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    1723 Simpson St Evanston, IL 60201

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    For Sale
    $484,900

    Rehabbed B1-zoned building with a 10-year lease and option.

    Property Features for 1723 Simpson St

    General Information

    Standard status
    Active

    Building Details

    Year built
    1960

    Source: DIMEL REALTY INC Agent SAMI YONAN

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

    Overview

    Free-Standing Building with Long-Term Lease

    This is a free-standing building with a long-term lease of 10 years, with an option for another 10 years. The property is currently leased to a well-established organization. Zoned B1, the building has been rehabbed and is in great condition. Recent upgrades include a new HVAC system (furnace and AC), new windows installed in 2020, and new ceilings, flooring, and an ADA-compliant bathroom in 2019. The roof is over 10 years old. The tenant has upgraded the electrical system with three new electric panels providing 600 amp service. The property also includes two outside parking spaces. This property is located in Evanston, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Meals on Wheels Northeastern ... Non-Profit Organization

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Cook
    State
    Illinois
    Longitude
    -87.6970638
    Latitude
    42.0558391

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    FAQs

    What type of property is this?
    Investment property - Rehabbed B1-zoned building with a 10-year lease and option.
    Where is this investment property located?
    The property is located at 1723 Simpson St Evanston, IL.
    What is the asking price?
    The asking price for this property is $484,900.
    What are key features of this property?
    This property features: - 10-Year Lease with 10-Year Option: Provides long-term stability.; - Well-Established Organization Holds the Lease: Indicates a reliable tenant.; - Zoned B1: Offers flexibility for various business uses.
    (847) 903-7279
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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
    1723 Simpson St Evanston, IL 60201
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