REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Fabiola Mendozaof Compass
$ 799,000
Est. payment /mo
Open Sat 10AM-1PM
1425 W 16th Street Chicago, IL 60608
4 Beds
Open House
Sat May 30, 10:00am - 1:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12658418
Bedrooms 4
Year Built 1880
Annual Tax Amount $10,246
Tax Year 2024
Lot Dimensions 24x125
Property Sub-Type Two to Four Units
Property Description
Exceptional investment opportunity in the heart of Pilsen. This fully renovated, income-producing 3-unit property offers the ideal combination of strong in-place cash flow, modern upgrades, and long-term appreciation potential in one of Chicago's most vibrant neighborhoods. The building is fully occupied with established tenants and operates efficiently with separate utilities. Located just minutes from Downtown, the West Loop, major transportation, restaurants, galleries, nightlife, and continued luxury development throughout Pilsen, this is a rare opportunity to acquire a stabilized asset in a rapidly appreciating market. Ideal for investors seeking a turnkey addition to their portfolio with a cap rate of 6.83. Current rents 2100, 1800, 1650 (below market rent due to long time tenant). 2025 upgrades: Excavation and installation of ~ 1,500 sq ft of private concrete patio with drain tile around entire property. New fencing and rear decking. Front building Unit 1: 1BR/1BA complete remodel with high-end finishes, appliances, central air, and in-unit laundry. Front building Unit 2: In-unit laundry added (2024 complete remodel). Complete tear-off roof replacement, gutters, and downspouts of main building and coach house. Rear coach house: 2BR/1BA complete remodel with high-end finishes, appliances, and new HVAC with central air. High-efficiency spray foam insulation was installed in both basements.
Location
State IL
County Cook
Rooms
Basement Unfinished, Exterior Entry, Full
Interior
Heating Natural Gas
Fireplace N
Exterior
View Y/N true
Building
Sewer Public Sewer
Water Lake Michigan
Structure Type Vinyl Siding,Frame
New Construction false
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition Standard
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
