1616 W 18th Street

Strauss Realty, Ltd. has been exclusively engaged to market for sale 1616 W. 18th Place, an 9-unit mixed-use building located in the heart of Chicago’s vibrant Pilsen neighborhood. The property includes eight fully leased residential apartments (five 1BD/1BA units, two 2BD/1BA units, and one 3BD/1BA unit), along with one street-level 750-square-foot commercial space currently available for lease (although an LOI has been received). The total building area is approximately 6,250 square feet.

Investor Highlights:

Offered at a 6.88% capitalization rate based on in-place NOI of $106,561, this asset provides immediate yield with potential upside through lease-up of the commercial space.

All units are leased on gross terms, offering simplicity and predictability in management.

The flexible commercial storefront—ideal for retail, office, or service uses—offers additional value-add opportunity in a neighborhood with growing demand for local business space.

With stable multifamily income and upside through lease-up of the commercial space, the property presents a solid mixed-use investment in a well-connected Chicago submarket.