Excellent Location - The Property benefits from its walkability to entertainment and restaurant venues along West 18th Street and Ashland Avenue, as well as proximity to public transportation. The Property is also conveniently located 15 minutes or 3.5 miles outside of the hustle and bustle of the City while maintaining the urban culture. The area is also a popular residential destination for students of the University of Illinois Chicago, located approximately 1.0 mile north.
Great Neighborhood - For over 150 years, Pilsen has been a port of entry for immigrants, and now is a cultural hub where artists and young professionals have recently flocked. Pilsen is trending positively thanks to the influx of new residents from downtown Chicago seeking a more affordable area. The area is well known for its vintage shops, independent coffee houses and authentic Mexican cuisine.
Value-Add Opportunity - The Property is currently very well occupied with substantial demand for available units, and the opportunity exists to increase rental rates if the kitchens were updated with new appliances, cabinets, and countertops. Additional value-add opportunity is available through lease-up of the three available units.
Well-Maintained Property - The Property has been well-maintained and is in good condition, with attractive curb appeal and overall appearance. The Property is 100% wet sprinklered, all HVAC units are operational, and there are no known major deferred maintenance requirements known.
Cash Flowing Investment - Only three of the loft units are vacant while the remaining units including the retail space are occupied.
