Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1721 W 18Th St Chicago, IL 60608

    Sponsored
    For Sale
    Under Contract
    $650,000

    COMMERCIAL - Chicago, IL

    Type:Retail
    Lot size:
    0.07 Acres
    Days on Market:
    88
    Last Refresh:
    Feb 13 at 12:06 am

    Property Features for 1721 W 18Th St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active Under Contract
    Zoning
    COMMR
    APN
    17194100170000
    Lot size
    0.07 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1883
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick

    We can help!

    Listing Contact
    Jamie Garcia Crisman
    Jamie Garcia Crisman

    Realty Executives Premier (219) 405-3647

    Listing agent Jamie Garcia Crisman (630) 668-1199

    Listing date Nov 18, 2025

    MLS# 12288639

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Pilsen Mixed-Use Investment Opportunity

    This mixed-use building is located in one of Chicago's vibrant and culturally rich neighborhoods. The property features a spacious commercial storefront at street level, suitable for retail, office, or creative use, set in a high-visibility location with strong foot traffic. Above the storefront are two well-maintained, 2-bedroom residential apartments, suitable for owner-occupants or rental income. Each unit offers comfortable living space and charm, with easy access to everything Pilsen has to offer. Behind the storefront, there is a generous flex space that opens the door to multiple possibilities, such as converting it into a third apartment, using it as a studio, warehouse, workshop, or expanding the commercial footprint to suit your vision. Situated in a prime location within walking distance to CTA's Damen (Pink Line) and Polk stations, this property is positioned for commuters and city dwellers. It is located just 12 minutes to downtown Chicago and close to Metra and Amtrak stations. The lot size is 0.07 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wheel of Time Bikes ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6695183
    Latitude
    41.8574833

    Nearby Similar for Sale

    • New
      $4,240,000
      0.46 Acres

      Bronzeville Collection: Turnkey Investment Opportunity

      Classic Chicago 23-unit building with extensive renovations and modern amenities.
      4840 S Indiana Ave, Chicago, IL 60615
      View Details
    • $430,000
      7,140 SF

      Chicago Multifamily Investment Opportunity

      Six-unit multifamily property with value-add potential in Chicago's South Side.
      7304 S Union Ave, Chicago, IL 60621
      View Details
    • New
      $8,360,000
      0.46 Acres

      Bronzeville Prairie Avenue Lofts

      31-unit renovated multifamily property in Chicago's Bronzeville neighborhood.
      4358 S Prairie Ave, Chicago, IL 60653
      View Details
    • $699,900
      0.07 Acres

      Residential Income Greystone in Chicago

      Brick building with oversized units in a desirable Chicago location.
      4615 S Vincennes Ave, Chicago, IL 60653
      View Details
    • New
      $1,200,000
      0.08 Acres

      Lincoln Square Three-Unit Property

      Well-maintained 3-unit property near Winnemac Park in Lincoln Square.
      5147 N Claremont Ave, Chicago, IL 60625
      View Details
    • $1,040,000
      1,400 SF

      Washington Park Four-Unit Multifamily Property

      Four-unit multifamily property in appreciating east Washington Park, Chicago.
      5644 S Prairie Ave, Chicago, IL 60637
      View Details
    • New
      $1,200,000
      4,116 SF

      Lincoln Square 3-Flat with Garage

      Updated 3-flat in Lincoln Square with a 4-car garage.
      2544 W Gunnison St, Chicago, IL 60625
      View Details
    • $1,040,000
      1,400 SF

      Washington Park Four-Unit Investment Opportunity

      Four-unit property in east Washington Park with modern improvements.
      5331 S Calumet Ave, Chicago, IL 60615
      View Details
    • $499,000

      Renovated Two-Flat in Austin Neighborhood

      Fully renovated 7-bed, 3-bath duplex-down in Chicago's Austin neighborhood.
      5038 W Fulton St, Chicago, IL 60644
      View Details
    • $4,000,000
      Pending

      Renovated 9-Unit Building in Chicago

      Fully renovated 9-unit building near Hyde Park and lakefront.
      442-444 E 48Th St, Chicago, IL 60615
      View Details
    • New
      $579,000

      Spacious Chicago Multi-Unit Property

      Two-unit property with updated features and potential office space.
      2117 N Mulligan Ave, Chicago, IL 60639
      View Details
    • New
      $2,595,000
      0.07 Acres

      Renovated Mixed-Use Building in Lincoln Park

      Impeccably renovated mixed-use building in the heart of Lincoln Park.
      1950 N Sedgwick St, Chicago, IL 60614
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building in Pilsen's historic district with high visibility.
    Where is this mixed-use property located?
    The property is located at 1721 W 18Th St Chicago, IL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Prime Pilsen location with high foot traffic and excellent access to public transportation.; - Mixed-use building with commercial storefront and two residential apartments, offering versatile income potential.; - Spacious commercial storefront suitable for retail, office, or creative use.
    (219) 405-3647
    Request Owner's contact information
    1721 W 18Th St Chicago, IL 60608
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1721 W 18Th St
    Chicago, IL 60608
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1721 W 18Th St Chicago, IL 60608
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jamie Garcia Crisman
    Jamie Garcia Crisman
    Real Estate License ID: 475210814
    (219) 405-3647 (630) 668-1199 (219) 921-6366
    Learn more
    Google sign-in failed. Please try again or use another login method.