PENDING
$50K PRICE DROP
2312 W 21st St Chicago, IL 60608
Heart of Chicago NeighborhoodEstimated payment $5,898/month
Total Views
4,204
--
Bed
--
Bath
3,900
Sq Ft
$244
Price per Sq Ft
Highlights
- Property is near public transit
- Forced Air Heating System
- 2-minute walk to Western Station (Pink Line)
About This Home
FIRST TIME ON THE MARKET IN 40 YEARS!---SIX UNITS---great investment opportunity in super-hot Pilsen! Well maintained property with three 2-bedrooms and three one-bedrooms. FIVE of the six units are very nicely rehabbed, the sixth one in decent condition, all have separate heat, 2R has actual AC. **The fourth level has the front half finished with a vacant studio, the rest is semi-finished--this could be a large seventh unit**, rear deck is also FOUR stories. Most mechanicals have been updated including plumbing, electrical, heating, hot water tanks, tuckpointing. Roof is in good condition as well. The rents are currently below market, cap rate at 4.3. 4 tenants are M-T-M, two are on leases. Two car garage will also add additional income. There is room to improve. Owner constantly get requests from the locals to rent there as well. At pro-forma numbers a cap rate of about 9.8 with the existing units OR about 10.3 if the fourth level is made into an additional unit. The Pink Line L is only a half block away, Both the Eisenhower and the Stevenson are only about 10 minutes away as well. This is a very accessible location, lots of shopping and restaurants are near by. ADDITIONAL DETAILS AVAILABLE BY EMAIL---just ask.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,651
Year Built
- Built in 1888
Lot Details
- 3,096 Sq Ft Lot
- Lot Dimensions are 24 x 129
Home Design
- Brick Exterior Construction
- Pitched Roof
- Concrete Perimeter Foundation
Interior Spaces
- 3,900 Sq Ft Home
- 4-Story Property
- Fire Suppression System
Location
- Property is near public transit
Utilities
- Forced Air Heating System
- Heating System Uses Gas
- Cable TV Available
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $334
- Fuel Expense $861
- Insurance Expense $4,265
- Maintenance Expense $500
- Water Sewer Expense $1,948
- Operating Expense $16,559
- Gross Income $62,520
- Net Operating Income $45,960
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/02/2025 08/02/25 | Pending | -- | -- | -- |
| 06/24/2025 06/24/25 | Price Changed | $950,000 | -5.0% | $244 / Sq Ft |
| 05/21/2025 05/21/25 | For Sale | $1,000,050 | -- | $256 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Similar Home in Chicago, IL
Source: Midwest Real Estate Data (MRED)
MLS Number: 12357005
APN: 17193140400000
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