16 E 118th Place Chicago, IL 60628
West Pullman NeighborhoodEstimated payment $2,024/month
About This Home
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 offset 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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,659
Lot Details
- Lot Dimensions are 25 x 125
Home Design
- Brick Exterior Construction
Interior Spaces
- Ceiling Fan
- Crawl Space
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Potential Bedrooms
- 4 Bathrooms
Utilities
- Heating Available
- Cable TV Available
Community Details
Overview
- 4 Units
Building Details
- Gross Income $55,200
- Net Operating Income $47,941
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,269 | $13,200 | $2,730 | $10,470 |
| 2024 | $1,269 | $13,200 | $2,730 | $10,470 |
| 2023 | $1,238 | $6,001 | $4,323 | $1,678 |
| 2022 | $1,238 | $6,001 | $4,323 | $1,678 |
| 2021 | $1,210 | $5,999 | $4,322 | $1,677 |
| 2020 | $2,284 | $10,227 | $2,957 | $7,270 |
| 2019 | $2,368 | $11,756 | $2,957 | $8,799 |
| 2018 | $2,328 | $11,756 | $2,957 | $8,799 |
| 2017 | $3,829 | $17,746 | $2,730 | $15,016 |
| 2016 | $3,563 | $17,746 | $2,730 | $15,016 |
| 2015 | $3,260 | $17,746 | $2,730 | $15,016 |
| 2014 | $2,223 | $11,952 | $2,275 | $9,677 |
| 2013 | $2,179 | $11,952 | $2,275 | $9,677 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/25/2026 02/25/26 | For Sale | $350,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12572951
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
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