Office
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For Sale
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1715 Church St, Evanston, IL 60201
The property provides a substantial office footprint in Evanston.
Property Size20,000 SF
Price / SF$187.50
Days on Market4
Property Features for 1715 Church St
General Information
Standard status
Active
Size
20,000 SF
Property subtype
OFFICE
Additional Details
Gross Rent Multiplier
11.4
Listing Agency:
Insite Commercial Realty
Listed By:
Ross Goldstein · License #471017886
(312) 203-3199
Source:
Moodyscre
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:32AM
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 Insite Commercial Realty
Investment Insights
Based on property information with market context.
This Evanston office building contains 20,000 square feet. Its reported current GRM is 11.4x, and operating expenses represent 32% of revenue.
Evanston High School is identified as an institutional anchor in the surrounding neighborhood.
Evanston High School is identified as an institutional anchor in the surrounding neighborhood.
Key Highlights
- 20,000‑square‑foot office building
- Current GRM: 11.4x
- Operating expenses equal 32% of revenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$275,767
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,515,340
$5.5M
Cap Rate 7%
$3,939,529
$3.9M
Cap Rate 9%
$3,064,078
$3.1M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$489.6K $24.48/SF
− Vacancy
−$121.9K −$6.10/SF
EGI
$367.7K $18.38/SF
− OpEx
−$91.9K −$4.60/SF
NOI
$275.8K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,515,340
Cap Rate 7%
$3,939,529
Cap Rate 9%
$3,064,078
Alternative Uses
Best Use
Office B
$3.94M
$3.45M – $4.60M
NOI $275,767 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.91M
$6.04M – $8.06M
NOI $483,356 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 60201, IL
44,652
Population
18,890
Households
2.4
Avg Household Size
33
Median Age
74%
College-Educated
97%
High-School Grad
4.5 sq mi
ZIP Area
9,923
Density / Sq Mi
$92,101
Median Household Income
$42,412
Median Earnings
$1,792
Median Rent
$577,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - The property provides a substantial office footprint in Evanston.
Where is this office building located?
The property is located at 1715 Church St Evanston, IL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 20,000‑square‑foot office building; Current GRM: 11.4x; Operating expenses equal 32% of revenue
