BEDS4
BATHS3 full
MLS#12658418
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLDistrict 299
Property Description
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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Unfinished, Exterior Entry, Full
Basement: Yes
Heating: Natural Gas
Lot Size: 0.07 Acres
Taxes: $10,246
Year Built: 1880
Feature Descriptions
Exterior: Vinyl Siding, Frame
Lot Dimensions: 24x125
Parcel#: 17203010120000
Sewer: Public Sewer
Total Rooms: 13
Township: West Chicago
Water: Lake Michigan
Local Schools
School District: District 299
Listed By / Shown By
Listed By
Agency Name: Compass
Agency Phone: 773-466-7150
Shown By
Agency Title: Berkshire Hathaway HomeServices Crosby Starck Real Estate
Agency Phone: 815-397-4040
Estimate Your Payment
Estimated Payment
$ 2,865.10 per month $1,778.23 Principal & Interest $853.83 Property Tax $233.04 Homeowner's InsuranceChange Payment Information
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1425 W 16th Street | MLS# 12658418
This multi-family property located at 1425 W 16th Street, Chicago, IL 60608 is currently listed for sale with an asking price of $799,000. W 16th Street is located within the District 299 school district. Search Chicago real estate on www.bhhscrosby.com today.