Listing 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.