1344 W Devon Ave
Chicago, IL 60660
Edgewater Mixed-Use Building 8.37% Cap Rate · Multifamily Property For Sale · 7 Units

1344-1346 W. Devon is a recently renovated mixed use building. It is comprised of (2) 2Bdr/2Ba, (2) 3Bdr/2ba, (2) 3Bdr/1Ba, and (1) commercial space. The commercial space has a long-term lease with Anytime Fitness who has over 2,700 franchised locations worldwide. The residential tenants pay for electric and gas, they do not pay for water. The building features: hardwood floors throughout, large porches, new cabinetry and some granite counter tops in the kitchens. The spacious units are approximately 1100 SF. Anytime Fitness as well as four (4) of the six (6) apartments units have individual furnaces with AC. The roof is brand new and was a complete tear off. The basement and first floor have brand new copper plumbing. Additionally, there are six (6) parking spaces located behind the building. The building is 0.4 miles away from the Loyola El Station and is walking distance to Loyola University. Edgewater is a lakefront community area on the North Side of the city of Chicago, Illinois seven miles north of the Loop. As one of Chicago's 77 official community areas, Edgewater is bounded by Foster Avenueon the south, Devon Avenue on the north, Ravenswood Avenue on the west, and Lake Michigan on the east.[3] Edgewater contains several beaches that residents enjoy in the late spring, summer, and early autumn. Chicago's largest park, Lincoln Park, stretches south from Edgewater for seven miles along the waterfront, almost to downtown. Historically, Edgewater was the northeastern corner of Lake View Township, an independent suburb which was annexed by the city of Chicago in 1889. Today, the Uptown community is to Edgewater's south, Lincoln Square to its west, West Ridge to its northwest and Rogers Park to its north. Edgewater was first developed around the 1880s as a summer home for Chicago's elite. Today, it provides the northern terminus of both Lincoln Park and Lake Shore Drive. With the exception of pockets acknowledged as historic districts (like the Bryn Mawr Historic District), east-Edgewater boasts a skyline of high-rise apartment buildings and condominium complexes.