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1523 W 18th Street Chicago, IL 60608
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Key Details
Sold Price $725,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 3,780 sqft
Price per Sqft $191
MLS Listing ID 11741096
Sold Date 10/25/23
Year Built 1882
Annual Tax Amount $18,299
Tax Year 2021
Lot Dimensions 25 X 124
Property Description
Prime 18th Street Mixed-use building with numerous updates including 400 amp electric in front building, new 100 amp service in Coach House, new porch completed with permits, newer chimneys with liners, newer heating and hot water units and partial tuck-pointing. The units feature nicely sized 1 bed/1 bath units and a large duplex into the attic unit with 5 bedrooms and 2 baths. The coach house in the rear is approximately 700 SF. There is a nice outdoor patio for tenants to enjoy and the basement has a nice ceiling height and is currently leased at $450 per month. Unit 2R has in-unit laundry and a nicely updated bathroom. Ownership can not confirm the legality of the 6th unit. Tons of value-add in this property as ownership has been paying gas for all tenants which can easily become a tenant paid expense upon lease renewals. Real Estate Taxes have not been contested and increased by 74%. New assessed value is well above current asking price and can easily be contested and reduced upon completion of sale.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air, Central Individual, Window Unit(s)
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick
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Bought with Angelo Labriola • Sperry Van Ness
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