For more information contact: Aaron Strauss
Office: 773-736-3600 Aaron@straussrealty.com

OR Craig Wolf Office: 773-736-3600 Craig@straussrealty.com

1616 W. 18th St.

Chicago, IL 60608

Status: For Sale

Strauss Realty, Ltd. has been exclusively engaged to market for sale 1616 W. 18th Place, an 9-unit mixed-use building located in the heart of Chicago’s vibrant Pilsen neighborhood. The property includes eight fully leased residential apartments (five 1BD/1BA units, two 2BD/1BA units, and one 3BD/1BA unit), along with one street-level 750-square-foot commercial space currently available for lease (although an LOI has been received). The total building area is approximately 6,250 square feet.

Investor Highlights:

  • Offered at a 6.88% capitalization rate based on in-place NOI of $106,561, this asset provides immediate yield with potential upside through lease-up of the commercial space.
  • All units are leased on gross terms, offering simplicity and predictability in management.
  • The flexible commercial storefront—ideal for retail, office, or service uses—offers additional value-add opportunity in a neighborhood with growing demand for local business space.

With stable multifamily income and upside through lease-up of the commercial space, the property presents a solid mixed-use investment in a well-connected Chicago submarket.

Contact agents Aaron Strauss, Craig Wolf, or Dale Strauss for Financials.

  • Sale Price: $1,549,000
  • Property Tax: $14,684
  • MLS: 12439393
  • P.I.N.: 17-19-411-036-0000
  • Building Type: Investment, Mixed Use
  • Number of Stories: 2
  • Building Square Feet: 6,250

Property Details

Unbeatable Location!

  • Half a block from Ashland Avenue and 18th Street
  • Two blocks from the CTA Pink Line
  • Near I-90/94 and I-55
  • The Pilsen neighborhood continues to see steady demand from both residents and small businesses.