1425 16th Street, Lower West Side, Chicago, Illinois 60608
$799,000
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For Sale
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| Status: | Active |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 4 |
| Baths: | 0 |
| Year Built: | 1880 |
| Property Taxes: | $10,246 |
| Lot Size: | 0,00 |
Description
Exceptional investment opportunity in the heart of Pilsen. This fully renovated, income-producing 3-unit property offers the ideal combination of strong in-place cash flow, modern upgrades, and long-term appreciation potential in one of Chicago's most vibrant neighborhoods. The building is fully occupied with established tenants and operates efficiently with separate utilities. Located just minutes from Downtown, the West Loop, major transportation, restaurants, galleries, nightlife, and continued luxury development throughout Pilsen, this is a rare opportunity to acquire a stabilized asset in a rapidly appreciating market. Ideal for investors seeking a turnkey addition to their portfolio with a cap rate of 6.83. Current rents 2100, 1800, 1650 (below market rent due to long time tenant). 2025 upgrades: Excavation and installation of ~ 1,500 sq ft of private concrete patio with drain tile around entire property. New fencing and rear decking. Front building Unit 1: 1BR/1BA complete remodel with high-end finishes, appliances, central air, and in-unit laundry. Front building Unit 2: In-unit laundry added (2024 complete remodel). Complete tear-off roof replacement, gutters, and downspouts of main building and coach house. Rear coach house: 2BR/1BA complete remodel with high-end finishes, appliances, and new HVAC with central air. High-efficiency spray foam insulation was installed in both basements.
Property Specifics
| Multi-unit | |
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| 1880 | |
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| No | |
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| Cook | |
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| — / — | |
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| 12658418 | |
| 17203010120000 |
Room Specifics
Total Bedrooms: 4
Bedrooms Above Ground: 4
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
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Floor Type: —
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Floor Type: —
Full Bathrooms: 3
Bathroom Amenities: —
Bathroom in Basement: 0
Rooms: —
Basement Description: —
Other Specifics
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| 24x125 | |
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| Not in DB | |
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