Mixed-Use Building with
1132 Florence Avenue Evanston, IL 60202
1132 Florence Avenue, Evanston, IL, 60202
$1,399,000
For Sale
$1,399,000
Brick mixed-use building with heated garages, two overhead doors, and updated apartments with in-unit washer and dryer.
Property Size6,068 SF
Price / SF$230.55
Days on Market129
Property Features for 1132 Florence Avenue
General Information
- Standard status
- Active
- Size
- 6,068 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1927
Listing agency
@properties Christie's International Real Estate
(847) 866-7041
Listed by
Donna Agnew
(847) 866-7041
Source
Xome
Added: Mar 16 Updated: Jul 21 at 1:10PM Checked: Jul 21 at 1:10PM
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 unique brick mixed-use building offers flexible office, retail, and residential use. The property includes two storefront offices and spacious updated apartments with skylights, spacious bathrooms, and in-unit washer/dryers. A 550 SF rear deck adds outdoor space, and the building was originally built in 1927 as a bakery with expansion and updates in 2003 and additional remodeling over the years.
The building is located at 1132 Florence Avenue in Evanston’s West End. It is partially leased, and the owner-occupied space can generate additional rental income or support an owner-user live/work setup. Two large, heated garages provide a practical back-of-house component with 14' ceiling clearances, two 12' x 16' overhead doors, and parking for 7–8 vehicles.
Additional accessibility includes proximity to the 206 bus line with CTA/Metra access, as well as nearby shopping, dining, Starbucks, and fitness options. The Robert Crown Community Center is also close by.
The building is located at 1132 Florence Avenue in Evanston’s West End. It is partially leased, and the owner-occupied space can generate additional rental income or support an owner-user live/work setup. Two large, heated garages provide a practical back-of-house component with 14' ceiling clearances, two 12' x 16' overhead doors, and parking for 7–8 vehicles.
Additional accessibility includes proximity to the 206 bus line with CTA/Metra access, as well as nearby shopping, dining, Starbucks, and fitness options. The Robert Crown Community Center is also close by.
Key Highlights
- Brick mixed‑use building built in 1927, expanded/updated in 2003, and remodeled throughout the years
- Flexible layout with two storefront offices plus updated apartments with skylights and spacious bathrooms
- Apartments feature in‑unit washer/dryers
Local Financial Insights For Mixed Use
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 | $182.0k | $30.00 |
| − Vacancy | −$18.2k | −$3.00 |
| EGI | $163.8k | $27.00 |
| − OpEx | −$61.4k | −$10.13 |
| NOI | $102.4k | $16.88 |
6,068 SF · lease $30.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.46M
$1.28M – $1.71M
NOI $102,398 @ 7.0% cap · market cap 7.32%
Second Best
Retail
$1.20M
$1.05M – $1.40M
NOI $84,225 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,650 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jobe Systems, Inc.
IT Consulting Firm
Carroll Custom Construction, ...
Hardware & Home Improvement
McKnight + Partners, Inc.
Construction Company
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FAQs
What type of property is this?
Live-work space - Brick mixed-use building with heated garages, two overhead doors, and updated apartments with in-unit washer and dryer.
Where is this live-work space located?
The property is located at 1132 Florence Avenue Evanston, IL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Brick mixed‑use building built in 1927, expanded/updated in 2003, and remodeled throughout the years; Flexible layout with two storefront offices plus updated apartments with skylights and spacious bathrooms; Apartments feature in‑unit washer/dryers
