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$1,749,000
Est. payment /mo
8,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $218
MLS Listing ID 12437547
Year Built 1885
Annual Tax Amount $13,941
Tax Year 2023
Lot Dimensions 25X125
Property Sub-Type Mixed Use
Property Description
Strauss Realty, Ltd. is pleased to present 1140 W. 18th Place-a fully leased mixed-use property ideally situated in the heart of Chicago's vibrant Pilsen neighborhood. This well-maintained building spans approximately 8,000 square feet and features a ground-floor commercial space currently occupied by restaurant Bobijoa Korean Kitchen, along with six renovated residential units above. The residential mix includes three 2-bedroom/1-bath units and three 1-bedroom/1-bath units, all updated with stainless steel appliances, granite countertops, new flooring, and individual utilities. The property offers an attractive in-place cap rate of 4.89% with a current net operating income of $85,537. All leases are gross, minimizing management responsibilities and ensuring steady cash flow. With full occupancy and modernized interiors, this is a turn-key investment opportunity in a strong rental market. Located just steps from the intersection of 18th Street and Racine Avenue, the property benefits from excellent transit access via the CTA Pink Line, multiple bus routes, and nearby expressways. The area is known for its walkability, strong community presence, and a dynamic mix of local businesses, restaurants, and cultural destinations. This is a rare chance to acquire a stabilized asset in one of Chicago's most in-demand urban neighborhoods.
Location
State IL
County Cook
Zoning OTHER
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Craig Wolf • Strauss Realty Ltd
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Joanna Lewkowicz
Designated Managing Broker | Owner | 471.018027 471018027
+1(708) 226-4848 | joanna@boutiquehomerealty.com