investment highlights
- EXCELLENT DEMOGRAPHICS // The growing three-mile trade area boasts average household incomes exceeding $128,000, supported by a strong population base of roughly 369,504 residents and 192,000 households. These fundamentals reinforce durable demand and long term stability for the asset.
- PREMIER CHICAGO MARKET // Located within the Chicago MSA, the nation’s third-largest metropolitan area, the property benefits from exceptional population density, a diverse economic base, and strong barriers to entry that support long-term self-storage demand and institutional investment activity.
- DENSE DEMAND DRIVERS // Surrounded by established neighborhoods including South Loop, Chinatown, and Pilsen, the property is supported by a robust population base, strong institutional employment, higher education campuses, tourism activity, and convenient access to major transportation networks.
- VALUE-ADD UPSIDE // With physical occupancy currently around 91 percent, the property offers meaningful upside through continued lease-up, strategic revenue management, and operational optimization. Supported by its prime South Loop location and strong urban demand drivers, the facility presents an attractive opportunity to grow revenue and enhance long-term value.
property summary
Devon Self Storage is a 675-unit, 89,198 net rentable square foot self-storage facility located in Chicago, Illinois. The property comprises 70,836 net rentable square feet of multistory climate-controlled self-storage space and 18,362 net rentable square feet of dedicated wine storage, offering a diversified unit mix. Situated on approximately 0.92 acres, the facility was originally converted in 1989 and is well positioned to serve the surrounding dense urban population.
The facility offers a comprehensive suite of amenities designed to support secure and convenient storage, including multiple secure loading bays with elevator access, a gated entry with digital keypad access, an on-site management office, and 24/7 video surveillance throughout the property. Additional features include durable concrete driveways and and drive up portable units in the rear of the facility, enhancing accessibility and operational efficiency.
Located just south of Downtown Chicago, and east of I-90, in the highly active South Loop corridor, the property benefits from proximity to major demand drivers such as McCormick Place, the Illinois Medical District, and the University of Illinois Chicago. The site is minutes from established, walkable neighborhoods including the South Loop, Chinatown, and Pilsen, which provide a strong residential base, retail amenities, and cultural attractions. Convenient access to CTA bus routes and nearby rail stations strengthens regional connectivity and places the facility within a dense urban infill area supported by institutional employment, tourism, education, and ongoing growth.
