2216 W 21st Pl
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2216 W 21st Pl
6 Unit Block of Flats £1,025,700 (£170,950/Unit) 6.12% Net Initial Yield Chicago, IL 60608
Investment Highlights
- Completely Gut-Renovated 6-Unit Apartment Building
- Individual HVAC, Laundry, and Utilities
- Significant Rent Upside Potential
- All Two-Bedroom / One-Bathroom Layouts
- Exceptionally Well-Maintained Asset
- Two (2) Exterior Parking Spaces
Executive Summary
Essex Realty Group, Inc. is pleased to present 2216 W. 21st Pl., a 6-unit brick, walk-up building in Chicago’s vibrant Pilsen neighborhood.
This property boasts a unit mix of six (6) two-bedroom / one-bath unit apartments. In 2023, the property had undergone a significant renovation, and some of the apartment improvements consisted of new kitchens (cabinetry, stone countertops, stainless steel appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work), and flooring. All the units feature individual HVAC systems and domestic hot water tanks. Additional building upgrades included upgrading the electric service to 400 AMP, brick tuck pointing, and copper plumbing throughout. The property also offers two (2) surface parking spaces in the rear that provide additional income.
This turnkey opportunity in Pilsen offers savvy investors the chance to acquire a well-maintained, income-generating asset with significant growth potential. With rental rates below market value, investors can easily enhance cash flow while capitalizing on the property's strong performance.
This property boasts a unit mix of six (6) two-bedroom / one-bath unit apartments. In 2023, the property had undergone a significant renovation, and some of the apartment improvements consisted of new kitchens (cabinetry, stone countertops, stainless steel appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work), and flooring. All the units feature individual HVAC systems and domestic hot water tanks. Additional building upgrades included upgrading the electric service to 400 AMP, brick tuck pointing, and copper plumbing throughout. The property also offers two (2) surface parking spaces in the rear that provide additional income.
This turnkey opportunity in Pilsen offers savvy investors the chance to acquire a well-maintained, income-generating asset with significant growth potential. With rental rates below market value, investors can easily enhance cash flow while capitalizing on the property's strong performance.
Property Facts
| Price | £1,025,700 | Apartment Style | Low Rise |
| Price Per Unit | £170,950 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Net Initial Yield | 6.12% | Building Size | 4,410 SF |
| Gross Rent Multiplier | 10.89 | Number of Floors | 3 |
| No. Units | 6 | Year Built/Renovated | 1888/2023 |
| Property Type | Residential | Parking Ratio | 0.45/1,000 SF |
| Property Subtype | Apartment |
| Price | £1,025,700 |
| Price Per Unit | £170,950 |
| Sale Type | Investment |
| Net Initial Yield | 6.12% |
| Gross Rent Multiplier | 10.89 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 4,410 SF |
| Number of Floors | 3 |
| Year Built/Renovated | 1888/2023 |
| Parking Ratio | 0.45/1,000 SF |
Unit Amenities
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 17-19-319-042-0000 | Improvements Assessment | £46,957 |
| Land Assessment | £9,135 | Total Assessment | £56,091 |
PROPERTY TAXES
Parcel Number
17-19-319-042-0000
Land Assessment
£9,135
Improvements Assessment
£46,957
Total Assessment
£56,091
zoning
| Zoning Code | RT-4 (townhouses, two-flats, and low-density multi-unit buildings.) |
| RT-4 (townhouses, two-flats, and low-density multi-unit buildings.) |
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Steven Livaditis -
Reuben Blackman -
Essex Realty Group
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2216 W 21st Pl
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