Essex Realty Group, LLC has been exclusively engaged to market for sale 2286 S. Blue Island Ave., a six (6) unit apartment building located in Chicago’s Pilsen neighborhood. The Property consists of six (6) residential units — one (1) renovated three-bedroom/two-bathroom duplex, three (3) renovated two-bedroom/one-bathroom apartments, one (1) vintage two-bedroom/one-bathroom apartment, and one (1) ground-floor white-box unit recently rezoned for residential use. The Offering also includes two (2) rear-pad parking spaces.

The renovated apartments feature modern luxury vinyl plank flooring, granite countertops, stainless steel appliances, recessed LED lighting throughout, and updated bathrooms with porcelain tile showers and white shaker vanities, with in-unit stacked washer/dryer in the duplex. Heat and hot water are individually controlled via in-unit forced-air gas furnaces and individual hot water tanks.

Ownership has invested in significant capital improvements to the building’s core systems, including all new copper plumbing throughout and a complete electrical upgrade with new 400-amp service, both completed within the last two years, as well as a full tear-off roof replacement in 2023.

The Property presents multiple distinct paths to value creation. The three (3) renovated two-bedroom apartments currently average approximately $1,550 per month, while comparable renovated two-bedrooms in the immediate Pilsen submarket are achieving rents of $1,700 to $1,950 per month — representing approximately 10% to 25% upside as in-place leases turn. The remaining unrenovated two-bedroom can be brought up to fully renovated condition, capturing rental premiums of approximately $400 to $500 per month above its current rate. Most significantly, the property has been rezoned from C1-2 to B2-3, which allows for residential use of the ground-floor space.

2286 S. Blue Island Ave. is conveniently situated in Pilsen, one of Chicago’s most culturally vibrant near-South neighborhoods. The Property is approximately one-half mile from the CTA Damen Pink Line Station, providing direct service to the Loop in approximately 15 minutes. 2286 S. Blue Island’s desirable location also provides residents close proximity to the dining and retail corridors along 18th Street and Cermak Road, the National Museum of Mexican Art, Thalia Hall, the University of Illinois at Chicago, and immediate access to I-55, I-90, and I-94.

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 situated approximately less than a block 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 less than one mile to the 18th Pink Line L Station and the Halsted Metra Station, and in proximity to numerous bus stops.

• 6-Unit Apartment Building Featuring One (1) 3 Bed/2 Bath Duplex, Four (4) 2 Bed/1 Bath Apartments, and One (1) Ground-Floor Unit Rezoned for Residential Conversion
• Two (2) Rear-Pad Parking Spaces
• Four Apartments Renovated With Luxury Vinyl Plank Flooring, Granite Countertops, Stainless Steel Appliances, and Porcelain Tile Showers
• Multiple Paths to Value Creation: Approximately 10–25% Rent Upside as Leases Roll, Light-Rehab Upside on Remaining Unrenovated Unit and Ground-Floor Space Already Rezoned for Residential Conversion
• Approximately One-Half Mile to CTA Damen Pink Line Station (15 Minutes to the Loop); Steps From 18th Street & Cermak Road Retail Corridors, Thalia Hall, and UIC