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Building for sale in the heart of Pilsen 1601 S Morgan St 7,680 SF 100% Leased Retail Building Chicago, IL 60608 $1,350,000 ($175.78/SF)
INVESTMENT HIGHLIGHTS
- heart of pilsen
- great for office or retail
- free standing building
EXECUTIVE SUMMARY
Discover a one-of-a-kind, free-standing building in the heart of Chicago's vibrant Pilsen neighborhood. Formerly a gallery, this expansive space offers soaring ceilings, an open layout, and a unique blend of character and functionality. With B2-2 zoning, it is ideal for a boutique, creative studio, showroom, retail, or office space. The first floor features a gallery-style entrance leading to a massive 2,500 SF open area, providing endless possibilities. The second floor includes a private office and a recently renovated full bathroom. Additionally, the attic is not your typical storage space-it boasts ample standing room and can serve various needs. The property also includes a fully equipped kitchen and three bathrooms, one with two stalls, ensuring convenience for staff and visitors. Parking is a rare luxury in the city, and this property has three outdoor spaces and two garage spaces, currently used for storage. Whether you're looking to establish a creative hub, retail concept, or office space, this stunning property offers unmatched flexibility in a thriving community. Don't miss this rare opportunity-schedule a tour today! The whole building is rented thru 7/31/2026
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$96,000
|
$12.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$96,000
|
$12.50
|
| Taxes |
$8,444
|
$1.10
|
| Operating Expenses |
$11,556
|
$1.50
|
| Total Expenses |
$20,000
|
$2.60
|
| Net Operating Income |
$76,000
|
$9.90
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $96,000 |
| Annual Per SF | $12.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $96,000 |
| Annual Per SF | $12.50 |
| Taxes | |
|---|---|
| Annual | $8,444 |
| Annual Per SF | $1.10 |
| Operating Expenses | |
|---|---|
| Annual | $11,556 |
| Annual Per SF | $1.50 |
| Total Expenses | |
|---|---|
| Annual | $20,000 |
| Annual Per SF | $2.60 |
| Net Operating Income | |
|---|---|
| Annual | $76,000 |
| Annual Per SF | $9.90 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,680 SF
Building Class
C
Year Built
1871
Price
$1,350,000
Price Per SF
$175.78
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
1 Exterior
Building FAR
1.16
Lot Size
0.15 AC
Zoning
B2-2 - RETAIL OR OFFICE
Parking
5 Spaces (0.73 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Controlled Access
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (94)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $100,280 (2025) | |
| Land Assessment | $24,420 (2025) | Annual Taxes | $8,444 ($1.10/SF) |
| Improvements Assessment | $75,860 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$24,420 (2025)
Improvements Assessment
$75,860 (2025)
Total Assessment
$100,280 (2025)
Annual Taxes
$8,444 ($1.10/SF)
Tax Year
2024
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Building for sale in the heart of Pilsen | 1601 S Morgan St
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