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$1,549,000

  • For Sale
  • Active
  • Commercial
  • 6,250 Sq. Ft.
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Strauss Realty, Ltd. is pleased to present 1616 W. 18th Place, a fully leased 9-unit mixed-use building (8 residential , 1 commercial unit) located in Pilsen. The property features eight residential apartments (5) 1BD/1BA, (2) 2BD/1BA, and (1) 3BD/1BA, all leased on gross terms for simplified management. A 750 SF ground-floor commercial storefront is currently available for lease, with a letter of intent already received, providing immediate value-add potential. The building spans approximately 6,250 square feet and is offered at a 6.88% capitalization rate based on current net operating income of $106,561. With stable residential income and upside through commercial lease-up, this asset offers strong cash flow and long-term growth in a high-demand market. Conveniently located just half a block from Ashland and 18th Street, 2 blocks from the CTA Pink Line, and minutes from I-90/94 and I-55. The Pilsen neighborhood continues to see steady demand from both residents and small businesses.

Full Property Details for 1616 W 18th Pl

General

  • Price: $1,549,000
  • Taxes: $14,888 (2023)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12439393
  • Updated: 8/12/2025
  • Added to Site: 163 day(s) ago

Additional Information

  • Security/Safety: Other

Location

  • Area: CHI - Lower West Side
  • County: Cook
  • Township: South Chicago
  • Driving Directions: PAULINA TO 18TH PL., EAST TO ADDRESS ASHLAND TO 18TH PL., WEST TO ADDRESS
  • Location Details: Chicago South

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Gas

Utilities

  • Trash: 999

Structural Information

  • Construction: Brick, Concrete
  • Exterior Const.: Brick, Concrete
  • Foundation: Concrete Perimeter
  • Stories/Levels: 2
  • Square Feet: 6,250
  • # of Stores: 1
  • Year Built: 1889
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 8
  • # Dryers: 2

Lot Features

  • Lot Size (Sq. Ft.): 3,100
  • Lot Dimensions: 25 x 124
  • Frontage: City Street
  • Potential Use: Multi-Family
  • Zoning: MULTI

Financial Considerations

  • Insurance Fee: $999
  • Other Fee: $999
  • Security Deposit: Other
  • Assessment Year: 1889
  • Tax Amount: $14,888
  • Tax Year: 2023
  • Tenant Pays: Electricity, Heat
  • Pays Electric: 999
  • Pays Trash: 999

Disclosures and Reports

  • Property ID: 17194110360000

Listed by Strauss Realty Ltd

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Listing agents

— 1616 W 18th Pl —

  • Strauss Realty Ltd

  • Strauss Realty Ltd

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 1616 W 18th Pl

School District:Chicago Public School District 299
NameGradesDistance
Cooper Elementary Dual Language Academy
1624 West 19th Street, Chicago, IL 60608
PK-50.1 mi
Juarez Community Academy High School
1450 West Cermak Road, Chicago, IL 60608
9-120.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1616 W 18th Pl Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/06/2025
Listed
$1,549,000
335.11%
MLS
10/01/2014
Sold
$356,000
—
Public Record
Get Price Alerts and Save Property
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 for 1616 W 18th Pl

Year
Property Taxes
Change
Tax Assessment
Change
2023
$14,684
3%
$69,598
—
2022
$14,315
2%
$69,598
—
2021
$13,996
183%
$69,598
214%
2020
$4,944
11%
$22,194
—
2019
$4,459
2%
$22,194
—
2018
$4,384
-1%
$22,194
8%
2017
$4,440
127%
$20,627
111%
2016
$1,958
-20%
$9,776
-27%
2015
$2,445
-49%
$13,340
-48%
2014
$4,805
-31%
$25,896
-33%
2013
$6,993
1%
$38,452
—
2012
$6,900
—
$38,452
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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1616 W 18th Place, Chicago, IL 60608 (MLS# 12439393) is a Commercial property. 1616 W 18th Place is currently listed for $1,549,000 and was received on August 06, 2025. Want to learn more about 1616 W 18th Place? Do you have questions about finding other Commercial real estate for sale in Lower West Side? You can browse all Lower West Side real estate or contact a Coldwell Banker agent to request more information.

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