1325 W Devon
1325 W Devon | Chicago, IL 60660
$3,425,000
Sale Price
Property Details
| Sale Price: | $3,425,000 |
| Year Built: | 2016 |
| Property Type: | Multifamily |
| Building Size: | 10,433 SF |
Property Description
Kiser Group is pleased to present 1325 W Devon for sale. 1325 W Devon is a seven unit mixed-use building located two blocks from the Loyola University Campus. Built in 2016, along with 1244 W Devon, the building has historical vacancy of zero due to the extremely high demand from students. The commercial space is occupied by Athletico 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 Devon Collection are the most in-demand unit types in a post-COVID world. All units are large, have multiple bathrooms, in-unit laundry, in-unit HVAC, and modern finishes. Due to the proximity of Loyola University, nearly all units are leased by students and have parents as lease co-signors.
1325 W Devon can be sold alone or in a package with 1244 W Devon and/or 1301 W Devon.
Location Description
1325 W Devon is located in the Edgewater neighborhood of Chicago near Loyola Chicago's campus.
Highlights
- Student housing with current and historical 100% occupancy
- Fully occupied commercial spaces with NNN leases
- Minimal amount of similar rental product in submarket
- Turnkey and cash flowing
- Can be sold alone or in a package with 1301 W Devon
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| 0.25 Miles | 0.5 Miles | 1 Miles | |
|---|---|---|---|
| Total households | 3,026 | 11,898 | 37,907 |
| Total population | 6,288 | 25,985 | 76,831 |
| Population white | 66.5% | 63.0% | 58.3% |
| Population black | 10.3% | 14.7% | 18.2% |
| Population hispanic | 15.1% | 15.8% | 17.6% |
| Population asian | 8.4% | 10.4% | 12.8% |
| Population pacific islander | 0.0% | 0.0% | 0.0% |
| Population american indian | 0.0% | 0.1% | 0.1% |
| Population other | 4.0% | 4.4% | 4.4% |
| Persons per household | 2.1 | 2.2 | 2 |
| Average household income | $65,350 | $65,183 | $64,425 |
| Average house value | $322,547 | $266,193 | $238,115 |
| Average age | 32.5 | 30.1 | 34.5 |
| Average age male | 38.3 | 32.7 | 35.3 |
| Average age female | 27.6 | 28.9 | 33.6 |