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2944 W Devon Ave 7 Unit Apartment Building $1,600,000 ($228,571/Unit) 7.50% Cap Rate Chicago, IL 60659
INVESTMENT HIGHLIGHTS
- Very rare offering, This great 3 story, 7 Unit commercial mixed-use building is for sale at 2944 W Devon.
- Valuable opportunity for an Investor, Developer or end user to acquire a boutique mixed use building right in the heart of Rogers Park.
- On the first floor, There is a 3300 SQ FT Very busy Retail Bakery in operation, The Bakery features a Fantastic business location with great signage
- The building features a Classic facade. Building is 8975 SQ FT, Land Site is approx. 6250 SQ FT, B1-2 Zoning.
- Great visibility and very high traffic at this location - 26,700 Vehicles Per Day on Devon, Very heavy pedestrian traffic, Very vibrant retail area.
- On floors two and three there are 2-1bed-1ba units, 2-2Bed 1 Bath units, 3-3Bed 1 Bath units.
EXECUTIVE SUMMARY
Very rare offering, This great 3 story, 7 Unit commercial mixed-use building is for sale at 2944 W Devon. The building features a Classic facade. Building is 8975 SQ FT, Land Site is approx. 6250 SQ FT, B1-2 Zoning. Valuable opportunity for an Investor, Developer or end user to acquire a boutique mixed use building right in the heart of Rogers Park. Not to mention Great visibility and very high traffic at this location - 26,700 Vehicles Per Day on Devon, On the first floor, There is a 3300 SQ FT Very busy Retail Bakery in operation, The Bakery features a Fantastic business location with great signage visibility. Very heavy pedestrian traffic, Very vibrant retail area. On floors two and three there are 2-1bed-1ba units, 2-2Bed 1 Bath units, 3-3Bed 1 Bath units. Rear parking lot with 2 spaces, Close to area expressways and Public transportation options include CTA Bus Stops along Devon Avenue. This property is surrounded by retail and restaurants. Area retailers include, Dunkin, city fresh market, Anmol barbeque, Dollar tree, Delhi Darbar Kabab House, Kol Tuv Kosher Foods, Rosens Morse view Pharmacy, The Turnkey Bakery is also for sale for $400,000. Price is negotiable, Please note; Ownership will listen to all offers within reason. Do not bother tenants, Please call listing agent for a showing.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$141,000
|
$15.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$141,000
|
$15.71
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$21,000
|
$2.34
|
| Net Operating Income |
$120,000
|
$13.37
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $141,000 |
| Annual Per SF | $15.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $141,000 |
| Annual Per SF | $15.71 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $21,000 |
| Annual Per SF | $2.34 |
| Net Operating Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $13.37 |
PROPERTY FACTS
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 10-36-324-020-0000 | Improvements Assessment | $95,975 (2024) |
| Land Assessment | $28,125 (2024) | Total Assessment | $124,100 (2024) |
PROPERTY TAXES
Parcel Number
10-36-324-020-0000
Land Assessment
$28,125 (2024)
Improvements Assessment
$95,975 (2024)
Total Assessment
$124,100 (2024)
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2944 W Devon Ave
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