Deva Development

Deva Development is a new Chicago real estate company that was founded in 1999. The company is responsible for several major projects around the city.

Deva Development has worked on projects ranging from single family homes to large condominium developments.

The company is owned by Viktor Jakovljevic. Mr. Jakovljevic started in the real estate market in Chicago in the mid 90s, and is now joined by a team of real estate professionals that combine years of expertise to bring quality developments.

The company averages $15 million in average sales. Deva Development delivers about 50 new properties a year.

Deva Development is the company behind the new condominiums at 1855-1923 W. Diversey. The development offers three bedroom condominiums. Retail space is also for sale on the ground floor.

Prices for the three bedroom units start in the mid $400s. Prices for the retail space start at just over $130,000.

Amenities include individual balconies and private rooftop decks for the top floor condominiums. The condos come with washer and dryer, stainless steel appliance package, and separate shower and tub.

Another Deva Development project is located just a few blocks away at 2602-2622 W. Diversey.

This innovative condominium project offers one-, two-, and three-bedroom condos. There are also several retail units available on the ground floor. Prices for the retail space start at $230,000.

There are several three-bedroom units available in the development. Prices range from $439,000 to $460,000 for units with 1,900 square feet of living space.

Amenities include a gas fireplace, individual balconies and central air conditioning. Kitchens come with a GE appliance package, granite countertops, and top-of-the-line finishings throughout.

Deva Development is also building luxury condominiums at 1440 South Wabash. Plans call for completion of the project in spring of 2008.

Buyers can choose from several floor plans. One-, two-, and three-bedroom condominiums are available. Prices for a one-bedroom unit start at $260,000. Three-bedroom, 1,450 square foot condominiums are priced at $445,000 to $475,000.

Amenities include private parking and ground floor retail space. The condominiums come with private rear balconies, stainless steel appliance package, and Jacuzzi tub.

Yet another project currently underway is located at Diversey and Natoma. Deva Development is building one- and two-bedroom units at 6604-6620 W. Diversey.

Prices for a one-bedroom condo at this development start at just over $200,000.

The building comes with a rooftop deck with open views of the city. Each unit comes with a GE appliance package and central air conditioning.

Delivery of these luxury condominiums is planned for late next year.

Most of Deva Development’s projects are centered around Elmwood Park, a suburb west of Chicago.

The area has seen a lot of growth in condo sales. According to the Chicago Association of Realtors, during the second quarter of this year a total of 112 condominiums were sold in Elmwood Park.

This is 12 percent higher than the same period last year and 60 percent higher than the number of condos sold during the second quarter of 2005.

The average sales price for a condo in Elmwood Park has remained steady for the last two years. A condo sells for an average $179,455 in the neighborhood.