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Listed by Niko Apostalof Essex 312, LLC
-
Est. payment /mo
New
5337 W Devon AVE Chicago, IL 60646
10,683 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 10,683 sqft
MLS Listing ID 12682191
Year Built 1957
Annual Tax Amount $54,350
Tax Year 2024
Lot Dimensions 15681
Property Sub-Type Retail/Stores
Property Description
Prime Chicago Commercial Investment Opportunity: Edgebrook Market multi-tenant neighborhood retail strip center located at 5337-5353 W Devon Ave. This single-story commercial asset spans a gross rentable area of 10,683 SF across 7 highly visible units with one divisible vacant storefront. Situated on a prime corner lot with direct frontage on high-traffic Devon Ave, the property features a dedicated 14-space exterior parking lot and essential rear logistics access via a 16 ft. public alley. Investment Highlights: Immediate Value & Upside: Features a strong going-in cap rate of 4.76%, with a clear path to a 7.92% projected stabilized cap rate upon lease-up of the sole 2,400 SF vacancy (Suite 5347). Low-Management Structure: Fully operational under net lease structures where tenants contribute to taxes, insurance, and maintenance, minimizing landlord overhead. Favorable Zoning: Robust B3-1 (Business Shopping District) zoning supports a diversified, recession-resilient mix of established local service, fitness, and restaurant tenants. Perfect for 1031-exchange or portfolio-driven investors seeking an income-generating asset with verified upside in a high-demand, stable Chicago location.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Individual
Flooring Varies
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Sewer Connected, Water Available
View Y/N true
Roof Type Membrane
Building
Foundation Concrete Perimeter
Water Municipal Water
Structure Type Brick,Brick/Stone Msn Pred
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