Mixed-Use Investment
1527 Greenleaf Street Evanston, IL 60202
1527 Greenleaf Street, Evanston, IL, 60202
Contact for pricing
For Sale
Contact for pricing
Two-story mixed-use building includes two commercial units and three updated apartment units with in-unit washer/dryers.
Property Size5,656 SF
Lot Size0.08 Acres
Price / SF$158.24
Days on Market77
Property Features for 1527 Greenleaf Street
General Information
- Standard status
- Active
- Size
- 5,656 SF
- Lot size
- 0.08 Acres
- Property subtype
- Retail, Multifamily, Mixed Use
Building Details
- Year Built
- 1928
Listing agency
Horvath & Tremblay
(312) 361-1643
Listed by
Kelsey Zurweller · License #475205364
Source
Crexi
Added: May 8 Updated: Jul 22 at 4:50PM Checked: Jul 22 at 4:50PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay presents an exclusive opportunity to acquire a mixed-use investment property at 1527–1529 Greenleaf Street. The two-story building is configured with two commercial units and three residential units, including two 2-bedroom/1-bath apartments and one 1-bedroom/1-bath unit. The property totals 5,656 square feet of gross area and includes 5,200 square feet of gross living area. The apartments were all updated in 2017 and feature in-unit washer/dryers.
The building sits on a 0.08-acre parcel and offers on-street parking. It is positioned in downtown Evanston with access to central business district connections, established retail corridors, and surrounding dense residential neighborhoods, with connectivity through Green Bay Road, Ridge Avenue, and Sheridan Road.
With its combined commercial and residential layout and updated in-unit laundry for tenants, the property provides a straightforward mixed-use configuration for long-term ownership.
The building sits on a 0.08-acre parcel and offers on-street parking. It is positioned in downtown Evanston with access to central business district connections, established retail corridors, and surrounding dense residential neighborhoods, with connectivity through Green Bay Road, Ridge Avenue, and Sheridan Road.
With its combined commercial and residential layout and updated in-unit laundry for tenants, the property provides a straightforward mixed-use configuration for long-term ownership.
Key Highlights
- Two‑story mixed‑use building (built 1928) with 5,200 SF gross living area and 5,656 SF gross area
- Tenant mix includes 2 commercial units and 3 residential units: two 2BD/1BA and one 1BD/1BA
- Apartments updated in 2017 and feature in‑unit washer/dryers
Local Financial Insights For Retail
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 | $122.2k | $21.60 |
| − Vacancy | −$10.0k | −$1.77 |
| EGI | $112.2k | $19.83 |
| − OpEx | −$33.6k | −$5.95 |
| NOI | $78.5k | $13.88 |
5,656 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.12M
$981.3K – $1.31M
NOI $78,506 @ 7.0% cap · market cap 8.77%
Second Best
Multifamily LT 5
$1.05M
$917.4K – $1.22M
NOI $73,392 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,693 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two-story mixed-use building includes two commercial units and three updated apartment units with in-unit washer/dryers.
Where is this triplex located?
The property is located at 1527 Greenleaf Street Evanston, IL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two‑story mixed‑use building (built 1928) with 5,200 SF gross living area and 5,656 SF gross area; Tenant mix includes 2 commercial units and 3 residential units: two 2BD/1BA and one 1BD/1BA; Apartments updated in 2017 and feature in‑unit washer/dryers
