2149 W 18th Place Chicago, IL 60608 • Multi Unit - Multiple • New $699,900

Open Houses

Description

Legal updated brick/frame 4-unit in a strong Pilsen location, with an additional 5th garden-level space featuring a kitchenette and bath. The property also includes a 2-car garage, expandable attic storage, and three full levels of usable space. Excellent location between two Pink Line CTA stops, near a cul-de-sac block, school/park, Harrison Park, and the National Museum of Mexican Art just a few blocks east. Head east on 18th Street directly into Pilsen's restaurant scene, Thalia Hall, cafes, brunch spots, shops, and neighborhood amenities. Easy access to UIC, University Village, the Medical District, Roosevelt Collection, South Loop, downtown-adjacent neighborhoods, and the lakefront. 3 New Furnaces 2026, New Roof 2011, Water heaters mid-life. The residential units are currently occupied on term leases with average rents around $1,550/month. Layouts include 1-bedroom plus den / 1-bath units, plus a large on-grade garden-level studio space with 1 bath that is currently vacant and ready for the next owner's ideas. The 2-car garage is currently rented to two of the units. This is a solid armchair investment with existing income in place and clear upside. Units are in average rental condition, with some remaining TLC and light updates likely best completed during future turnovers. Continued improvements such as in-unit laundry, updated kitchens, and bath renovations may support higher rents over time. Common laundry is located at the rear of the garden level, along with electrical panels. Water heaters are located in both the garden level and attic. The building has 3 forced-air heating systems, a floor space heater in the garden level, and one wall-mounted space heater in Unit 1F. Four window A/C units are included with the property. Deep renter pool from Pilsen, UIC, University Village, the Medical District, and nearby downtown-adjacent neighborhoods. Lot size approximately 24.5' x 124'. A great opportunity for an investor seeking current income, location strength, and long-term value-add potential. Actual Rents now: 1F 1250 (garage space) until 8/1/26 , 1R 1400 until 10/1/26 , 2F 1400 9/1/26, 2R 1600 (garage space) until 8/15/27. Total actual rent is $5650. With Potential to be $7000 with a few basic moves.

Property Highlights