Property Overview

Fully gut rehabbed six-unit multifamily property in a perfect Pilsen location. Located just off 18th St, this asset is ideally located in one of the hottest neighborhoods in Chicago and even the world (according to Forbes). With a Walkscore of 96, this is labeled a "Walker's Paradise!"

This property is currently in the process of having a full gut renovation of all six (6) residential units and is halfway through lease-up. All of the units have been completely renovated with high-end kitchens featuring custom concrete countertops and stainless steel appliances. The building offers a favorable unit mix of four (4) two-bedroom, one-bath units, one (1) three-bedroom, two-bath duplex unit, and one (1) four-bedroom, two-bath duplex unit.

All apartments include central HVAC and in-unit laundry. The building has undergone many capex improvements including brand new 400 AMP service. There is also a two-car garage in the rear rented for an additional $150 per month for two tenants.

Highlights

  • Six (6) Unit Gut Rehabbed Multifamily Property in Perfect Pilsen Location
  • Block From Thalia Hall at 18th and Allport
  • Six High-End Units with Central HVAC and In-Unit Washer and Dryer
  • Favorable Units Mixes of Two, Three, and Four Bedroom Units
  • New Electric Service – 400 AMP
  • “Walker’s Paradise!” – Walkscore of 96!

Key Details

Sale Price
$1,825,000
Number of Units
Six (6)
Cap Rate
6.8%
Walkscore
96
Submarket
Pilsen
Transaction Date
2023