16 E 118th Place, Chicago, IL

$350,000

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8

Beds

About 16 E 118th Place

This well-kept four-unit brick turnkey performer in West Pullman offers fresh appeal for both owner-occupants and investors. All units received full renovations in 2023, delivering modern two-bedroom, one-bath layouts with white shaker cabinets, quartz counters, and all new appliances. Three units currently rent for a combined $3,400 monthly gross income, with tenants handling heat, electric, and gas. The fourth unit remains vacant, ideal for an owner-occupant to move in and ofset costs with rental income from the others, or to lease for stronger cash flow. The setup fully rented delivers a solid 10 cap rate on today's numbers, and with local two-bedroom rents averaging around $1,400-$1,550 recently, there's clear potential to increase as leases renew. On-site coin laundry provides steady extra income with minimal effort. With Metra access, nearby parks and the upcoming addition of a Hampton by Hilton hotel to local anchors, Chik-Fil-A, Gotham Greens, Method, Amazon and other national chains, West Pullman offers a mix of affordability and upside with ongoing interest and rising values.

Features of 16 E 118th Place

MLS® # 12733362
Price $350,000
Bedrooms 8
Bathrooms 0.00
Type Residential Income
Sub-Type Two to Four Units
Status Active

Community Information

Address 16 E 118th Place
Area CHI - West Pullman
City Chicago
County Cook
State IL
Zip Code 60628

Amenities

Is Waterfront No
Has Pool No

Interior

Heating Electric
Fireplace No
Has Basement Yes
Basement Crawl Space

Exterior

Exterior Brick

School Information

District 299

Additional Information

Days on Market 7
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeNorth Clybourn Group, Inc.

Listing Map

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