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$880,000

Est. payment - /mo

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8 Beds

4 Baths

Active Under Contract

1838 S Racine AVE Chicago, IL 60608

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Chris Buckely

chrisb@cby3d.com +1(312) 313-5553

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Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12433143

Bedrooms 8

Maintenance Fees $1,200

Year Built 1888

Annual Tax Amount $10,790

Tax Year 2023

Lot Dimensions 25X125

Property Sub-Type Two to Four Units

Property Description

1838 S Racine Ave is a fully renovated four-unit multifamily property located in the heart of East Pilsen-one of Chicago's most culturally vibrant and rapidly appreciating neighborhoods. Offering a strong 7.8% in-place cap rate, this asset is just off 18th Street and surrounded by award-winning dining, art, and community energy. In fact, Pilsen has been recognized as one of the coolest neighborhoods in the world, celebrated for its rich culture, dynamic food scene, and thriving art galleries. It's the only Chicago neighborhood to earn this global recognition, underscoring its distinct character and widespread appeal. The property features two three-bedroom, one-bath units and two one-bedroom, one-bath units, all of which were fully renovated in 2018. Renovations include modern kitchens with Samsung stainless steel appliances, granite countertops, updated cabinets, gas ranges, and French-door refrigerators with pull-out freezers. Each unit offers full-size in-unit laundry, updated bathrooms, new flooring, and individual HVAC systems with central heat. The building also benefits from a tear-off roof replacement in 2014 and newer windows installed in 2002. Interiors are bright and welcoming, with wood laminate flooring throughout, spacious queen-sized bedrooms with walk-in closets, and open-concept living and dining areas. Select units include window A/C units for added comfort. Residents enjoy private access to a shared backyard-perfect for relaxing outdoors-and the convenience of two parking spaces in the rear, including one garage and one surface spot. Located within walking distance to popular spots like La Luna, Pilsen Yards, and Rabbanitos, and just over a mile from UIC, the property boasts a Walk Score of 97-making it a true "Walker's Paradise." Divvy bike stations, CTA stops, and proximity to downtown further enhance connectivity and rental demand. The building is fully leased through 2026 with excellent in-place rents and responsible tenants. Tenants pay for gas, electricity, and internet, while the owner covers water, trash, sewer, and recycling. This is a turnkey investment opportunity in one of the most exciting neighborhoods Chicago has to offer-with both cash flow stability and long-term upside.

Location

State IL

County Cook

Area Chi - Lower West Side

Rooms

Basement None

Interior

Heating Natural Gas

Fireplace N

Exterior

Garage Spaces 1.0

Building

Dwelling Type Two to Four Units

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Vinyl Siding

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Vilgert Vincenzo Kostaqi • Coldwell Banker Realty

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Chris Buckely

IL/IN/MI Managing Broker | License ID: IN- RB17001753 | IL- 477013311

+1(312) 313-5553

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1838 S Racine AVE Chicago, IL 60608

Chris Buckely

Key Details

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Rooms

Interior

Exterior

Building

Schools

Others

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1838 S Racine AVE