Neighborhood Retail
For Sale
Contact for pricing
5430 West Devon Avenue, Chicago, IL 60646
Service-oriented tenants and daily-needs retailers occupy a well-established neighborhood shopping center in Chicago’s Edgebrook community.
Property Size11,902 SF
Price / SF$202.44
Days on Market173
Property Features for 5430 West Devon Avenue
General Information
Standard status
Active
Size
11,902 SF
Total Parking Spaces
6
Property subtype
Retail, Office, Mixed Use
Occupancy
87%
Lease Type
Net
Investment Type
Value Add
Net Operating Income
$168,664
Site & Location
Corner Location
Yes
Traffic Count
22,400 vehicles/day
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
CBRE - Oak Brook
Listed By:
Adam Foret · License #IL 475160621
Source:
Crexi
Added: Apr 28
Changed: Oct 4
Last Checked: Oct 16 at 9:28AM
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 CBRE - Oak Brook
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 11,902-square-foot neighborhood shopping center in Chicago’s Edgebrook community is occupied by a mix of service and daily-needs tenants, including USPS, Baird & Warner, Archie Doratie Co, Tax, Titles & Plates, and Little Nest. The property is currently 87.4% occupied and includes a 1,500-square-foot vacancy.
The center sits at the intersection of Devon Avenue and Kinzua Avenue, with Devon Avenue reporting 22,400 VPD. Metra’s Milwaukee District North Edgebrook Station is located just steps from the property, adding rail access to the surrounding commercial setting. The offering includes 100% fee simple interest in the retail center.
The center sits at the intersection of Devon Avenue and Kinzua Avenue, with Devon Avenue reporting 22,400 VPD. Metra’s Milwaukee District North Edgebrook Station is located just steps from the property, adding rail access to the surrounding commercial setting. The offering includes 100% fee simple interest in the retail center.
Key Highlights
- 11,902‑square‑foot neighborhood shopping center
- 87.4% occupied with a 1,500‑square‑foot vacancy
- 22,400 VPD reported along Devon Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,662
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,293,240
$3.3M
Cap Rate 7%
$2,352,314
$2.4M
Cap Rate 9%
$1,829,578
$1.8M
Market Conditions
NOI Build-Up for 11,902 SF
Gross rent
$257.1K $21.60/SF
− Vacancy
−$21.9K −$1.84/SF
EGI
$235.2K $19.76/SF
− OpEx
−$70.6K −$5.93/SF
NOI
$164.7K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,293,240
Cap Rate 7%
$2,352,314
Cap Rate 9%
$1,829,578
Alternative Uses
Best Use
Retail
$2.35M
$2.06M – $2.74M
NOI $164,662 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.61M
$4.91M – $6.55M
NOI $392,823 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
22,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Home Improvements & Furnishings 24%
Dining 5%
BP
Shops & Services
16,318 visits/mo
0.1 miles
Edgebrook Ace Hardware
Home Improvements & Furnishings
5,767 visits/mo
0.1 miles
Domino's Pizza
Dining
1,119 visits/mo
0.1 miles
Associated Bank
Shops & Services
979 visits/mo
0.1 miles
Demographics for 60646, IL
28,383
Population
11,636
Households
2.4
Avg Household Size
44
Median Age
58%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
6,451
Density / Sq Mi
$111,115
Median Household Income
$66,105
Median Earnings
$1,241
Median Rent
$493,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
What type of property is this?
Shopping center - Service-oriented tenants and daily-needs retailers occupy a well-established neighborhood shopping center in Chicago’s Edgebrook community.
Where is this shopping center located?
The property is located at 5430 West Devon Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $2,409,485.
What are key features of this property?
This property features: 11,902‑square‑foot neighborhood shopping center; 87.4% occupied with a 1,500‑square‑foot vacancy; 22,400 VPD reported along Devon Avenue
