- List Price $349,000
- Price / Unit $87,250
- Property Type Two – Four Unit
- Units 4
- Current Rents $0
- Pro Forma Rents $8,875
- In Place NOI $0
- Projected NOI $74,585
- Target CAP Rate 0%
- Market CAP Rate 5%
- Today's Market Value $400,000
- Value w/Market Rents $1,300,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 9
- 6
- 4100
- 1888
- 0%
- 2
- 3
- Forced Air
- Central Air
- In Unit, Free
9
6
4100
- 1888
- 0%
- 9
- 3
- Forced Air
- Forced Air
- In Unit, Free
About the property
Welcome to your next Big Investment Opportunity. This legally zoned 4-Unit property resides in the heart of Pilsen, one of the Most Vibrant & culturally rich neighborhoods in Chicago, IL. This property has great potential for the right experienced investor who is capable of taking on large rehab projects. The property consists of 2 separate brick buildings on 1 lot with both building housing 2 units each. The building is currently an unoccupied shell with a solid foundation, outer walls & floors with Architectural plans in process to turn the buildings into a gorgeously updated Two dormered 3 bedroom/2 bath units (1 with over 1200 sq. ft), One 2 bedroom/1 bath unit & One spacious 1 bedroom/1 bath unit. The total living space will be over 4,000 square ft. The plans in place have been vetted by an experienced Architect that is versed in City code & building regulations. Current plans include having in unit laundry, individual HVAC units for heating & cooling along with separated Gas & Electric meters for each unit. Whether you want to renovate & resell or renovate & keep for Cash Flow, for the right investor, this property has high profit potential in a highly desired area in Pilsen, IL.
About the neighbourhood
- Pilsen is one of Chicago’s most vibrant and culturally rich neighborhoods, located on the Lower West Side just southwest of downtown. Known for its strong Mexican-American heritage, Pilsen is filled with colorful murals, authentic cuisine, and a deep sense of community identity.The area is famous for its street art and galleries, especially around 18th Street, where visitors can explore works that reflect social justice themes and cultural pride. A major landmark is the National Museum of Mexican Art, which showcases one of the largest collections of Mexican art in the United States.Pilsen’s food scene is a standout feature, offering everything from traditional taquerias and bakeries to modern fusion restaurants. Local favorites include tacos, tamales, and pan dulce, making it a go-to destination for authentic Mexican cuisine in the city.
Municipality - Investor Guide
Chicago
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: Y | Cost: $7.50 / $1000 | Required: No | Required: Yes |
| Seller: Y | Cost: $3.00 / $1000 | Cost: $0 | Cost: Varies |
| Notes | |||
| All rental buildings with 4 or more units must be registered with the city; Inspection may occur upon notice from Building Department. Call City to confirm if inspection is needed prior to closing. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
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Walkscore
Nearby
- Arts & Entertainment
-
Yada's Flowers & Gift (0.07 mi)
-
Sacha Psychic Reader (0.08 mi)
-
Anemoia Chicago (0.09 mi)
- Education
-
Tonantzin Preschool (0.1 mi)
-
Schools Public (0.17 mi)
-
Institute For Latino Studies University of Notre Dame (0.18 mi)
- Food
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Park View Diner (0.09 mi)
-
D'Nuez (0.12 mi)
-
L Cafecito Jumping Bean (0.15 mi)
- Health & Medical
-
Alivio Medical Center at Orozco Community Academy (0.16 mi)
-
CERMAK DENTAL ASSOCIATES (0.3 mi)
-
My DOC (0.3 mi)
Contact Information
- List Price $349,000
- Property Type Two – Four Unit
- Current Rents $0
- In Place NOI $0
- Target CAP Rate 0%
- Today's Market Value $400,000
- Price / Unit $87,250
- Units 4
- Pro Forma Rents $8,875
- Projected NOI $74,585
- Market CAP Rate 5%
- Value w/Market Rents $1,300,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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