5301 Devon Ave Chicago, IL 60646-4107

Property Details for 5301 Devon Ave

Year built

1958

Lot size

0.07 lot acres

Property size

2,500 SF

Property type

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

Longitude

-87.7612

Latitude

41.9971

CBSA code

16980

CBSA name

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

Property Tax & Assessments