Victorian
1014 Garnett Place, Evanston, IL 60201
For Sale
$999,000
All three apartments are leased under executed agreements, with a distinct layout in each unit.
Property Size2,242 SF
Price / SF$445.58
Days on Market160
Property Features for 1014 Garnett Place
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Gross Income
Gross Rent Multiplier
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
in-building laundry
private back open deck
Building Details
Year Built
Buildings
Construction
Tenancy
Listing Agency:
E & Associates Leasing Realty Group, LLC
(773) 818-3100
Listed By:
Edward Papabathini
Source:
Premier-relocation
Added: Jun 3
Changed: Nov 8
Last Checked: Nov 8 at 4:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of E & Associates Leasing Realty Group, LLC
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Investment Insights
Based on property information with market context.
This 1890 Victorian triplex in Evanston contains three apartments totaling 8 bedrooms, 4 full bathrooms, and 2,242 square feet. The first unit is a 4-bedroom-plus-office duplex-down with 2 bathrooms; upstairs are a 2-bedroom-plus-office apartment with 1 bathroom and a third-floor 2-bedroom, 1-bath unit. Each apartment has a private rear open deck. Hardwood flooring and laundry within the building are additional features. All three units are leased under executed agreements.
Northwestern University’s campus is 0.3 miles away. The Foster CTA Purple Line station is 0.2 miles from the property, and Davis Street Metra station is 0.4 miles away. The property has a 13.3 GRM.
Northwestern University’s campus is 0.3 miles away. The Foster CTA Purple Line station is 0.2 miles from the property, and Davis Street Metra station is 0.4 miles away. The property has a 13.3 GRM.
Key Highlights
- Three apartments with 8 bedrooms and 4 full bathrooms across 2,242 square feet
- Unit mix includes a 4BR+Office/2BA duplex‑down, a 2BR+Office/1BA apartment, and a 2BR/1BA third‑floor unit
- Private rear open deck for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,092
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,840
$581.8K
Cap Rate 7%
$415,600
$415.6K
Cap Rate 9%
$323,244
$323.2K
Market Conditions
NOI Build-Up for 2,242 SF
Gross rent
$44.9K $20.04/SF
− Vacancy
−$3.4K −$1.50/SF
EGI
$41.6K $18.54/SF
− OpEx
−$12.5K −$5.56/SF
NOI
$29.1K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,840
Cap Rate 7%
$415,600
Cap Rate 9%
$323,244
Alternative Uses
Best Use
Multifamily LT 5
$415.6K
$363.7K – $484.9K
NOI $29,092 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$371.6K
$325.1K – $433.5K
NOI $26,009 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$860.9K
$753.3K – $1.00M
NOI $60,265 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,572
Businesses Nearby
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Business Placement
Demographics for 60201, IL
44,652
Population
18,890
Households
2.4
Avg Household Size
33
Median Age
74%
College-Educated
97%
High-School Grad
4.5 sq mi
ZIP Area
9,923
Density / Sq Mi
$92,101
Median Household Income
$42,412
Median Earnings
$1,792
Median Rent
$577,800
Median Home Value
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Market
Properties on Market for Triplexes in Cook County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are leased under executed agreements, with a distinct layout in each unit.
Where is this triplex located?
The property is located at 1014 Garnett Place Evanston, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three apartments with 8 bedrooms and 4 full bathrooms across 2,242 square feet; Unit mix includes a 4BR+Office/2BA duplex‑down, a 2BR+Office/1BA apartment, and a 2BR/1BA third‑floor unit; Private rear open deck for each apartment
