2216 W 21st Pl - Apartments FOR SALE


Chicago, IL 60608
$1,300,000 USD
773-305-4840
2216 W 21st Pl, Chicago, IL for Sale
$1,300,000 USD
Apartments - FOR SALE
1/12
null | 6.12% Cap Rate

2216 W 21st Pl
Chicago, IL 60608


HIGHLIGHTS

  • Completely Gut-Renovated 6-Unit Apartment Building
  • All Two-Bedroom / One-Bathroom Layouts
  • Individual HVAC, Laundry, and Utilities
  • Exceptionally Well-Maintained Asset
  • Significant Rent Upside Potential
  • Two (2) Exterior Parking Spaces

OVERVIEW

Essex Realty Group, Inc. is pleased to present 2216 W. 21st Pl., a 6-unit brick, walk-up building in Chicago’s vibrant Pilsen neighborhood. This property boasts a unit mix of six (6) two-bedroom / one-bath unit apartments. In 2023, the property had undergone a significant renovation, and some of the apartment improvements consisted of new kitchens (cabinetry, stone countertops, stainless steel appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work), and flooring. All the units feature individual HVAC systems and domestic hot water tanks. Additional building upgrades included upgrading the electric service to 400 AMP, brick tuck pointing, and copper plumbing throughout. The property also offers two (2) surface parking spaces in the rear that provide additional income. This turnkey opportunity in Pilsen offers savvy investors the chance to acquire a well-maintained, income-generating asset with significant growth potential. With rental rates below market value, investors can easily enhance cash flow while capitalizing on the property's strong performance.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,667

CAP RATE

6.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1888

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,040 SF

ZONING

RT-4

APN/PARCEL ID

17-19-319-042-0000

ASK ABOUT THIS PROPERTY

Steven LivaditisEssex Realty GroupMore Info
773-305-4840

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Steven LivaditisEssex Realty GroupMore Info
773-305-4840

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