$1,549,000
1616 W 18th Place
Chicago, IL, 60608
Strauss Realty, Ltd. is pleased to present 1616 W. 18th Place, a fully leased 9-unit mixed-use building (8 residential , 1 commercial unit) located in Pilsen. The property features eight residential apartments (5) 1BD/1BA, (2) 2BD/1BA, and (1) 3BD/1BA, all leased on gross terms for simplified management. A 750 SF ground-floor commercial storefront is currently available for lease, with a letter of intent already received, providing immediate value-add potential. The building spans approximately 6,250 square feet and is offered at a 6.88% capitalization rate based on current net operating income of $106,561. With stable residential income and upside through commercial lease-up, this asset offers strong cash flow and long-term growth in a high-demand market. Conveniently located just half a block from Ashland and 18th Street, 2 blocks from the CTA Pink Line, and minutes from I-90/94 and I-55. The Pilsen neighborhood continues to see steady demand from both residents and small businesses.
Property Details
Price:
$1,549,000
MLS #:
MRD12439393
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Mixed Use
Neighborhood:
CHI – Lower West Side
Listed Date:
Aug 6, 2025
Total Sq Ft:
6,250
Year Built:
1889
Schools
Interior
Cooling
None
Exterior
Construction Materials
Brick, Concrete
Financial
Tax Year
2023
Taxes
$14,888
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
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Map
Current real estate data for Commercial in Chicago as of Sep 17, 2025
1,099
Commercial Listed
164
Avg DOM
157
Avg $ / SqFt
$1,024,179
Avg List Price
Community
- Address1616 W 18th Place Chicago IL
- CityChicago
- CountyCook
- Zip Code60608
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Property Summary
- 1616 W 18th Place Chicago IL is a Commercial for sale in Chicago, IL, 60608. It is listed for $1,549,000 To schedule a showing of MLS#mrd12439393 at 1616 W 18th Place in Chicago, IL, contact your Compass / The Debra Dobbs Group agent at 3123074909.
1616 W 18th Place
Chicago, IL
