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 | 34 |
|---|---|
| Zoning | MULTI |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | North Clybourn Group, Inc. |
|---|