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    7240 W Devon Ave Chicago, IL 60631

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    For Sale
    $4,000,000

    Newer construction with commercial and residential components in Edison Park.

    Property size:
    22,474 SF
    Lot size:
    0.42 Acres

    Property Features for 7240 W Devon Ave

    General Information

    Size
    22,474 SF
    Lot size
    0.42 Acres

    Source: Interra Realty, LLC Agent Joe Smazal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Edison Park Mixed-Use Asset

    This newer construction asset is located in Edison Park. The property is a mixed-use building with a commercial component anchored by a Dunkin' Donuts and an office for a franchisee. The building also includes high-end apartments in a submarket with low supply. The property benefits from a strong parking ratio, with an additional leased lot. The property size is 22474 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Deborah McCoy - Real ... Real Estate Agent HomeSmart Connect - (Chicago ... Real Estate Agency Tom Kostopoulos- Realtor Real Estate Agent Ali Khan, Homesmart ... Real Estate Agent Wendy Valencia - HomeSmart ... Real Estate Agent

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.808406
    Latitude
    41.9976035

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    FAQs

    What type of property is this?
    Mixed-use property - Newer construction with commercial and residential components in Edison Park.
    Where is this mixed-use property located?
    The property is located at 7240 W Devon Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: - Rarely available newer construction asset; - Commercial anchored by Dunkin’ Donuts; - High-end apartments in low supply submarket
    (312) 361-3140
    Request Owner's contact information
    7240 W Devon Ave Chicago, IL 60631
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7240 W Devon Ave Chicago, IL 60631
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