Brick Mixed-Use Building with
For Sale
$1,225,000
1132 Florence Ave, Evanston, IL 60202
Mixed-use configuration combines storefront office space, apartments, heated garages, and on-site vehicle parking.
Property Size6,068 SF
Price / SF$201.88
Days on Market209
Property Features for 1132 Florence Ave
General Information
Standard status
Active
Size
6,068 SF
Total Parking Spaces
8
Additional Details
Public Transit
Yes
Office Units
2
Building Details
Year Built
1927
Year Renovated
2003
Buildings
1
Construction
brick
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
@properties Christie's International Real Estate
Listed By:
Donna Agnew · License #475133954
(847) 644-3413
Source:
Grandviewrealtyservices
Added: Mar 20
Changed: Sep 14
Last Checked: Oct 7 at 2:09PM
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 @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
This 8,100-square-foot brick mixed-use property combines two storefront office areas with updated apartments, supporting office, retail, residential, and live-work configurations. Apartment features include skylights, spacious bathrooms, and in-unit washer/dryers, while a 550-square-foot rear deck adds outdoor space. Two heated garages provide 14-foot ceilings and accommodate two 12-by-16-foot overhead doors. The property also includes parking for 7–8 vehicles.
Built in 1927, the building was expanded and updated in 2003, with additional remodeling completed over the years. It is partially leased and includes owner-occupied space. The property is near the 206 bus line, with CTA and Metra access, shopping, dining, Starbucks, fitness facilities, and Robert Crown Community Center nearby. Zoning is COMMR.
Built in 1927, the building was expanded and updated in 2003, with additional remodeling completed over the years. It is partially leased and includes owner-occupied space. The property is near the 206 bus line, with CTA and Metra access, shopping, dining, Starbucks, fitness facilities, and Robert Crown Community Center nearby. Zoning is COMMR.
Key Highlights
- 8,100‑square‑foot brick mixed‑use building with two storefront offices and apartments
- Two heated garages with 14' ceilings and two 12' x 16' overhead doors
- Parking for 7‑8 vehicles plus a 550 SF rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,398
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,047,960
$2.0M
Cap Rate 7%
$1,462,829
$1.5M
Cap Rate 9%
$1,137,756
$1.1M
Market Conditions
NOI Build-Up for 6,068 SF
Gross rent
$182.0K $30.00/SF
− Vacancy
−$18.2K −$3.00/SF
EGI
$163.8K $27.00/SF
− OpEx
−$61.4K −$10.13/SF
NOI
$102.4K $16.88/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,047,960
Cap Rate 7%
$1,462,829
Cap Rate 9%
$1,137,756
Alternative Uses
Best Use
Mixed Use
$1.46M
$1.28M – $1.71M
NOI $102,398 @ 7.0% cap · market cap 8.36%
Second Best
Retail
$1.20M
$1.05M – $1.40M
NOI $84,225 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,650 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,778
Businesses Nearby
Explore this area
Business Placement
Demographics for 60202, IL
33,245
Population
15,024
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
96%
High-School Grad
3.1 sq mi
ZIP Area
10,724
Density / Sq Mi
$101,087
Median Household Income
$57,720
Median Earnings
$1,612
Median Rent
$381,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use configuration combines storefront office space, apartments, heated garages, and on-site vehicle parking.
Where is this mixed-use property located?
The property is located at 1132 Florence Ave Evanston, IL.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 8,100‑square‑foot brick mixed‑use building with two storefront offices and apartments; Two heated garages with 14' ceilings and two 12' x 16' overhead doors; Parking for 7‑8 vehicles plus a 550 SF rear deck
