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$2,995,000
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Property Description
1421 W Chicago is a boutique seven-unit turn key mixed-use apartment building anchored by a new well-established restaurant, Gilda in the heart of West Town. The property presents a rare opportunity to acquire a stabilized fully renovated asset with diversified income, strong in-place tenancy, and long-term upside in a premier corridor location. Positioned directly along Chicago Avenue, the building benefits from exceptional visibility and immediate access to some of the neighborhood's most sought-after dining, retail, and entertainment destinations, while remaining surrounded by the residential character and walkability that continues to drive demand throughout West Town/Noble Square. The residential component features seven thoughtfully designed apartment layouts with modern finishes and efficient floor plans that appeal to today's renters. All units have washer and dryer in unit, stainless steel appliances and varying degrees of finish packages. Combined with the strength of the ground-floor commercial tenancy and all of the larger infrastructure upgrades , the asset offers investors a compelling blend of stable cash flow and future appreciation potential in one of Chicago's most supply-constrained rental markets.
Full Property Details
Full Property Details for 1421 W Chicago Ave
General
- Price: $2,995,000
- HOA FEE: $2,341
- Taxes: $31,516 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12711342
- Updated: 7/27/2026
- Added to Site: 11 day(s) ago
Location
- Area: CHI - West Town
- County: Cook
- Township: West Chicago
- Driving Directions: West on Chicago from Noble
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls, Gas
Utilities
- Trash: 2711
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 4
- Year Built: 1950
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 25 x 124
Financial Considerations
- Maint. Fee: $2,341
- Insurance Fee: $1,138
- Operating Expenses: $30,462
- Other Fee: $2,100
- Assessment Year: 1950
- Tax Amount: $31,516
- Tax Year: 2024
- Pays Electric: 732
- Pays Trash: 2711
Disclosures and Reports
- Property ID: 17081020070000
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Schools
Schools serving 1421 W Chicago Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Otis Elementary School 525 North Armour Street, Chicago, IL 60642 | K-8 | 0.3 mi |
Wells Community Academy High School 936 North Ashland Avenue, Chicago, IL 60622 | 9-11 | 0.3 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1421 W Chicago Ave
Date
Details
Price
Change
Source
7/21/2026
Listed
$2,995,000
109.44%
MLS
8/04/2023
Sold
$1,430,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1421 W Chicago Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$31,516
—
$180,000
26%
2023
$31,516
-1%
$142,996
-4%
2022
$31,943
2%
$149,156
—
2021
$31,221
32%
$149,156
47%
2020
$23,692
11%
$101,422
—
2019
$21,362
2%
$101,422
—
2018
$21,038
9%
$101,422
19%
2017
$19,334
7%
$85,226
—
2016
$17,999
9%
$85,226
—
2015
$16,588
8%
$85,226
10%
2014
$15,356
2%
$77,709
—
2013
$15,106
-4%
$77,709
-7%
2012
$15,733
—
$83,298
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1421 W Chicago Ave
1421 W Chicago Avenue, Chicago, IL 60642 (MLS# 12711342) is a Commercial property. 1421 W Chicago Avenue is currently listed for $2,995,000 and was received on July 21, 2026. Want to learn more about 1421 W Chicago Avenue? Do you have questions about finding other Commercial real estate for sale in West Town? You can browse all West Town real estate or contact a Coldwell Banker agent to request more information.

