Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Evanston Office Space Available Title is generated by Realmo AI

    1316-1320 Sherman Ave, Evanston, IL 60201

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office spaces available in multi-tenant professional building near CTA.

    Type:OFFICE
    Property size:
    425 SF
    Added:
    Apr 29, 2026
    Days on Market:
    29
    Last Refresh:
    May 8 at 3:33 am

    Property Features for 1316-1320 Sherman Ave

    General Information

    Standard status
    Active
    Size
    425 SF
    Property subtype
    OFFICE

    Spaces For Lease

    at 1316-1320 Sherman Ave Contact us

    We can help!

    Listing Contact
    Karen Kulczycki, CCIM
    Karen Kulczycki, CCIM

    Listing agent Karen Kulczycki, CCIM

    Listing office SVN | Chicago - Corporate

    Listing date Apr 29, 2026

    Source Moodyscre

    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 SVN | Chicago - Corporate

    HighLights

    • Steps from CTA Purple Line
    • ±2,240 SF Ground Floor Office with Private Entry
    • ±425 SF Second Floor Office
    • Rent includes Water and Heat
    • Open Concept | Renovated Common Areas
    • Multi‑tenant Professional Building

    Overview

    Available for lease are office spaces including a ±425 SF second-floor unit and a ±2,240 SF ground-floor unit with a private entry. The property is located in a multi-tenant professional building that features an open concept and renovated common areas. Signage opportunities are available. The building is located steps from the CTA Purple Line. Rent includes water and heat.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Cook
    State
    Illinois
    Longitude
    -87.6824791
    Latitude
    42.0418163

    Nearby Similar for Lease

    • Sponsored
      $129-$5,364/Mo
      11-1,292 SF

      Orrington Plaza

      1603 Orrington Ave, Unit 600, Evanston, IL 60201
      View Details
    • $1,850/Mo
      250 SF

      Evanston Office Space For Rent

      Executive suites and traditional office spaces available for rent.
      1740 Ridge Ave, Evanston, IL 60201
      View Details
    • Contact for pricing
      500 SF

      Evanston Office Space For Rent

      Private office space in Evanston's arts district. Move-in ready.
      1124 Florence Avenue, Evanston, IL 60202
      View Details
    • $750/Mo
      21,000 SF

      Evanston Class B Office Building

      Four-story office building near downtown Evanston and Northwestern University.
      1740 Ridge Avenue, Evanston, IL 60201
      View Details
    • $33 SF/Yr
      1,350 SF

      Evanston Retail Space For Rent

      Retail space in a dynamic downtown location near Northwestern University.
      1611 Chicago Ave, Evanston, IL
      View Details
    • $29 SF/Yr
      800 SF

      Evanston Storefronts Near Transportation Center

      Highly visible storefronts in downtown Evanston near transportation.
      830 Davis Street, Evanston, IL 60201
      View Details
    • $2,950/Mo
      732 SF

      Evanston Retail or Office Space

      732 SF retail/office space in Downtown Evanston.
      617-627 Grove St, Evanston, IL
      View Details
    • $35 SF/Yr
      1,250 SF

      Evanston Retail Space For Rent

      1,250 SF retail space with flexible configuration in Evanston.
      2603-2609 Broadway Ave, Evanston, IL
      View Details
    • $30 SF/Yr
      2,800 SF

      Modern Office Space in Evanston

      Open floor plan with natural light in a prime location.
      1606 Maple Ave, Evanston, IL
      View Details
    • Contact for pricing
      12,000 SF

      Evanston Restaurant and Brewery Space

      Turn-key restaurant and brewery in downtown Evanston with prime location.
      1615 Oak Ave, Evanston, IL, 60201
      View Details
    • Contact for pricing
      4,116 SF

      Evanston Retail Space For Lease

      Retail space available in thriving Evanston corridor near Metra.
      2110-2112 Central St, Evanston, IL 60201
      View Details
    • $21 SF/Yr
      20,662 SF

      Evanston Office Space For Rent

      Two-story office building in downtown Evanston with renovated common areas.
      1316-1322 Sherman Ave, Evanston, IL 60201
      View Details

    FAQs

    What type of property is this?
    Office units - Office spaces available in multi-tenant professional building near CTA.
    Where is this office units located?
    The property is located at 1316-1320 Sherman Ave Evanston, IL.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Steps from CTA Purple Line; **±2,240 SF Ground Floor Office with Private Entry**; ±425 SF Second Floor Office
    (630) 330-3352 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Karen Kulczycki, CCIM
    Karen Kulczycki, CCIM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1316-1320 Sherman Ave, Evanston, IL 60201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!