilsen.
Property Facts
| Price | $1,400,000 | Building Class | C |
| Price Per Unit | $233,333 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 6,810 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1897/2016 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,400,000 |
| Price Per Unit | $233,333 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 6,810 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1897/2016 |
| Parking Ratio | 0.29/1,000 SF |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Security System
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Deck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 600 |
| 2+1 | 3 | - | 800 |
| 3+3 | 2 | - | 1,250 - 1,450 |
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Walk Score ®
Walker's Paradise (90)
Bike Score ®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 17-19-405-027-0000 | Improvements Assessment | $41,457 |
| Land Assessment | $9,000 | Total Assessment | $50,457 |
PROPERTY TAXES
Parcel Number
17-19-405-027-0000
Land Assessment
$9,000
Improvements Assessment
$41,457
Total Assessment
$50,457
zoning
| Zoning Code | B3-2 (Mixed-Use Commercial/Residential Building) |
| B3-2 (Mixed-Use Commercial/Residential Building) |
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Anthony Citriglia -
Mariano Mollo -
Will Crossen -
Essex Realty Group
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1854 W 18th St
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