ON MARKET – MULTI-FAMILY
1722 South Halsted Street Chicago, IL 60608
PRICE
$350,000
NUMBER OF UNITS
2
CAP RATE
0%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively retained to market for sale 1722 S. Halsted St., a two-unit mixed-use building located in the heart of the Pilsen neighborhood of Chicago. In recent years, Pilsen has become one of the most sought-after neighborhoods by investors and developers primarily due to being an extremely low-density market with proximity to downtown and the area’s dynamic fundamentals, including a thriving artist community.

This two-story, brick and frame building sits on an approximately 2,500 square foot lot, and the current unit mix consists of one (1)- ground floor commercial space (APX 2,500SF), one (1)- 1 Bed / 1 Bath (APX 1,600SF) apartment.

The property has been owned by the same family for generations and has been kept vacant for several years; therefore, the property could be improved through renovation. Please review the Operating Statement for pricing and estimated renovation costs.

An investor has an extremely rare opportunity to acquire a mixed-use asset in Pilsen’s Art District that has undergone tremendous growth and development. Post-renovation, a new investor should be able to yield a 7.5% Cap Rate in one of the most well-known streets in Pilsen.

*Buyer must conduct their own independent due diligence on the property, and Essex Realty Group, Inc. does not make any representations regarding the property. The property is being sold “As-Is” with no representations or warranties.

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 professional’s 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 just two blocks from Halsted Metra Station, and in proximity to numerous bus stops. As well as being located directly in a strong retail corridor, including small businesses and art spaces.

HIGHLIGHTS
  • Attractive Pilsen location
  • Value-add opportunity
  • Located in the Pilsen’s art district
LISTING BROKERS
Steven Livaditis
Principal
773.305.4840
Jordan Gottlieb
Principal
773.305.4922
Jim Darrow
Principal
773.305.4920