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5337-5353 W Devon Ave 10 758 pi² 85% Loué Commerce de détail Immeuble Chicago, IL 60646 2 452 555 $ CAD (227,98 $ CAD/pi²) 4,76% Taux de capitalisation
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Faits saillants de l'investissement
- A well-maintained 7-unit retail strip center totaling 10,683 SF, featuring 14 rear exterior parking spaces and B3-1 zoning.
- All tenants are responsible for their pro-rata share of real estate taxes, insurance, utilities, and maintenance, minimizing ownership costs
- 6 of 7 units are occupied by a mix of food and beverage, fitness, and service tenants on leases extending through 2027-28
- The property is ideally positioned along Devon Avenue in Edgebrook, one of Chicago's most enduring retail corridors
Résumé de l'annonce
Essex Three-Twelve is exclusively engaged in the sale of 5337-5353 W Devon Avenue, a 10,683 square foot, seven-unit retail strip center in the Edgebrook neighborhood of Chicago. Six of seven suites are occupied by a diversified mix of service, food-and-beverage, and fitness tenants on leases extending through 2027 and 2028. All leases are structured on a net basis, with tenants responsible for their pro-rata share of real estate taxes, insurance, and operating expenses, a landlord-favorable structure that significantly reduces ownership costs and provides exceptional income predictability.
At current occupancy, the property generates an NOI of $83,346, reflecting a going-in cap rate of 4.76%. The sole vacancy, a 2,400 SF suite with a projected market rent of $17.00/SF, is the single lever required to achieve full stabilization. Upon lease-up, NOI is projected to grow 66% to $138,687, driving a stabilized cap rate of 7.92%, a cash-on-cash return of 7.09%, and a debt coverage ratio of 1.56x.
Devon Avenue is a well-established, high-traffic retail corridor serving a dense and affluent residential base. The B3-1 zoning accommodates the broadest range of retail and service uses, providing maximum flexibility in lease-up strategy. For investors seeking a predominantly stabilized retail asset with an executable path to enhanced yield, 5353 W Devon Avenue presents a compelling opportunity in the Chicago North Side market.
At current occupancy, the property generates an NOI of $83,346, reflecting a going-in cap rate of 4.76%. The sole vacancy, a 2,400 SF suite with a projected market rent of $17.00/SF, is the single lever required to achieve full stabilization. Upon lease-up, NOI is projected to grow 66% to $138,687, driving a stabilized cap rate of 7.92%, a cash-on-cash return of 7.09%, and a debt coverage ratio of 1.56x.
Devon Avenue is a well-established, high-traffic retail corridor serving a dense and affluent residential base. The B3-1 zoning accommodates the broadest range of retail and service uses, providing maximum flexibility in lease-up strategy. For investors seeking a predominantly stabilized retail asset with an executable path to enhanced yield, 5353 W Devon Avenue presents a compelling opportunity in the Chicago North Side market.
Faits sur la propriété
Type de vente
Investissement ou propriétaire utilisateur
Type de propriété
Commerce de détail
Sous-type de propriété
Bien à usage mixte
Taille du bâtiment
10 758 pi²
Classe d’immeuble
C
Année de construction/rénovation
1957/2016
Prix
2 452 555 $ CAD
Prix par pi²
227,98 $ CAD
Taux de capitalisation
4,76%
Revenu net d’exploitation
116 742 $ CAD
Pourcentage loué
85%
Location
Multiples
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,59
Taille du lot
0,42 AC
Zonage
Commercial
Commodités
- Climatisation
Exceptionnellement accessible à pied
90/100
Exceptionnellement adapté aux voitures
100/100
Bons transports en commun
70/100
Moyennement accessible en vélo
70/100
Principaux détaillants à proximité
Impôts fonciers
| Numéro de lot | 13-04-102-008-0000 | Évaluation des bâtiments | 29 678 $ CAD |
| Évaluation du terrain | 38 380 $ CAD | Évaluation totale | 68 058 $ CAD |
Impôts fonciers
Numéro de lot
13-04-102-008-0000
Évaluation du terrain
38 380 $ CAD
Évaluation des bâtiments
29 678 $ CAD
Évaluation totale
68 058 $ CAD
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5337-5353 W Devon Ave
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