ON MARKET – MULTI-FAMILY
1947-49 & 51 South Canalport Avenue Chicago, IL 60616
NEIGHBORHOOD
Pilsen
PRICE
$1,350,000
NUMBER OF UNITS
10
CAP RATE
7%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale, 1947-1949 & 1951 South Canalport Street, two side-by-side properties located in Chicago’s popular Pilsen neighborhood.

1947-49 & 1951 S Canalport includes 10 total units, comprising of one, two and three bedroom apartments. The units feature a variety of finishes including hardwood floors, white or stainless steel appliances, individual gas-forced furnaces, and back decks or a shared yard. There is laundry in 6 of the 10 units. The opportunity exists for an investor to further improve each property by updating kitchens & baths, adding central A/C, and installing laundry into the remaining 4 units.

The properties are situated on the south side of Canalport Avenue, between Desplaines Street and Ruble Street on the east side of the highway, the part of Pilsen with the greatest growth potential. They are conveniently located just 5 blocks from the Halsted Metra Train Station and less than a mile from the Cermak-Chinatown CTA “L” Station. 1947-49 & 1951 S Canalport sit in a prime location within Pilsen, close to public transportation and only a couple of blocks from the popular 18th Street commercial corridor which includes an endless stream of local shops, restaurants, bars & entertainment options.

1947-49 & 1951 S Canalport Ave are being offered as a portfolio, providing investors with the opportunity to acquire two assets located steps apart.

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 artists, creatives, business professionals, medical students, grad students and families. 18th Street is the main retail corridor that is home to many local cafes, local retailers, coffee shops, bodegas and restaurants. While Pilsen has a strong cultural presence filled with many local restaurants, several Chicago restaurants with multiple locations with critically acclaimed new chefs have opened restaurants in recent years.
The property is situated approximately 1 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. In addition to Thalia Hall, Pilsen is home to the National Museum of Mexican Art which attracts visitors from not only Chicago and the Midwest, but nationally and internationally as well.
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. 1947-51 S Canalport Avenue is just 5 blocks from the Halsted Metra Train Station, less than a mile from the Cermak-Chinatown CTA “L” Station, and in close proximity to numerous bus stops.

HIGHLIGHTS
  • Rarely Available Side-By-Side Properties in Pilsen
  • Significant Upside in Rents by Completing Updates
  • 6 of 10 Units Include In-Unit Laundry
  • Prime Location in Pilsen- Two Blocks to Bustling 18th Street
  • Walkable Distance to Halsted Metra Train Station & Cermak-Chinatown CTA "L" Station
LISTING BROKERS
Jim Darrow
Principal
773.305.4920
Jordan Gottlieb
Principal
773.305.4922