1140 W. 18th St.
Strauss Realty, Ltd. has been exclusively engaged to market for sale 1140 W. 18th Place, a fully leased mixed-use property located in the heart of Chicago’s Pilsen neighborhood. The building totals approximately 8,000 square feet and includes one ground-floor commercial space occupied by Bobijoa Korean Kitchen, along with six renovated residential units above (three 2BD/1BA and three 1BD/1BA apartments). For complete financials, please contact agents Craig Wolf or Aaron Strauss at 773.736.3600.
Investor Highlights
- The property is being offered at a 4.89% capitalization rate based on in-place NOI of $85,537.
- All units are leased on gross terms, providing stable and predictable income with limited management burden.
- The apartments have been updated with stainless steel appliances, granite countertops, new flooring, and individualized utilities.
- With full occupancy and updated interiors, the asset offers turnkey cash flow in a high-demand rental submarket.
- Sale Price: $1,749,000
- Property Tax: $13,657
- Annual Net Op. Income: $85,537
- MLS: 12437547
- P.I.N.: 17-20-401-044-0000
- Building Type: Mixed Use
- Number of Stories: 4
- Building Square Feet: 8,000
Property Details
Unbeatable Location!
Located just off the intersection of 18th Street and Racine Avenue, the property is positioned in one of Chicago’s most active mixed-use corridors. The site benefits from excellent connectivity, including close proximity to the CTA Pink Line, multiple bus routes, and easy access to I-90/94 and I-55. The surrounding area features a dense residential population alongside a growing base of local businesses, restaurants, and cultural institutions. With strong rental demand, walkability, and ongoing public and private investment in the neighborhood, 1140 W. 18th Place represents a rare opportunity to acquire a fully stabilized, mixed-use asset in a core urban location.