REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Jonathan Minerickof Homecoin.com
-
Est. payment | /mo
-
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12730594
Year Built 1883
Annual Tax Amount $22,653
Tax Year 2025
Lot Dimensions 125x25
Property Sub-Type Multi Family 5+
Property Description
Exceptional Turnkey 5-Unit Asset in Prime Pilsen with Strong 7.15% Cap Rate & Significant Immediate Upside. Originally reconfigured as an owner-occupied building. Highly lucrative, fully permitted 5-unit commercial residential building situated on a prominent corner lot in Pilsen. Extensively gut-rehabbed to the studs between 2013-2023 with all-new building systems, modern layouts, and premium finishes. Operating at a strong 7.15% current Cap Rate with a projected 1.42 Debt Coverage Ratio (DCR), this asset offers rare immediate bankability and day-one cash flow. UNMATCHED VALUE-ADD OPPORTUNITY: The 1st-floor 1,500 sq. ft. 1BR/1BA loft tenant is vacating, creating an immediate, frictionless opportunity to capture a massive market rent increase or split the oversized floor plan to maximize total yield. Both 1701 W 21st St and 2102 S Paulina St addresses included in sale on single PIN. PREMIUM MECHANICALS & INFRASTRUCTURE: Fully updated water service replaced with copper directly to the city main. Low expenses: Tenants responsible for utilities with separately metered gas and electric. Individual furnaces, central AC, and separate tank/tankless water heaters for every unit. Attached 2-car garage off the alley providing additional premium rental income. Full unfinished basement housing utilities with storage spaces for tenants. HIGH RENTER RETENTION: Well-appointed apartments feature stone/quartz countertops, stainless steel appliances, premium hardwood or engineered flooring, masterfully tiled baths, and convenient in-unit washers and dryers. Superb location with immediate access to Pilsen public transit. Currently self-managed with zero historic vacancy. Clean rent roll, P&L, and T12 commercial underwriting documents available upon request.
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Finished, Concrete, Stone/Rock, Storage Space
Interior
Cooling Central Air, Central Individual
Fireplace Y
Exterior
View Y/N true
Roof Type Reflective Coating,Rubber
Building
Foundation Stone
Sewer Public Sewer
Water Municipal Water
Structure Type Brick
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Schools and Properties Nearby
Find out why customers are choosing LPT Realty to meet their real estate needs
Learn More About LPT Realty