Greenstone Partners, as Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1822 South Bishop Street (the “Property”), a 97% occupied twenty-one (21) unit mixed-use asset comprising twenty (20) residential apartments and a 10,000 square foot ground-floor gym.

Known as Bishop Street Lofts, the Property was acquired by the owner in 2019 through a distressed transaction tied to the asset’s CMBS debt. At acquisition, the Property presented meaningful value-add potential — including unit renovations, re-leasing of the retail space, and capital improvements to the base building and amenity package. Working closely with a local operating partner, ownership implemented targeted upgrades such as enhanced amenities and in-unit appliance replacements, while strengthening the management of the property. Since stabilization, Bishop Street Lofts has achieved significant rent growth and maintained near-full occupancy. The opportunity presents an investor the ability to acquire a light, value-add trophy mixed-use property with attractive assumable debt.

The Property offers an attractive unit mix comprising thirteen (13) 1 Bed / 1 Bath residences and seven (7) 2 Bed / 1 Bath residences. The units feature distinctive loft-style floor plans with a level of finishes and amenities rarely found in the submarket, including mixed and stainless-steel appliance packages, maple and white shaker cabinetry, hardwood flooring, exposed brick walls, high ceilings, and in-unit laundry. Additional resident amenities include a shared rooftop deck with grilling stations, secure gated parking, ButterflyMX intercom systems, bike storage, Amazon Hub lockers, and an on-site dog wash.

Located approximately three miles southwest of Chicago’s Loop, Pilsen has established itself as one of the city’s most durable renter markets, supported by its proximity to major employment, education, and transportation hubs. The Property is situated just one-tenth of a mile from CTA bus service at 18th & Laflin and Loomis & Blue Island, and three-tenths of a mile from the 18th Street Pink Line station, providing direct connectivity to the Loop and Illinois Medical District. Convenient access to I-55, I-90/94, and I-290 further enhances regional connectivity, while nearby employment anchors including UIC, Rush University Medical Center, and the Pilsen Industrial Corridor support a deep and diversified renter base.

With loft-style residences of a scale and density unmatched in the submarket, a 10,000 square foot ground-floor retail anchor, and a location steps from the 18th Street corridor and the CTA Pink Line, 1822 South Bishop Street is purpose-built for durable occupancy and long-term appreciation in a market where there is little to no product of this caliber. Paired with assumable financing fixed at 3.61%, financing that cannot be replicated in today’s environment, this offering is ideally suited for an investor seeking a stable, well positioned cash flowing asset in one of Chicago’s most desirable neighborhoods.