Multifamily

Pilsen Portfolio

Listing Price: $3,750,000

Cap Rate
6.61%
Number of Units
24
GRM
11.79
Occupancy
97.00%
Price/Unit
$156,250
Price/Gross SF
$203.25
Gross SF
18,450

Investment Overview

Marcus & Millichap is pleased to present this four building multi-family and mixed-use portfolio opportunity in the Pilsen neighborhood of Chicago, Illinois. The subject properties are all located within walking distance from each other in the heart of Pilsen. 1816 South Racine Avenue consists of two one-bedroom/one-bathroom units that measure 650 square feet, three two-bedroom/one-bathroom units that measure 800-900 square feet, and two non-conforming one-bedroom/one-bathroom units. 1849 West Cullerton Street consists of two one-bedroom/one-bathroom units that measure 600-650 square feet, two two-bedroom/one-bathroom units that measure 800-900 square feet. 1656 South Throop Street is seven unit building plus coach house consisting of five one-bedroom/one-bathroom units that measure 650 square feet, and two two-bedroom/one-bathroom units that measure 800-900 square feet. 1529 West 18th Street consists of six one-bedroom/one-bathroom units that measure 750 square feet, one two-bedroom/one-bathroom plus office unit that measure 1,100 square feet. Additionally there is one first floor storefront and an in-law suite that are both currently gutted.

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. 18th Street offers offbeat vintage shops, independent coffee houses, and quaint cafes which fill the center of this neighborhood. New restaurants coming in seemingly every month attract more and more people to this exciting neighborhood.

An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of these assets plus the ability to raise current rents to conform with the market.

Investment Highlights

  • Pilsen Neighborhood Location
  • Four Building Portfolio Opportunity
  • Walking Distance to Major Retail Corridor
  • Attractive Unit Mix
  • Close to Public Transportation

Exclusively Listed By

Listing Price: $3,750,000

Cap Rate
6.61%
Number of Units
24
GRM
11.79
Occupancy
97.00%
Price/Unit
$156,250
Price/Gross SF
$203.25
Gross SF
18,450

Investment Highlights

  • Pilsen Neighborhood Location
  • Four Building Portfolio Opportunity
  • Walking Distance to Major Retail Corridor
  • Attractive Unit Mix
  • Close to Public Transportation

Investment Overview

Marcus & Millichap is pleased to present this four building multi-family and mixed-use portfolio opportunity in the Pilsen neighborhood of Chicago, Illinois. The subject properties are all located within walking distance from each other in the heart of Pilsen. 1816 South Racine Avenue consists of two one-bedroom/one-bathroom units that measure 650 square feet, three two-bedroom/one-bathroom units that measure 800-900 square feet, and two non-conforming one-bedroom/one-bathroom units. 1849 West Cullerton Street consists of two one-bedroom/one-bathroom units that measure 600-650 square feet, two two-bedroom/one-bathroom units that measure 800-900 square feet. 1656 South Throop Street is seven unit building plus coach house consisting of five one-bedroom/one-bathroom units that measure 650 square feet, and two two-bedroom/one-bathroom units that measure 800-900 square feet. 1529 West 18th Street consists of six one-bedroom/one-bathroom units that measure 750 square feet, one two-bedroom/one-bathroom plus office unit that measure 1,100 square feet. Additionally there is one first floor storefront and an in-law suite that are both currently gutted.

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. 18th Street offers offbeat vintage shops, independent coffee houses, and quaint cafes which fill the center of this neighborhood. New restaurants coming in seemingly every month attract more and more people to this exciting neighborhood.

An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of these assets plus the ability to raise current rents to conform with the market.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower