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965 W 18th St 5 Unit Apartment Building $2,063,730 CAD ($412,746 CAD/Unit) 7.47% Cap Rate Chicago, IL 60608
Investment Highlights
- Prime Retail Corridor
- Open basement
- Recent Heavy Capital Expenditures
Executive Summary
Fully Renovated 5-Unit Masonry Brick Mixed-Use Building Located on Pilsen's 18th Street Retail Corridor. The property includes (2) 3 bed, 2 bath residential apartments plus (3) built-out commercial units, offering strong in-place income in a prime Chicago neighborhood. The building was gut renovated in 2017-stripped to the floor joists and completely rebuilt, featuring updated interiors throughout. The residential units offer modern kitchens with stainless steel appliances, exposed brick accents, hardwood flooring, and excellent natural light. Current ownership has completed extensive additional capital improvements, including a new coach house roof, parapet wall reconstruction, Hardy board siding, masonry updates, replacement of multiple water heaters, added windows and lighting, a Doorbird entry system, and further updates to the residential units. Ownership also oversaw the buildout of all three commercial spaces and secured a new long-term tenant, Vela Spa. Ideally located near UIC, downtown Chicago, Cinespace Film Studios, and some of Pilsen's most popular restaurants, retail, and entertainment. Easy access to Metra and CTA transit. The property currently generates $149,352 in annual income, providing investors with a turnkey opportunity in one of Chicago's most sought-after mixed-use corridors.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$205,481
|
$33.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,273
|
$1.68
|
| Effective Gross Income |
$195,208
|
$31.92
|
| Taxes |
$25,032
|
$4.09
|
| Operating Expenses |
$15,898
|
$2.60
|
| Total Expenses |
$40,929
|
$6.69
|
| Net Operating Income |
$154,279
|
$25.23
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $205,481 |
| Annual Per SF | $33.60 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $10,273 |
| Annual Per SF | $1.68 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $195,208 |
| Annual Per SF | $31.92 |
| Taxes (CAD) | |
|---|---|
| Annual | $25,032 |
| Annual Per SF | $4.09 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $15,898 |
| Annual Per SF | $2.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $40,929 |
| Annual Per SF | $6.69 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $154,279 |
| Annual Per SF | $25.23 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $5,503 CAD | - |
| 3+2 | 2 | $4,127 CAD | - |
| Studios | 2 | $1,513 CAD | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 17-20-412-003-0000 | Total Assessment | $123,955 CAD |
| Land Assessment | $12,661 CAD | Annual Taxes | $25,032 CAD ($4.09 CAD/SF) |
| Improvements Assessment | $111,294 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
17-20-412-003-0000
Land Assessment
$12,661 CAD
Improvements Assessment
$111,294 CAD
Total Assessment
$123,955 CAD
Annual Taxes
$25,032 CAD ($4.09 CAD/SF)
Tax Year
2025
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965 W 18th St
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