1157 W 18th St - Apartments FOR SALE


Chicago, IL 60608
$4,250,000 USD
773-293-5007
1157 W 18th St, Chicago, IL for Sale
$4,250,000 USD
Apartments - FOR SALE
1/19
null | Request Cap Rate

1157 W 18th St
Chicago, IL 60608


HIGHLIGHTS

  • Diverse Unit Mix
  • NNN Commercial Space
  • Major Renovations in 2016 & 2022
  • Individual Mechanicals & In-Unit Laundry
  • Attractive Assumable Debt
  • Current 11.62% Cash-on-Cash

OVERVIEW

Kiser Group is pleased to present the 13-unit mixed-use property for sale at 1157 W 18th St in Chicago's Pilsen neighborhood. The property was gut renovated in 2016 with additional renovations in 2022 to feature high-end finishes to units and individual mechanicals, including in-unit laundry. The property is two (2) back-to-back structures consisting of a diverse unit mix of one-, two-, and three-bedroom units with a ground floor commercial space. The ground floor commercial space has 3% annual rent escalations, pays 17% of the property's CAM, and has two (2) five (5) year lease renewal options built into their lease. The property is being offered with an assumable Freddie Mac loan. The loan has a $3,558,000 balance, a 5.46% rate with I/O through 10/25 and matures 9/28. The assumable debt creates a current cash-on-cash return of over 11%. 1157 W 18th St presents an opportunity for new ownership to acquire a property of scale in an appreciating neighborhood with the ability to increase rents, evidenced by recent trade outs gains up to 30%.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$356 USD /SF

# OF UNITS

13

PRICE/UNIT

$326,923

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1881

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

C1-2

APN/PARCEL ID

17-20-407-020-0000,17-20-407-021-0000

ASK ABOUT THIS PROPERTY

Andy FriedmanKiser GroupMore Info
773-293-5007

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Andy FriedmanKiser GroupMore Info
773-293-5007

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.