1557-63 Sherman Ave Evanston, IL 60201

This 7,500 SF second-generation restaurant/retail space is located in downtown Evanston, Illinois, near Northwestern University. The space has served Chicago's North Shore community as a high-volume restaurant for many years. It includes substantial existing infrastructure, such as hoods with black-iron venting, walk-in coolers and freezers, prep tables, cooking appliances, tables, and chairs. The restaurant space features a large horseshoe-shaped bar and seating for approximately 200, with multiple areas for standard service, banquets, and parties. A partial basement provides space for storage and back-of-the-house operations. An adjacent parking lot can be used for valet on nights and weekends and daytime parking. The property is suitable for other uses, including daycare, fitness, medical office, and other retail and service uses. The location is on Sherman Avenue between Davis Street and Grove Street, near shops, restaurants, office buildings, and residential areas. The property is close to both Metra and CTA Purple Line stations. The average household income within 1 mile is approximately $130,000, and the average home value is $624,000. Giordano's Pizza is opening in 2026. The property is available immediately.