For Sale
$4,600,000

1244 W DevonChicago, IL 60660

11 unit mixed-use building located two blocks from the Loyola University Campus

Overview

Added:
Jan 17
Days on market:
79
Kiser Group is pleased to present 1244 W Devon for sale. 1244 W Devon
is an eleven unit mixed-use building located two blocks from the Loyola
University Campus. Built in 2016, the building has historical vacancy of
zero due to the extremely high demand from students. The commercial
space is occupied by GoPuff on a full NNN lease. While the current tenant
base is almost exclusively students, units are rented out conventionally.
New ownership can increase rent by implementing true student housing
management and signing per-bed leases.

The rental units at the 1244 W Devon are the most in-demand unit types
in a post-COVID world. All units are large, have multiple bathrooms, inunit
laundry, in-unit HVAC, and modern finishes. Due to the proximity of
Loyola University, nearly all units are rented by students and have
parents as lease co-signors.

1244 W Devon is located in the Edgewater neighborhood of Chicago near Loyola Chicago's campus.

Highlights

  • Student tenants with near zero historical vacancy Fully occupied commercial space with NNN lease Minimal amount of similar rental product in submarket Turnkey and cash flowing

Property Details for 1244 W Devon

Property type
Mixed-use properties, Residential income homes
Square Feet
21,080 SF
Price / Square Foot
$218.22
Year Built
2016
Buildings
1
Stories
3
Elevators
N/A
Lot Size (sq. ft)
21,080 SF
Units
11

Location Insight

City
Chicago
County
State
Illinois

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1244 W Devon
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