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1421 W Chicago is a boutique seven-unit turn key mixed-use apartment building anchored by a new well-established restaurant, Gilda in the heart of West Town. The property presents a rare opportunity to acquire a stabilized fully renovated asset with diversified income, strong in-place tenancy, and long-term upside in a premier corridor location. Positioned directly along Chicago Avenue, the building benefits from exceptional visibility and immediate access to some of the neighborhood’s most sought-after dining, retail, and entertainment destinations, while remaining surrounded by the residential character and walkability that continues to drive demand throughout West Town/Noble Square. The residential component features seven thoughtfully designed apartment layouts with modern finishes and efficient floor plans that appeal to today’s renters. All units have washer and dryer in unit, stainless steel appliances and varying degrees of finish packages. Combined with the strength of the ground-floor commercial tenancy and all of the larger infrastructure upgrades , the asset offers investors a compelling blend of stable cash flow and future appreciation potential in one of Chicago’s most supply-constrained rental markets.

Property Details

Price:
$2,995,000
MLS #:
MRD12711342
Status:
Active
Beds:
9
Baths:
8
Type:
Commercial
Neighborhood:
chiwesttown
Listed Date:
Jul 21, 2026
Year Built:
1950
Chi – West TownChiwesttown

Schools

Interior

Cooling
Central Air

Exterior

Construction Materials
Brick
Stories
4

Financial

Maintenance Fee
$2,341
Net Operating Income
$21,195
Tax Year
2024
Taxes
$31,516

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Beth is originally from Southern Illinois where she attended SIU-Carbondale and relocated to the area over 15 years ago. Her husband Mike grew up in Spring Valley, Illinois and they moved to Putnam County 7 years ago. Beth is passionate about real estate, and her love for “fixer-uppers” definitely came from her father. “I grew up hanging out at the local lumber yard that my father managed. I loved looking through blueprints and also tagging along with him to check on his rentals and inves…

More About Bethany
1421 W Chicago Avenue
Chicago, IL

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