The Shoppes of Edgebrook
$2,950,000
5400 West Devon Avenue, Chicago, IL 60646
8.81
Cap Rate
259,934
NOI
Details:
Highlights:
- IRREPLACEABLE, DENSE, URBAN INFILL REAL ESTATE: Located in Chicago’s Edgebrook neighborhood, The Shoppes of Edgebrook serves a dynamic, densely populated trade area that benefits from incredible traffic on both weekdays and weekends. Within two miles of the Property is a population over 78,188 residents and approximately 132,575 residents live within the trade area. Average household incomes within this trade area are also exceptional with residents earning an average household income of $133,394 within a two-mile radius.
- VALUE-ADD OPPORTUNITY: The Property is currently 83% occupied with two vacant units. One 1,973-square foot unit, and a 1,030-square foot unit. The Property offers new ownership the opportunity to drive NOI growth through leasing of the remaining vacancy.
- DARK STARBUCKS: Starbucks is dark but paying all obligations per their lease through February 28, 2026. A future investor will have the ability to cashflow Starbucks rent and have time to lease up the 1,802-square-foot space. Market rent assumptions of $25 per square foot were used in analysis. See financial section for more detail.
- EXCELLENT ACCESS & TRANSIT ORIENTED SITE: The Property is highly visible from Devon Avenue (22,000 VPD), a major east-west thoroughfare. The site is also within proximity to Caldwell Avenue (18,070 VPD), Central Avenue (14,300 VPD) and Interstate 94 (146,650 VPD), providing incredible access to the site from all directions. Additionally, The Shoppes of Edgebrook is located 200 feet east of Metra’s Milwaukee District North Edgebrook Station providing direct access to Downtown Chicago.
- FREE AND CLEAR OFFERING: The Shoppes of Edgebrook is offered free and clear of existing debt. This enables investors to structure their capital requirements according to their needs and if desired, leverage the acquisition with debt that is currently available at attractive interest rates and terms.
- ROBUST CHICAGO MSA: Chicago is home to the third largest economy and is the third most populous MSA in the nation (Chicago MSA Population: 9.6 million). The city’s vibrant business climate, central geographic location, diversified economy, and available human resources have helped Chicago achieve a prominent position as a world class city in finance, international trade, manufacturing, transportation, culture and the arts.
Description:
Qualified investors are extended the opportunity to acquire a 100% fee interest in The Shoppes of Edgebrook, a 17,710-square-foot retail center. The property is 83% occupied with essential tenants including Domino’s, Sunflower Academy, Israel Warrens Dentistry, and KingPho. The Property is located at the high-traffic intersection of Devon and Central Avenues in the Edgebrook neighborhood of Chicago with over 36,300 vehicles passing per day. Edgebrook is a densely populated, affluent neighborhood on the northwest side of the city, approximately 12 miles from downtown Chicago. The Property is situated 200 feet from the Metra’s Milwaukee District North train station, providing direct access to Chicago’s central business district.
Documents:
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The_Shoppes_of_Edgebrook_CBRE_OM.pdf
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The_Shoppes_of_Edgebrook_Brochure_CBRE.pdf
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Location

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