Essex Realty Group Brokers the Sale of a 32-Unit Mixed-Use Building in West Ridge

2349 W. Devon Avenue is a 32-unit corner mixed-use building located at the hard, stop-lit corner of Devon Avenue and Western Avenue in Chicago's West Ridge neighborhood. The unit mix consists of thirteen (13) studios, eleven (11) 1-bedrooms, one (1) 2-bedroom and seven (7) street-level commercial spaces (totaling approximately 8,097 square feet). The commercial space is 100% occupied and the building has received many recent capital improvements, such as newer 2400 AMP electric service and a complete tear-off roof.

The property is situated on the southeast corner of Devon and Western Avenues. Located right in the heart of the Devon Avenue commercial corridor, the building benefits from high levels of daily foot traffic. The property is located within steps of a multitude of boutique shops and restaurants. Devon Avenue is widely known throughout the city for having some of the best ethnic restaurants. In addition, the property is within proximity to many public green spaces including Warren Park, Lincolnwood Centennial Park and the North Shore Channel Trail which follows the Chicago River North from Lawrence Avenue to Emerson Street in Evanston, IL. Additionally, the property provides tenants with easy access to both the Western Avenue and Devon Avenue CTA bus lines.

The sale price was approximately $3,050,000.

Abe Eilian and Doug Fisher represented the seller and Brian Kochendorfer, Brian Karmowski, and Troy Beebe represented the buyer on the transaction.