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    831 Chicago Ave Evanston, IL 60202

    For Sale
    $1,895,000

    Mixed-use properties

    Property size:
    18,490 SF
    Lot size:
    0.22 Acres

    Property Features for 831 Chicago Ave

    General Information

    Size
    18,490 SF
    Lot size
    0.22 Acres

    Source: InSite Commercial Realty Agent Ross Goldstein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    - A truly unique and historically significant property located just south of the Chicago-Main signalized intersection in a Transit-Oriented District (CTA and, METRA stations across the street).
    - Originally built in 1896 as a 2-story 10,600sf building to house a Livery and Hansom Cab company.
    - A 3,500sf bow truss structure and 3,500sf basement added in 1934. In 2009 InSite's client undertook a $1.6M renovation, occupying the 2nd floor as office space and leasing the 1st Floor Rear as office space. Property will be delivered vacant at closing.
    - 18,400sf building comprised of 5,800sf of unfinished retail on the first floor, 5,800sf finished office on the 2nd floor, a 3,500sf barrel-truss office space on the first floor in the rear above a 3,500sf Lower Level
    - $1.6mm Property upgrade and rehab completed by Seller in 2010
    - Located in TOD, TIF and SSA Districts, supportive of property owners and tenants
    - Zoning: C1a, allows multiple uses and Apartments by right on 2nd floor
    - Strong North Shore Demographics
    - PIN: 11-19-401-021-0000
    - List Price: $1,995,000
    - Flexible owner financing available
    - 2021 Tax reduction received, taxes currently being appealed
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ewms Everywarehouse Warehouse

    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
    -87.6790549
    Latitude
    42.0332849

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    FAQs

    Where is this mixed-use property located?
    The property is located at 831 Chicago Ave Evanston, IL.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: - Prime Transit-Oriented District (TOD) location near CTA and METRA stations.; - Significant historical property with unique architectural features (bow truss, barrel-truss).; - Delivered vacant, offering immediate occupancy or redevelopment potential.
    (312) 203-3199
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    831 Chicago Ave Evanston, IL 60202
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    Evanston, IL 60202
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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
    831 Chicago Ave Evanston, IL 60202
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