ON MARKET – MULTI-FAMILY
1848 S Blue Island Avenue Chicago, IL 60608
NEIGHBORHOOD
Pilsen
PRICE
$1,475,000
NUMBER OF UNITS
5
CAP RATE
7.29%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale, 1848 South Blue Island Avenue, a 5-unit mixed use property located in Chicago’s popular Pilsen neighborhood. The building is comprised of a 2,200 SF retail space on the ground floor along with four spacious 2 bed/1 bath apartments. All of the units were renovated in 2021 and include open layouts with high ceilings, hardwood floors, stainless steel appliances, quartz counters, custom tile backsplash and showers, large walk-in closets, individual HVAC and laundry in-unit. The retail space features high ceilings, exposed brick walls, a bathroom, and a full basement.

The property is situated on south side of 18th Street just west of Loomis Street and is conveniently located steps to the neighborhood’s popular 18th Street, making it an ideal location on Chicago’s south side. The 18th St and Damen L Stations are both less than one mile away, providing tenants quick access to the Pink Line. Along with several surrounding bus stops & Divvy stations, tenants are offered excellent transportation options. 1848 S Blue Island is a rare opportunity to own a renovated mixed-use building in a prime Pilsen location with an endless choice of trendy restaurants, local bars and entertainment options steps away.

LOCATION DETAILS

Pilsen is a culturally rich neighborhood situated roughly 3.5 miles southwest of Chicago’s Loop. The neighborhood of Pilsen features a diverse population mix including families, creative professionals, business professionals, medical students, and grad students. 18th Street is a bustling retail corridor that is home to many local cafes, coffee shops, bodegas, and restaurants. While Pilsen has a strong cultural presence filled with many local restaurants, several Chicago restaurant chains as well as critically acclaimed new chefs have opened up restaurants in recent years.

The property is also situated approx. less than a mile from Thalia Hall, a historic landmark and neighborhood cultural arts and events center as well as a concert hall. Thalia Hall is a prime example of the ever-growing art community that Pilsen is.
Not only are residents extremely close to downtown Chicago but they are also just west of McCormick Place, the largest convention center in North America.

The property’s convenient location makes commuting around the city quite easy. The Subject Property is three blocks from the 18th Pink Line L Station, one mile to the Halsted Metra Station, and in proximity to numerous bus stops.

HIGHLIGHTS
  • 7.29% Cap Rate in Ideal Pilsen Location at 18th & Blue Island
  • Mixed-Use Building Fully Renovated in 2021
  • Four Spacious 2 Bedroom Apartments
  • 2,200 SF Ground Floor Retail Space Leased Through 2024 to Successful Local Business - NNN
  • Units Feature High Ceilings, Stainless Steel Appliances, Quartz Counters, Individual HVAC & In-Unit Laundry
  • Ideal Pilsen Location, Within Walking Distance to 18th St & Damen CTA Stations
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922