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1040-44 W. 18th St. 1040-1044 W 18th St 17 Unit Apartment Building $4,825,000 ($283,824/Unit) 6.17% Cap Rate Chicago, IL 60608
Investment Highlights
- Turnkey Asset on Pilsen's Main Commercial Corridor
- Residential Rents 8.5% Below Market
- Highly Committed Retail Tenants With Necessity Businesses
- Addition of In-Unit Laundry Opportunity for Further Rent Increase
Executive Summary
Kiser Group is pleased to present 1040-44 W 18th Street for sale. Situated on Pilsen's main commercial corridor, this mixed-use property was gut renovated in 2018 and expertly maintained since. NOI can be increased by adding in-unit laundry and/or bringing rents up to market. Both retail tenants are necessity-based businesses and are on modified gross leases.
Property Facts
| Price | $4,825,000 | Apartment Style | Low-Rise |
| Price Per Unit | $283,824 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.17% | Building Size | 18,196 SF |
| No. Units | 17 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1885/2018 |
| Property Subtype | Apartment | ||
| Zoning | C1-2 - Neighborhood Commercial District | ||
| Price | $4,825,000 |
| Price Per Unit | $283,824 |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 18,196 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1885/2018 |
| Zoning | C1-2 - Neighborhood Commercial District |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
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Walk Score®
Walker's Paradise (95)
Bike Score®
Biker's Paradise (95)
Property Taxes
| Parcel Numbers | Improvements Assessment | $231,525 | |
| Land Assessment | $28,600 | Total Assessment | $260,125 |
Property Taxes
Parcel Numbers
Land Assessment
$28,600
Improvements Assessment
$231,525
Total Assessment
$260,125
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1040-44 W. 18th St. | 1040-1044 W 18th St
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