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    2725-27 Central St Evanston, IL 60201

    Sponsored
    For Sale
    $2,750,000

    14-Unit Apartment Building, High ROI

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 14-unit multifamily property in Evanston, IL, presents a compelling investment opportunity. The charming, well-maintained vintage building boasts a mix of ten one-bedroom, one-bathroom units (approximately 850 sq ft each, including living and dining rooms) and four larger two-bedroom, one-and-a-half-bathroom units (approximately 1000 sq ft each, also with living and dining rooms). All units are currently rented, generating consistent income. Ten convenient parking spaces are available for additional rental revenue. The building features recently updated three-story windows in the entryways, a new boiler (2014), and a common laundry area. Large individual storage units in the basement provide ample space for tenants. Heat and hot water are included in the rent

    Property Features for 2725-27 Central St

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1956
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Cook
    State
    Illinois
    Longitude
    -87.71204
    Latitude
    42.06472

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    FAQs

    What type of property is this?
    Commercial real estate - 14-Unit Apartment Building, High ROI
    Where is this commercial real estate located?
    The property is located at 2725-27 Central St Evanston, IL.
    What is the asking price?
    The asking price for this property is $2,750,000.
    (312) 642-1400
    Request Owner's contact information
    2725-27 Central St Evanston, IL 60201
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    Evanston, IL 60201
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    Realmo Value Estimation

    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.

    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.

    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
    2725-27 Central St Evanston, IL 60201
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