Evanston Triplex with Garage
1029 Garnett Place Evanston, IL 60201
1029 Garnett Place, Evanston, IL, 60201
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For Sale
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Two-story triplex in Evanston with convenient access to transportation.
Property Size3,545 SF
Lot Size0.40 Acres
Price / SF$449.93
Days on Market69
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
Listing Agency
Horvath & Tremblay
(312) 361-1643
Listed by
Kelsey Zurweller · License #475205364
Source
Crexi
Added: May 11 Checked: Jul 17 at 12:21 pm
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.0k | $20.04 |
| − Vacancy | −$5.3k | −$1.50 |
| EGI | $65.7k | $18.54 |
| − OpEx | −$19.7k | −$5.56 |
| NOI | $46.0k | $12.98 |
3,545 SF · lease $20.04/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$657.1K
$575.0K – $766.7K
NOI $46,000 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$587.5K
$514.1K – $685.4K
NOI $41,125 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,675 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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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.
