ON MARKET – MULTI-FAMILY
2021-2029 South Ruble Street Chicago, IL 60608
NEIGHBORHOOD
Pilsen
PRICE
$1,850,000
NUMBER OF UNITS
8
CAP RATE
2.75%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively retained to market for sale, The Ruble Portfolio, located in the Pilsen neighborhood of Chicago. The portfolio includes five contiguous properties ideally positioned for redevelopment at 2021-29 South Ruble Street.

Currently, there are four multifamily apartment buildings (2-flats) and two garages situated on the offering. The units are a mix of studio and 1-bedroom apartments in various stages of updates and are currently leased. The gross land area is approximately 12,000 square feet and is presently zoned RT-4.

The Pilsen neighborhood is one of the most active and vibrant markets in Chicago, and it is extremely rare to have the opportunity to acquire approximately 12,000 contiguous square feet. The current zoning allows an investor or developer a vast array of development options in this prime location.

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, creatives, 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 approximately 8 blocks 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. 2021-29 S Ruble St is just 4 blocks from the Halsted Metra Station and in close proximity to numerous bus stops. As well as being located within a strong retail corridor, 2021-29 S Ruble is just steps from the Chicago Arts District along south Halsted Street where galleries open their doors every 2nd Friday night inviting patrons in to see their galleries.

HIGHLIGHTS
  • Prime Pilsen Location
  • Contiguous Parcels
  • Four (4) 2-Flats & One (1) Vacant lot
  • Eight (8) Apartments
  • Studio and 1- Bedroom Apartment Layouts
  • RT-4 Zoning
  • Vast Array of Multifamily Development Options
LISTING BROKERS
Steven Livaditis
Principal
773.305.4840
Jim Darrow
Principal
773.305.4920