5337 W Devon Avenue, Chicago, IL 60646

• 10,683 sqft

Property Description

Prime Chicago Commercial Investment Opportunity: Edgebrook Market multi-tenant neighborhood retail strip center located at 5337-5353 W Devon Ave. This single-story commercial asset spans a gross rentable area of 10,683 SF across 7 highly visible units with one divisible vacant storefront. Situated on a prime corner lot with direct frontage on high-traffic Devon Ave, the property features a dedicated 14-space exterior parking lot and essential rear logistics access via a 16 ft. public alley. Investment Highlights: Immediate Value & Upside: Features a strong going-in cap rate of 4.76%, with a clear path to a 7.92% projected stabilized cap rate upon lease-up of the sole 2,400 SF vacancy (Suite 5347). Low-Management Structure: Fully operational under net lease structures where tenants contribute to taxes, insurance, and maintenance, minimizing landlord overhead. Favorable Zoning: Robust B3-1 (Business Shopping District) zoning supports a diversified, recession-resilient mix of established local service, fitness, and restaurant tenants. Perfect for 1031-exchange or portfolio-driven investors seeking an income-generating asset with verified upside in a high-demand, stable Chicago location.

Listing Status:

Active

Data Last Updated:

July 7, 2026 at 5:18PM

Listing Office:

Essex 312, LLC : 773-516-0661

Listing Agent:

Niko Apostal : 773-516-0661

MLS ID:

12682191

Interior

• Flooring: Varies
• A/C: Central Individual

Construction

• Roofing: Membrane
• General: Concrete Perimeter

Location

• Road/Access: City StreetAlley Access
• HOA Amenities: Not Applicable
• Originating MLS: mred
• County: Cook

Lot

• Zoning: COMMR13041020080000
• Current Use: Commercial

Utilities

• Utilities: Electric to SiteNatural Gas AvailableSewer ConnectedWater AvailableSeparate Meters
• Water: Municipal Water

Financial

• Source: mred