Essex Realty Group, Inc. has been exclusively engaged to market for sale, 1850-1852 South Blue Island Avenue, two side-by-side mixed use properties totaling 10 units in Chicago’s popular Pilsen neighborhood. The building located at 1850 is comprised of a 2,200 SF retail space on the ground floor along with two fully renovated 2 bedroom apartments above. The building at 1852 is comprised of a 2,200 SF retail space on the ground floor and six renovated 2 bed/1 bath apartments above. All of the units were renovated in 2018 and include open layouts with hardwood floors, stainless steel appliances, quartz counters, tiled backsplash & showers, and individual HVAC. The 1850 apartments include laundry in-unit, while the 1852 apartments feature shared laundry in the hallways on the 2nd and 3rd floors. The retail space at 1852 S Blue Island is currently on-market, while the space at 1850 is rented to Gracias Maria juice bar through March 2033.
ASSUMABLE DEBT AVAILABLE AT 4.46% MATURING 3/1/2028
Current Debt Balance Equal to 72% of List Price
Loan Serviced by Greystone – Contact Your Essex Broker for More Information
The property is situated on the 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. 1850-1852 South 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.
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 from the Halsted Metra Station, and in proximity to numerous bus stops.
- Assumable Debt Available @ 4.46% Maturing 3/1/2028
- Current Debt Balance Equal to 72% of List Price
- Two Side-By-Side Mixed-Use Buildings Renovated in 2018
- Eight Spacious 2 Bedroom Apartments
- 2,200 SF Ground Floor Retail Space Leased Through 2033
- Units Feature Stainless Steel Appliances, Quartz Counters, Individual HVAC & Laundry In-Unit or On-Site
- Ideal Pilsen Location, Within Walking Distance to 18th St & Damen CTA Stations