1032 Devon AveElk Grove Village, IL 60007

Property Details for 1032 Devon Ave

Year built

1997

Lot size

0.89 AC

Property type

Office properties

APN

08-31-400-063-1007

APU

8314000631007

Description

This 1,500-square-foot mixed-use building in Elk Grove Village, Illinois, presents a unique owner-user opportunity. Located at 1032 W Devon Ave, 60007, this property boasts high visibility with frontage on Devon Avenue, experiencing over 50,000 cars daily. Its convenient location offers easy access to major interstates and O'Hare Airport. Built in 1998, the building features a traditional office layout with a spacious rear storage/warehouse area, complete with a 16-foot overhead automated garage door. The interior is well-maintained, showcasing clean paint, oak trim, six-panel oak doors, vinyl plank flooring, carpeted private office space, kitchen cabinets, and a heated garage. Four parking spaces are available on-site. The property's versatile design is ideal for a business seeking a combination of office space, showroom, and warehouse storage, all under one roof. This represents a compelling alternative to renting, offering the potential for significant long-term cost savings. The net rentable square footage is 1,500 square feet. This is a for-sale-by-owner property.

• CAP approach

  CAP return

  Valuation

  6%

  $6,992,620

  6.5%

  $6,454,726

  7%

  $5,993,674

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,931,688

  Geo Method

  $5,044,192

• Alternative Use

  Use

  Valuation

  Residential

  $8,003,860

  Hospitality

  $7,331,492

  Educational

  $6,099,716

  Medical

  $6,309,494

  Retail

  $9,488,447

Location Insight

City

Elk Grove Village

County

Cook

State

Illinois

Latitude

41.993

Longitude

-88.0263

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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