Pilsen Three-Unit
2120 West Cullerton Street, Chicago, IL 60608
Call to check price and availability
Renovated three-unit building in vibrant Pilsen neighborhood.
Type:Multifamily
Property size:
3,345 SFPrice / SF:
$219/SF- Added:
- May 12, 2026
- Days on Market:
- 16
- Last Refresh:
- May 14 at 9:34 pm
Property Features for 2120 West Cullerton Street
General Information
- Standard status
- Active
- Size
- 3,345 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1908
Listing agent Angelo Labriola License #IL 475130926
Listing office SVN | Chicago Commercial (312) 676-1866
Listing date May 12, 2026
Source Crexi
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 SVN | Chicago Commercial
HighLights
- Significant upside potential due to below‑market rents.
- Fully renovated in 2018 with permits, including new plumbing, electrical, kitchens, and bathrooms.
- Prime Pilsen location with excellent access to CTA Pink Line and neighborhood amenities.
- On‑site parking for 2‑3 vehicles, a premium amenity in the area.
- Modern amenities including central air conditioning and tankless water heaters.
- Spacious master bedrooms and private outdoor spaces.
Overview
This three-unit building is 100% leased, with two units at below-market rents, presenting an opportunity for increased income upon lease renewal. The red brick building was renovated with a permit in 2018 and features modern upgrades, including central air conditioning, new plumbing and electrical systems, redesigned kitchens and bathrooms with contemporary finishes, new flooring, and tankless water heaters. The units include spacious master bedrooms, large enough for a king-size bed, private outdoor spaces, and a shared rear patio. On-site parking is available for 2-3 vehicles. The property has no common utilities and minimum landlord expenses. Located in Chicago’s Pilsen neighborhood, the property provides access to the area's amenities. It is near the CTA Pink Line Station, offering convenient access to downtown and surrounding neighborhoods. Residents can walk to retail corridors along Cermak Road and 18th Street, which feature restaurants, cafes, boutiques, and art galleries. Several parks are also nearby. Access to major expressways allows for connections to the Loop and suburbs. The property size is 3345 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$619.6K
NOI $55,760 @ 9.00% cap · cautious / downside scenario
Moderate
$796.6K
NOI $55,760 @ 7.00% cap · market / base-case scenario
Aggressive
$1.12M
NOI $55,760 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.3k | $25.20 |
| − Vacancy | −$4.6k | −$1.39 |
| EGI | $79.7k | $23.81 |
| − OpEx | −$23.9k | −$7.14 |
| NOI | $55.8k | $16.67 |
3,345 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$796.6K
$697.0K – $929.3K
NOI $55,760 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$732.5K
$641.0K – $854.6K
NOI $51,276 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,401 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6792584
- Latitude
- 41.8551529
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Renovated three-unit building in vibrant Pilsen neighborhood.
Where is this triplex located?
The property is located at 2120 West Cullerton Street Chicago, IL.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Significant upside potential due to below‑market rents.; Fully renovated in 2018 with permits, including new plumbing, electrical, kitchens, and bathrooms.; Prime Pilsen location with excellent access to CTA Pink Line and neighborhood amenities.
