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About the Listing 87121 - 1019349
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.
Listing Highlights
Status
Active
Days on Site
4
Property Type
Multi-Family
MLS ®
12658418
Year Built
1880
Total Square Footage
0
Lot/Acreage
24x125
Interior Details
- Bedrooms: 4
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished,Exterior Entry,Full
- Other:
- Water: Lake Michigan
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 0
- Lot Dimensions: 24x125
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $10,246
- Taxes w/Assessments: N/A
- Tax/Property ID: 17203010120000
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Questions About..
1425 W 16th St Chicago, IL 60608
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