100% Leased Student Housing & NNN Commercial | 1244 W Devon Ave
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100% Leased Student Housing & NNN Commercial 1244 W Devon Ave
10 Unit Apartment Building $6,469,440 CAD ($646,944 CAD/Unit) 7.74% Cap Rate Chicago, IL 60660
Investment Highlights
- Student tenants with near zero historical vacancy
- Minimal amount of similar rental product in submarket
- 1 commercial unit.
- Fully occupied commercial spaces with NNN leases
- Turnkey and cash flowing
Executive Summary
Kiser Group is pleased to present 1244 W Devon for sale. 1244 W Devon
is an eleven unit mixed-use building located two blocks from the Loyola
University Campus. Built in 2016, the building has historical vacancy of
zero due to the extremely high demand from students. The commercial
space is occupied by GoPuff on a full NNN lease. While the current tenant
base is almost exclusively students, units are rented out conventionally.
New ownership can increase rent by implementing true student housing
management and signing per-bed leases.
The rental units at the 1244 W Devon are the most in-demand unit types
in a post-COVID world. All units are large, have multiple bathrooms, inunit
laundry, in-unit HVAC, and modern finishes. Due to the proximity of
Loyola University, nearly all units are rented by students and have
parents as lease co-signors.
is an eleven unit mixed-use building located two blocks from the Loyola
University Campus. Built in 2016, the building has historical vacancy of
zero due to the extremely high demand from students. The commercial
space is occupied by GoPuff on a full NNN lease. While the current tenant
base is almost exclusively students, units are rented out conventionally.
New ownership can increase rent by implementing true student housing
management and signing per-bed leases.
The rental units at the 1244 W Devon are the most in-demand unit types
in a post-COVID world. All units are large, have multiple bathrooms, inunit
laundry, in-unit HVAC, and modern finishes. Due to the proximity of
Loyola University, nearly all units are rented by students and have
parents as lease co-signors.
Data Room Click Here to Access
Property Facts
Unit Amenities
- Dishwasher
- Washer/Dryer
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
Site Amenities
- Security System
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $3,411 CAD | 1,142 |
| 3+2 | 6 | $3,868 CAD | 1,060 - 1,207 |
| 3+3 | 2 | $4,079 CAD | 1,306 |
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $312,120 CAD | |
| Land Assessment | $63,211 CAD | Total Assessment | $375,330 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$63,211 CAD
Improvements Assessment
$312,120 CAD
Total Assessment
$375,330 CAD
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Andy Friedman -
Jake Parker -
Kiser Group
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100% Leased Student Housing & NNN Commercial | 1244 W Devon Ave
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