11-Unit Renovated Apartment
For Sale
$2,450,000
1334 W 18th Place, Chicago, IL 60608
Renovated masonry apartments feature in-unit laundry, central A/C, and individual gas forced-air furnaces.
Property Size7,235 SF
Price / SF$338.63
Days on Market58
Property Features for 1334 W 18th Place
General Information
Standard status
Active
Size
7,235 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Site & Location
Neighborhood
Pilsen
Highway Access
Yes
Public Transit
Yes
Additional Details
Average Monthly Rent
$1,796
Multifamily Units
11
Taxes and HOA fees
Annual Taxes
$18,503
Amenities
in-unit laundry
central A/C
gas forced-air furnace
Building Details
Building Size
7,235 SF
Year Built
1883
Year Renovated
2016
Construction
masonry
Listing Agency:
Triton Realty Group LLC
Listed By:
Matthew Fritzshall · License #471016941
(847) 778-8746
Source:
Harkinsandassociates
Added: Sep 3
Changed: Oct 26
Last Checked: Oct 28 at 2:08PM
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 Triton Realty Group LLC
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Investment Insights
Based on property information with market context.
This 11-unit multifamily property includes a three-story masonry front building with loft space and a separate coach house. The unit mix spans one-, two-, and three-bedroom layouts, with each apartment offering in-unit laundry, central A/C, and an individual gas forced-air furnace. The property was renovated in 2016 and contains 7,235 square feet. Professional management is in place, and the asset is fully occupied with staggered lease expirations extending through 2027. Gas and electric utilities are paid by tenants, and the property has no deferred capital reported.
The building is located in Chicago’s Pilsen neighborhood, one-half block from 18th Street dining, retail, and galleries. CTA Pink Line stations and access to I-90/94 are nearby. The property is supported by a 6.27 pro forma cap rate based on the stated in-place operations.
The building is located in Chicago’s Pilsen neighborhood, one-half block from 18th Street dining, retail, and galleries. CTA Pink Line stations and access to I-90/94 are nearby. The property is supported by a 6.27 pro forma cap rate based on the stated in-place operations.
Key Highlights
- 11‑unit multifamily property with 7,235 square feet
- Three‑story front building plus detached coach house
- Mix of 1-, 2-, and 3‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,906
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,218,120
$2.2M
Cap Rate 7%
$1,584,371
$1.6M
Cap Rate 9%
$1,232,289
$1.2M
Market Conditions
NOI Build-Up for 7,235 SF
Gross rent
$212.7K $29.40/SF
− Vacancy
−$11.1K −$1.53/SF
EGI
$201.6K $27.87/SF
− OpEx
−$90.7K −$12.54/SF
NOI
$110.9K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,218,120
Cap Rate 7%
$1,584,371
Cap Rate 9%
$1,232,289
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.39M – $1.85M
NOI $110,906 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,790 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
11
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,441
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated masonry apartments feature in-unit laundry, central A/C, and individual gas forced-air furnaces.
Where is this apartment building located?
The property is located at 1334 W 18th Place Chicago, IL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 11‑unit multifamily property with 7,235 square feet; Three‑story front building plus detached coach house; Mix of 1-, 2-, and 3‑bedroom apartments
