5301 Devon AveChicago, IL 60646

Property Details for 5301 Devon Ave

Year built

1958

Lot size

0.07 AC

Property size (Sq ft)

2,500 SF

Property type

Retail properties

Property subtype

Retail space

APN

13-04-103-038

APU

1304103038

Description

This fee-simple investment opportunity presents a 2,200 square foot medical office building in Chicago, IL, at 5301 W Devon Ave, zip code 60646. The property is currently 100% occupied by Heartland Veterinary Partners, operating as Chicago Cat Clinic, under a net lease (NNN) with a corporate guarantee. The current lease has approximately one year remaining, followed by a three-year option with a 3% annual rent increase. The building, constructed in 1958, boasts a strong 8.75% cap rate and a net operating income (NOI) of $56,160, with an asking price of $642,000. The property benefits from a high-traffic location, with approximately 69,600 vehicles passing daily, and proximity to the Edgebrook Metro Station, providing easy access to downtown Chicago. Situated within a dense residential area, the property enjoys a strong demographic profile, including over 800,000 residents within a 5-mile radius and an average household income of $182,000 within a 1-mile radius. Furthermore, its proximity to high-performing shopping centers, Village Crossing and Pointe Plaza, further enhances its appeal. Heartland Veterinary Partners, a reputable operator with over 350 locations, provides a stable tenant base. This presents a compelling investment opportunity in a thriving Chicago neighborhood.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9971

Longitude

-87.7612

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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