Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    807 Devon Ave Park Ridge, IL 60068
    Back to Search
    Property profile & analytics

    807 Devon Ave, Park Ridge, IL 60068

    View on Map
    • Retail residential properties
    • 0.06 lot acres
    For Lease
    $23 SF/Yr
    View Listing →
    Retail Space on Devon Avenue For Lease
    $23 SF/Yr
    1,950 SF

    Retail Space on Devon Avenue

    Retail spaces available with parking and high traffic.

    807 Devon Ave, Park Ridge, IL
    View Listing
    Property ID
    US28-0777345
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • loanDepot / Loan Service / Bank
    • Shannon Serr - loanDepot / Loan Service / Bank
    • Joshua Jones- loanDepot / Loan Service / Bank
    • David DeMars - loanDepot / Loan Service / Bank
    • Patryk Ziegler NMLS#846112 loanDepot / Loan Service / Bank

    Property Details for 807 Devon Ave

    Year built
    1958
    Lot size
    0.06 lot acres
    Property type
    Retail residential properties
    APN
    12-02-200-008
    APU
    1202200008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 23, 2020 — Skyline Home Investments LLC Devon — Deed · related $2.7M · Royal Savings Bank
    Dec 23, 2016 — Skyline Home Investments LLC Devon — Deed · related $350k · Amalgamated Bank Of Chicago
    Mar 14, 2014 — Skyline Home Investments LLC Intercounty Judicial Sales Grant Deed · related —
    Mar 17, 2000 $1,550,000 La Salle Bank NA Trustee Chicago Title Land Trt Co Ttee Quit Claim Deed · related $1.2M · Midwest Bank Mchenry County
    — — Trust 123036 — Deed Of Trust · related $1.2M · Midwest Bank & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Park Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.8357
    Latitude
    41.9962
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $9,649
    $4,950
    $32,453
    $37,403
    -
    $49,500
    $324,530
    $374,030

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      807 Devon Ave, Unit 17

      STORES & APARTMENTS
      807 Devon Ave, Park Ridge, IL 60068-4736
      View Details
    • Value Estimation by Request
      0.23 Acres

      15 Prospect Ave

      STORES & APARTMENTS
      15 Prospect Ave, Park Ridge, IL 60068-4120
      View Details
    • Value Estimation by Request

      1110 Courtland Ave

      STORES & APARTMENTS
      1110 Courtland Ave, Park Ridge, IL 60068
      View Details
    • Value Estimation by Request
      0.06 Acres

      807 Devon Ave, Unit 17

      STORES & APARTMENTS
      807 Devon Ave, Park Ridge, IL 60068-4736
      View Details
    • Value Estimation by Request
      0.13 Acres

      807 Devon Ave, Unit 17

      STORES & APARTMENTS
      807 Devon Ave, Park Ridge, IL 60068-4736
      View Details
    • Value Estimation by Request
      0.09 Acres

      508 Higgins Rd

      STORES & APARTMENTS
      508 Higgins Rd, Park Ridge, IL 60068-5732
      View Details

    Similar Nearby for Sale

    • $1,500,000

      Uptown Park Ridge Multi-Use Building

      Multi-use building in prime Uptown Park Ridge location.
      35 S Prospect Ave, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      10,186 SF

      Mixed-Use Property in Park Ridge

      Mixed-use investment property with income and owner/user potential.
      776 Busse Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      9,668 SF

      Park Ridge Multifamily Investment Opportunity

      Recently renovated, fully leased 8-unit building near Iroquois Woods.
      20 S Dee Rd, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      70,144 SF

      Grocery-Anchored Retail Collection For Sale

      Grocery-anchored retail collection in affluent Park Ridge, Illinois.
      10 N Northwest Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Waterford Place Condo Near Uptown

      Move-in ready condo in Park Ridge near transportation and restaurants.
      460 NORTHWEST Hwy #409 Park, Park Ridge, IL 60068
      View Details
    • $1,400,000

      Prime Lot in Downtown Park Ridge

      22,750 sq ft lot in bustling downtown Park Ridge.
      820 Talcott Rd, Park Ridge, IL 60068
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr

      Park Ridge Office Space Available

      Office spaces for rent near Advocate Lutheran General Hospital.
      1550 N Northwest Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Convenient Office Park Near I-294

      Affordable office space near major transportation routes and amenities.
      1460 Renaissance Dr, Park Ridge, IL 60068
      View Details
    • Contact for pricing
      7,269 SF

      Park Ridge Office Space Available

      Office space for rent in Park Ridge, Illinois.
      250 S Northwest Hwy, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Class-A Office Near O'Hare Airport

      Class-A office and medical building near O'Hare and public transit.
      1300 W Higgins Rd, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      Renovated Office Space Near Transit

      Move-in ready office with convenient access to transportation and amenities.
      1030 W Higgins Rd, Park Ridge, IL 60068
      View Details
    • Contact for pricing

      IL, Park Ridge - Prospect Ave

      Discover many ways to work your way in DC, Washington - 600 Mass Ave
      222 Prospect Ave, Park Ridge, IL 60068
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    807 Devon Ave
    Park Ridge, IL 60068
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    807 Devon Ave, Park Ridge, IL, 60068
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!