7240 W Devon Ave - Apartments FOR SALE


Chicago, IL 60631
$4,000,000 USD
312-848-6682
7240 W Devon Ave, Chicago, IL for Sale
$4,000,000 USD
Apartments - FOR SALE
1/22
null | 6.05% Cap Rate

7240 W Devon Ave
Chicago, IL 60631


HIGHLIGHTS

  • Rarely Available Newer Construction Asset in Edison Park
  • Commercial Anchored by Dunkin' Donuts and Office for Franchisee
  • High-End Apartments in Low Supply Submarket
  • Strong Parking Ratio with Additional Leased Lot

OVERVIEW

Interra Realty has been exclusively engaged to market 7240 W. Devon Avenue for sale. The subject investment property is a newer construction mixed-use asset in a prime Edison Park location. The property features 10 high-end apartments over three street-level commercial spaces. The residential units feature high ceilings, quality finishes, in-unit laundry and individual HVAC and hot water heaters. They are serviced by a passenger elevator and share a large community balcony. The commercial tenants are Dunkin' Donuts, the office space for the franchisee, and a residential real estate office. Commercial tenants benefit from strong parking ratio and a leased lot provides abundant parking for residential tenants. The offering presents investors with the rare opportunity to acquire a high-quality mixed-use asset in the low velocity Edison Park Neighborhood.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

13

PRICE/UNIT

$307,692

CAP RATE

6.05%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,223 SF

ZONING

B3-1.5

APN/PARCEL ID

09-36-425-049-0000

ASK ABOUT THIS PROPERTY

Joe SmazalInterra RealtyMore Info
312-848-6682

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Joe SmazalInterra RealtyMore Info
312-848-6682

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