Two-Story Mixed-Use
New
For Sale
$1,050,000
1126-1130 W 18th Street, Chicago, IL 60608
Three-address assemblage with two parking lots along 18th Street in Chicago’s East Pilsen neighborhood.
Property Size1,920 SF
Days on Market7
Property Features for 1126-1130 W 18th Street
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Commercial
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$18,282
Building Details
Building Size
1,920 SF
Year Built
1888
Stories
2
Units
2
Listing Agency:
Avenue 1 Realty Group
(773) 622-4663
Listed By:
Ronald Ohr · License #471020729
(773) 622-4663
Source:
Midwestrealestate
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 19 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Avenue 1 Realty Group
Investment Insights
Based on property information with market context.
This mixed-use assemblage combines a two-story building with two additional parking lots across three separate addresses. The property was built in 1888 and carries COMMR zoning. Approximately 72 feet of frontage extends along 18th Street.
The property is located in East Pilsen at 1126-1130 W 18th Street in Chicago. The surrounding area includes restaurants, retail businesses, and entertainment destinations. The combined offering includes the existing building and parking improvements, providing a defined configuration for mixed-use ownership or redevelopment planning.
The property is located in East Pilsen at 1126-1130 W 18th Street in Chicago. The surrounding area includes restaurants, retail businesses, and entertainment destinations. The combined offering includes the existing building and parking improvements, providing a defined configuration for mixed-use ownership or redevelopment planning.
Key Highlights
- Three separate addresses offered together as one assemblage
- Two‑story mixed‑use building constructed in 1888
- Approximately 72 feet of frontage on 18th Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,400
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$648,000
$648.0K
Cap Rate 7%
$462,857
$462.9K
Cap Rate 9%
$360,000
$360.0K
Market Conditions
NOI Build-Up for 1,920 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.6K $30.00/SF
− Vacancy
−$5.8K −$3.00/SF
EGI
$51.8K $27.00/SF
− OpEx
−$19.4K −$10.13/SF
NOI
$32.4K $16.88/SF
Area
Chicago, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$648,000
Cap Rate 7%
$462,857
Cap Rate 9%
$360,000
Alternative Uses
Best Use
Mixed Use
$462.9K
$405.0K – $540.0K
NOI $32,400 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.3K
$792.1K – $1.06M
NOI $63,369 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,803
Businesses Nearby
Explore this area
Business Placement
Demographics for 60608, IL
75,770
Population
32,617
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
12,221
Density / Sq Mi
$70,704
Median Household Income
$42,211
Median Earnings
$1,208
Median Rent
$341,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-address assemblage with two parking lots along 18th Street in Chicago’s East Pilsen neighborhood.
Where is this mixed-use property located?
The property is located at 1126-1130 W 18th Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three separate addresses offered together as one assemblage; Two‑story mixed‑use building constructed in 1888; Approximately 72 feet of frontage on 18th Street
