Essex Realty Group, Inc. has been exclusively engaged to market for sale 1854 W 18th Street, a six (6) unit mixed-use property located in Chicago’s popular Pilsen Neighborhood. The property is located just off the corner of 18th and Wolcott right across the street from Harrison Park and is within walking distance to many different restaurants and shops.
The building consists of (1) Retail, (3) 2Bd/1Ba, and (2) 3Bd/3Ba units which were all gut rehabbed in 2016. The units have high end finishes featuring hardwood floors, granite counter tops, stainless steel appliances, luxury bathrooms, in-unit laundry, and (2) garage parking spaces. Capital improvements include a new tear off roof, 600 AMP electric service, plumbing including a new water main, HVAC systems, a new 4th floor addition, along with rear decks.
Investors have the opportunity to acquire a newly renovated property in a perfect location of Pilsen.
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 two blocks
from the 18th Pink Line L Station, five blocks from the Western Avenue Metra Station, and in proximity to numerous bus stops.
- Six-Unit Mixed-Use Property in Pilsen Neighborhood
- Recently Gut Rehabbed Units with High-End Finishes
- Recent Capital Improvements Include a Newer Roof, Electric, Plumbing, and HVAC systems
- Ability to Increase Rents Between $100-$400/Month in "As-Is" Condition
- Walking Distance to 18th Pink Line L Station and Western Avenue Metra Station