UNDER CONTRACT – MULTI-FAMILY
1328 West 18th Street Chicago, IL 60608
NEIGHBORHOOD
Pilsen
PRICE
Call for details
NUMBER OF UNITS
9
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 1328 West 18th Street, a 9 unit mixed-use property located in the heart of Chicago’s popular Pilsen neighborhood. This property presents the investor with a rare opportunity to purchase a 9 unit property on 18th Street, the main retail corridor in Pilsen. The 8 apartment units feature a range of finishes and could all benefit from light cosmetic improvements. Currently 5 apartments feature individual furnaces, all 8 apartments have individual water tanks (some in-unit, some in the basement), and all 8 apartments have updated in-unit electric panels. The units feature a range of flooring, from parquet to hardwood to linoleum. Some units also feature exposed brick and ductwork. A new 60 mil TPO overlay roof was installed in 2017, and the property also features laundry on site. The retail tenant, a local law firm, occupies 2,300 SF on the first floor and are long term tenants. Their current lease expires in May 2023.

1328 West 18th Street is situated in the heart of a rapidly changing section of Pilsen. A number of new restaurants, bars, salons and shops have opened in the surrounding blocks over the past few years creating a popular retail corridor for neighborhood residents.

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 which is home to a number of 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. 3 blocks from Thalia Hall, a historic landmark and neighborhood cultural arts and events center as well as concert hall.

HIGHLIGHTS
  • Well-maintained 9 unit mixed-use building in the heart of Pilsen on 18th Street
  • The units feature a variety of finishes providing a value-add opportunity for the next investor
  • 6 of the 8 units have individual furnaces, 5 with AC, all units feature updated electric, and all units have individual water tanks
  • A new 60 mil TPO overlay roof was installed in 2017
  • Local Law Firm occupies 2,300 SF on the first floor
  • Long term retail tenant with lease in place through May 2023
  • Conveniently located 4 blocks from the 18th Street Pink Line CTA Station and less than 1 mile from the Halsted Metra Station
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922