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3018 W Devon Avenue, Chicago, IL

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3018 W Devon Avenue

Chicago, IL 60659-1494 - West Rogers Park MF Submarket

Property Type:Multi-Family Number of Units:10 Status:Existing Year Built:1965
Stories:3 Building Size:14,427 SF Land Area:.14 AC (6,098 SF)
For Sale Price:$1,399,000 Price/Unit:$139,900.00 Cap Rate:- GRM:-

Parking:.67 Parking Spaces / 1,000 SF

Property Description: RETAIL WITH APARTMENTS

Sale Notes:
Essex Realty Group, Inc. has been exclusively engaged to market for sale 3018 W. Devon Avenue, a 10-unit mixed-use building located in Chicago's West Ridge neighborhood. The unit mix consists of two (2) 1 Bd/1 Ba apartments, six (6) 2 Bd/1 Ba apartments, two (2) street-commercial spaces and 5-6 exterior parking spaces. All unit have eat-in kitchens and large bedrooms, and the building was rehabbed in 2016.

The property is situated on the north side of Devon Avenue, between Whipple Street and Sacramento Avenue in West Ridge, and is within walking distance of a multitude of boutique shops and restaurants. Devon Avenue is widely known throughout the city for having some of the best ethnic restaurants. In addition, the property is located within close proximity to many public green spaces including Warren Park, Lincolnwood Centennial Park and the North Shore Channel Trail which follows the Chicago River North from Lawrence Avenue to Emerson Street in Evanston, IL.

3018 W. Devon Avenue presents a buyer with both a turn-key investment opportunity, as well as a value-add investment opportunity. While all apartments are rented and generating strong income, a new owner may increase the income at the property materially by leasing up the one currently vacant commercial space. Conversely, the vacant commercial space may also offer an owner-user the opportunity to occupy the space with their own business, while generating additional income from the balance of the building.

Essex Realty Group
Doug Imber
(773) 305-4902

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