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Property profile & analytics
FOR SALE
Retail residential properties
7240 W Devon Ave Chicago, IL 60631
Entity Owned
~
Est. High Equity
Property ID
US28-5400130
For Sale
1 / 2
$4,000,000
7240 W Devon Ave, Chicago, IL 60631
View Listing →
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2006
Total area
1,800 SF
Lot
0.37 ac (16,310 SF)
APN
09-36-425-049
UPID
US28-5400130
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Deborah McCoy - Real Estate Agent Real Estate Agency
-
HomeSmart Connect - (Chicago - Edison Park) Real Estate Agency
-
Tom Kostopoulos- Realtor Real Estate Agency
-
Ali Khan, Homesmart Connect LLC Real Estate Agency
-
Wendy Valencia - HomeSmart Connect Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.64M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.29M
Owner & transaction history
Wit Properties 7240 LLC
Wit Properties 7240 LLC
since 2025
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chicago submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chicago submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,515,000
ML approach
$4,640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.29M
Range $3.86M – $4.72M · ±10% · vs last sale $4.00M (Oct 1 2021)
Last sale anchor
$4.00M
Oct 1 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$2,383 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$42,933
Tax year 2022
Assessed value
$208,734
Assessed 2022
Previous assessed
$208,734
+0.0% YoY
Effective rate
20.57%
On assessed value
Assessed land
$29,358
Assessed improvement
$179,376
Land market value
$293,580
Improvement market value
$1,793,760
Total market value
$2,087,340
Applied tax rate
71,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Sale
Year built
2006
Heating
NONE
Stories
1
Total area
1,800 SF
Lot
0.37 ac (16,310 SF)
APN
09-36-425-049
UPID
US28-5400130
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2006
Heating
NONE
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
Wit Properties 7240 LLC
Entity
Mailing address
6446 N CENTRAL AVE, CHICAGO, IL 60646-2935
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2025
$3,841,500
Wit Properties 7240 LLC
7240 W Devon Avenue LLC
Warranty Deed
$2,689,000 · Marquette Bank
Oct 1, 2021
$4,000,000
7240 W Devon Avenue LLC
Devon Investment Partners LLC
Special Warranty Deed
$2,800,000 · Lake Forest Bank & Trust Co NA
Apr 18, 2013
$1,100,000
Devon Investment Partners LLC
Series Y Of Ibt Holdings LLC
Grant Deed
$1,680,000 · Cole Taylor Bank
Dec 13, 2012
—
Series Y Of Ibt Holdings LLC
Intercounty Judicial Sales Cor
Trustees Deed
related
—
Jan 16, 2008
$1,200,000
7240 W Devon LLC
Belstav Dev INC
Warranty Deed
$2,990,000 · Cambridge Bank
Feb 21, 2006
—
Louis Belpedio
—
Trustees Deed
related
$80,000 · Associated Bank
Sep 30, 2005
$1,050,000
Louis Belpedio
Finco,donald A & Gloria C
Grant Deed
$840,000 · Associated Bank
Sep 8, 2005
—
Belstav Dev INC
Belpedio,louis
Quit Claim Deed
related
—
—
—
7240 W Devon LLC
—
Deed Of Trust
related
$3,375,000 · Inland Bank & Trust
—
—
Devon Investment Partners LLC
—
Deed Of Trust
related
$2,200,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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