Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Evanston Triplex with Garage Parking Title is generated by Realmo AI

    1029 Garnett Place, Evanston, IL 60201

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two-story triplex in Evanston with convenient access to transportation.

    Type:Multifamily
    Property size:
    3,545 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $449/SF
    Added:
    May 11, 2026
    Days on Market:
    18
    Last Refresh:
    May 16 at 8:40 pm

    Property Features for 1029 Garnett Place

    General Information

    Standard status
    Active
    Size
    3,545 SF
    Lot size
    0.40 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1904

    We can help!

    Listing Contact
    Kelsey Zurweller

    Listing agent Kelsey Zurweller License #475205364

    Listing office Horvath & Tremblay

    Listing date May 11, 2026

    Source Crexi

    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 Horvath & Tremblay

    HighLights

    • Three (3) large 4‑Bedroom units offer substantial living space with 3,500 sq ft GLA.
    • Located in Evanston, providing convenient access to downtown, retail, and residential areas.
    • Excellent transportation access via Interstate 94, U.S. Route 41, CTA Purple Line, and Metra Union Pacific North Line.
    • Garage parking spaces available.
    • Large 0.40‑acre parcel.
    • Multi‑family investment property.

    Overview

    The multi-family investment property at 1029 Garnett Place in Evanston, IL, is a two-story building featuring three 4-bedroom/1-bathroom units. The property offers 3,500 square feet of gross living area within a 3,545 square foot building situated on a 0.40-acre parcel. Garage parking spaces are available. The property's location in Evanston provides access to the city’s downtown area, neighborhood retail corridors, and residential communities. It benefits from connectivity to Interstate 94 (Edens Expressway) and U.S. Route 41, as well as proximity to the CTA Purple Line and Metra Union Pacific North Line, facilitating access to Chicago and the North Shore region.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Cook
    State
    Illinois
    Longitude
    -87.6861464
    Latitude
    42.0533243

    Nearby Similar for Sale

    • $250,000

      Evanston Retail Condo Opportunity

      Highly visible retail condo in the heart of Evanston.
      2611 Prairie Avenue, Evanston, IL 60201
      View Details
    • $685,000

      Evanston Two-Flat with Modern Comforts

      Spacious two-flat in desirable Evanston neighborhood with updated amenities.
      1321 Brummel Street, Evanston, IL 60202
      View Details
    • $849,000

      Evanston Multifamily Property For Sale

      Multifamily property in Evanston, Illinois, available for purchase.
      704 Florence Avenue, Evanston, IL 60202
      View Details
    • $485,000

      Evanston Free-Standing Building For Sale

      Free-standing building with long-term lease in place.
      1723 Simpson Streets, Evanston, IL 60201
      View Details
    • $25
      125,285 SF

      Evanston Office Building with Lake Views

      Office building in Evanston with spectacular Lake Michigan views.
      500 Davis Street, Evanston, IL 60201
      View Details
    • $795,000
      2,949 SF

      Evanston Retail Property For Sale

      Retail property in Evanston, available for the first time in 42 years.
      1900-1902 Green Bay Rd, Evanston, IL
      View Details
    • $550,000
      4,400 SF

      Evanston Mixed-Use Investment Opportunity

      Two-unit mixed-use building in Evanston's Central Street corridor.
      2950 Central Street, Evanston, IL 60201
      View Details
    • $1,500,000
      5,636 SF

      Vintage Masonry Evanston Office Building

      Freestanding, newly rehabbed Class A office building in Evanston, Illinois.
      1817 Church St, Evanston, IL 60201
      View Details
    • $515,000

      MULTI_FAMILY - Other - Evanston, IL

      1504 Pitner Avenue, Evanston, IL 60201
      View Details
    • $6,250,000
      67,800 SF

      Evanston NNN Investment Opportunity

      NNN single tenant sports facility investment opportunity in Evanston, Illinois.
      2454 Oakton Street, Evanston, IL 60202,
      View Details
    • $195,000
      583 SF

      Retail Condo on Benson Avenue

      Commercial retail condo space for sale, 583 sq ft.
      1831 Benson Ave, Evanston, IL 60201
      View Details
    • $4,260,000

      Evanston Mixed-Use Investment Opportunity

      Mixed-use building near Metra station with retail and apartments.
      2540 Green Bay Rd, Evanston, IL 60201
      View Details

    FAQs

    What type of property is this?
    Triplex - Two-story triplex in Evanston with convenient access to transportation.
    Where is this triplex located?
    The property is located at 1029 Garnett Place Evanston, IL.
    What is the asking price?
    The asking price for this property is $1,595,000.
    What are key features of this property?
    This property features: Three (3) large 4‑Bedroom units offer substantial living space with 3,500 sq ft GLA.; Located in Evanston, providing convenient access to downtown, retail, and residential areas.; Excellent transportation access via Interstate 94, U.S. Route 41, CTA Purple Line, and Metra Union Pacific North Line.
    (312) 361-1643 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kelsey Zurweller
    Real Estate License ID: 475205364
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1029 Garnett Place, Evanston, IL 60201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!