1425 West 16th Street

Chicago IL 60608

Multi-Family

Currently for sale - view listing

Overview

Exceptional investment opportunity in the heart of East Pilsen. This fully renovated, income-producing 3-unit property offers the ideal combination of strong in-place cash flow, modern upgrades, and long-term appreciation potential in one of Chicago's most vibrant neighborhoods. The building is fully occupied with established tenants and operates efficiently with separate utilities. Located just minutes from Downtown, the West Loop, major transportation, restaurants, galleries, nightlife, and continued luxury development throughout East Pilsen, this is a rare opportunity to acquire a stabilized asset in a rapidly appreciating market. Ideal for investors seeking a turnkey addition to their portfolio with a Cap Rate of 6.83. 2025 upgrades: Excavation and installation of ~ 1,500 sq ft of concrete with drain tile around entire property. New fencing and rear decking. Front building: 1BR/1BA complete remodel with high-end finishes, appliances, central air, and in-unit laundry. Front building: In-unit laundry. Complete plumbing updated to copper. Complete tear-off roof replacement, gutters, and downspouts. Rear coach house: 2BR/1BA complete remodel with high-end finishes, appliances, and new HVAC with central air. High-efficiency spray foam insulation was installed in both basements.

Features

4 bedrooms

3 bathrooms

Multi-Family

Property history for 1425 West 16th Street

2025

Sold

$510,000

14 Apr 2025 by Lucas Alvarado, of Ready Properties Inc

2023

Sold

$300,000

03 May 2023 by Cristino Aguirre, of Realty of Chicago

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