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Mixed-Use

1167 W 18th St

1167 W 18th St, Chicago, IL 60608

Listing Price: $1,700,000

Cap Rate
6.23%
Number of Units
6
Occupancy
97.0%
Price/Unit
$283,333
Price/Gross SF
$251.85
Gross SF
6,750

Investment Overview

Marcus & Millichap is pleased to present this mixed-use real estate opportunity in the Pilsen neighborhood of Chicago, positioned along the 18th street retail corridor. The subject property of 1167 W 18th St is located 3.1 miles south of Chicago’s Downtown Loop area, 1.3 miles west of the Kennedy Expressway, 0.2 miles east of the CTA’s 18th Street Pink Line train station, and 500 feet from the CTA’s Ashland and 18th Street bus 9 & X9 stops. The unit mix for the subject property consists of two 1 bed/1 bath units, two 2 bed/1 bath units, two 3 bed/1bath units and one storefront. The property features six parking spots in rear for additional income.
According to Forbes, Pilsen is one of the “12 coolest neighborhoods in the world” and this is one of the best opportunities to own right in the very heart of it. One walk down 18th St and you’ll see
offbeat vintage shops, independent coffee houses and quaint cafes which fill the center of this neighborhood. Notice the “Bohemian Baroque” flair expressed in buildings architecture and colorful murals that celebrate the neighborhood’s culture. New restaurants coming in seemingly every month attract more and more people to this exciting neighborhood.

Investment Highlights

  • Value add opportunity in Pilsen | Irreplaceable location on 18th Street
  • Electric was updated 5-7 years ago with circuit breakers in each unit
  • Liquor Store pays for its own insurance, heat, electricity, water and repairs and has 2% annual rental increases.
  • Individual HVAC's in each unit. Plumbing is a mixture of copper and galvanized. Roof is silvercoated every 2 years
  • Six parking spaces behind the property
  • Two rehabbed 3 bedroom units

Exclusively Listed By

Mixed-Use

1167 W 18th St

Listing Price: $1,700,000

Cap Rate
6.23%
Number of Units
6
Occupancy
97.0%
Price/Unit
$283,333
Price/Gross SF
$251.85
Gross SF
6,750

Investment Highlights

  • Value add opportunity in Pilsen | Irreplaceable location on 18th Street
  • Electric was updated 5-7 years ago with circuit breakers in each unit
  • Liquor Store pays for its own insurance, heat, electricity, water and repairs and has 2% annual rental increases.
  • Individual HVAC's in each unit. Plumbing is a mixture of copper and galvanized. Roof is silvercoated every 2 years
  • Six parking spaces behind the property
  • Two rehabbed 3 bedroom units

Investment Overview

Marcus & Millichap is pleased to present this mixed-use real estate opportunity in the Pilsen neighborhood of Chicago, positioned along the 18th street retail corridor. The subject property of 1167 W 18th St is located 3.1 miles south of Chicago’s Downtown Loop area, 1.3 miles west of the Kennedy Expressway, 0.2 miles east of the CTA’s 18th Street Pink Line train station, and 500 feet from the CTA’s Ashland and 18th Street bus 9 & X9 stops. The unit mix for the subject property consists of two 1 bed/1 bath units, two 2 bed/1 bath units, two 3 bed/1bath units and one storefront. The property features six parking spots in rear for additional income. According to Forbes, Pilsen is one of the “12 coolest neighborhoods in the world” and this is one of the best opportunities to own right in the very heart of it. One walk down 18th St and you’ll see offbeat vintage shops, independent coffee houses and quaint cafes which fill the center of this neighborhood. Notice the “Bohemian Baroque” flair expressed in buildings architecture and colorful murals that celebrate the neighborhood’s culture. New restaurants coming in seemingly every month attract more and more people to this exciting neighborhood.

Exclusively Listed By

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