1523 West Devon Avenue Chicago, IL 60660
Two storefronts with apartments near the lakefront and Loyola University.
- Added:
- Jan 20, 2026
- Days on Market:
- 173
- Last Refresh:
- Jul 5 at 2:03 am
Property Features for 1523 West Devon Avenue
General Information
- Standard status
- Active
- Size
- 2,825 SF
Building Details
- Year Built
- 1901
Listing office Jameson Sotheby's Int'l Realty (773) 295-4387
Listing date Jan 20, 2026
Source Compass
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Jameson Sotheby's Int'l Realty
Investment Insights
Based on property information with market context.
Key Highlights
- Strong income generation from fully rented property
- Prime location near lakefront and Loyola University
- Two commercial storefronts plus two apartments
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.8k | $30.00 |
| − Vacancy | −$8.5k | −$3.00 |
| EGI | $76.3k | $27.00 |
| − OpEx | −$28.6k | −$10.13 |
| NOI | $47.7k | $16.88 |
