1414-1424 W Devon Ave - Apartments FOR SALE


Chicago, IL 60660- Rogers Park
$5,150,000 USD
773-293-5045
1414-1424 W Devon Ave, Chicago, IL for Sale
$5,150,000 USD
Apartments - FOR SALE
1/5
null | 6.86% Cap Rate

1414-1424 W Devon Ave
Chicago, IL 60660
Rogers Park


HIGHLIGHTS

  • 24-Unit Mixed-Use Property
  • Two and Three Bedroom Apartments
  • Modernized Kitchens - Stainless Steel, Granite Countertops, Hardwood Flooring
  • ~12.00% Upside in Current Rents
  • 0.4 Miles to Loyola University Campus
  • 0.5 miles to Loyola Red Line CTA Station | 0.6 Miles to Lake Michigan

OVERVIEW

Rogers Park is located 10 miles from downtown and is the furthest north side neighborhood in Chicago. With Lake Michigan to its east, Rogers Park spans from Devon Avenue to the south, Ridge Avenue to the west and Howard Street to the north. The area is home to Loyola University Chicago, multiple CTA Red Line stops, and is one of the most diverse neighborhoods in the city. Loyola University Chicago is an economic driver for Rogers Park with 11,919 undergraduate students. For the past three years, Loyola’s incoming first-year class has continued to break the record for the school’s largest class. The large student body population is driving restaurant and local amenity developments. Multifamily development has increased in this neighborhood, including luxury apartments like The Morgan, 415 Premier Apartments, and Albion at Loyola Station. Students have ample assess to public transportation and recreation. The CTA Red Line stops include Howard, Jarvis, Morse, and Loyola. In 2013, the Loyola stop underwent a $17 million renovation that included a plaza. Bus Routes include the #22 (Clark) and #147 (Outer Drive Express). With over one mile of publicly accessible beaches, residents enjoy the natural amenity and beauty of Lake Michigan.

FOR SALE DETAILS

PRICE

$5,150,000 USD

PRICE/SF

$343 USD /SF

# OF UNITS

24

PRICE/UNIT

$214,583

CAP RATE

6.86%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1921

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,245 SF

ZONING

B3-2

APN/PARCEL ID

11-32-327-012-0000

ASK ABOUT THIS PROPERTY

Jacob PriceKiser GroupMore Info
773-293-5045

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Jacob PriceKiser GroupMore Info
773-293-5045

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.