Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1739 Sherman Ave Evanston, IL 60201
    Property profile & analytics

    1739 Sherman Ave, Evanston, IL 60201

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1739 Sherman Ave

    Property type
    Retail properties & Spaces

    Description

    This exceptional retail space, located at 1739 Sherman Avenue in Evanston, Illinois, 60201, presents a unique opportunity for businesses seeking a high-traffic location. The property is a multi-tenant retail building with 625 square feet currently vacant, offering immediate occupancy. Its prime location on Sherman Avenue places it within a thriving retail corridor, surrounded by established national brands including Target, Whole Foods, Chipotle, Starbucks, and Panera Bread. This ensures high visibility and significant foot traffic for potential tenants. The property benefits immensely from its proximity to Northwestern University, a major institution with a student and faculty population exceeding 30,000, providing a substantial and consistent customer base. The address is 1739 Sherman Ave, Evanston, IL 60201. The total space available is 625 square feet, ideal for a variety of retail uses. This location offers unparalleled access to a dense and affluent population, making it an attractive investment for businesses seeking strong growth potential. The property's strategic placement within this established retail hub guarantees maximum exposure and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Evanston
    County
    Cook
    State
    Illinois
    Longitude
    -87.6814
    Latitude
    42.0496

    Comparable in this City

    • Value Estimation by Request
      5,102 SF

      1500 Sherman Ave

      Restaurants
      1500 Sherman Ave, Evanston, IL 60201
      View Details
    • Value Estimation by Request
      1,969 SF

      816 Church St

      Retail properties & Spaces
      816 Church St, Evanston, IL 60201
      View Details
    • Value Estimation by Request

      1600 Sherman Ave

      Individual retail properties
      1600 Sherman Ave, Evanston, IL 60201
      View Details
    • Value Estimation by Request
      2,679 SF

      2130 Green Bay Rd

      Office Spaces
      2130 Green Bay Rd, Evanston, IL 60201
      View Details
    • Value Estimation by Request

      1711 Maple Ave

      Retail properties & Spaces
      1711 Maple Ave, Evanston, IL 60201
      View Details
    • Value Estimation by Request

      626 Grove St

      Office Units
      626 Grove St, Evanston, IL 60201
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Evanston Mixed-Use Investment Opportunity

      Mixed-use building near Metra station with retail and apartments.
      2540 Green Bay Rd, Evanston, IL 60201
      View Details
    • Contact for pricing

      Evanston Retail Intersection Location

      Located at Evanston's most desirable retail intersection.
      1600-1620 Sherman Ave, Evanston, IL 60201
      View Details
    • $485,000

      Evanston Free-Standing Building For Sale

      Free-standing building with long-term lease in place.
      1723 Simpson St, Evanston, IL 60201
      View Details
    • Contact for pricing
      7,500 SF

      Evanston Restaurant/Retail Opportunity For Sale

      7,500 SF restaurant/retail space in downtown Evanston, Illinois.
      1557-63 Sherman Ave, Evanston, IL 60201
      View Details
    • Contact for pricing
      2,949 SF

      Evanston Retail Property For Sale

      Retail property in Evanston, available for the first time in 42 years.
      1900-1902 Green Bay Rd, Evanston, IL 60201
      View Details
    • Contact for pricing
      4,400 SF

      Evanston Mixed-Use Investment Opportunity

      Two-unit mixed-use building in Evanston's Central Street corridor.
      2950 Central St, Evanston, IL 60201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,800 SF

      Evanston Retail Space: Church Street Plaza

      Prime Evanston retail, restaurant space available.
      1711 Maple Ave, Evanston, IL 60201
      View Details
    • $29 SF/Yr

      Evanston Storefronts Near Transportation Center

      Highly visible storefronts in downtown Evanston near transportation.
      830 Davis St, Evanston, IL 60201
      View Details
    • $32 SF/Yr

      Evanston Retail Space For Lease

      Highly visible commercial space with basement and parking included.
      1319 Emerson St, Evanston, IL 60201
      View Details
    • Contact for pricing
      1,556 SF

      Evanston Retail or Office Space

      732 SF retail/office space in Downtown Evanston.
      617-627 Grove St, Evanston, IL 60201
      View Details
    • Contact for pricing
      1,400 SF

      Evanston Retail Space For Lease

      Prime retail space ideal for QSR concept near Metra.
      2114 Central St, Evanston, IL 60201
      View Details
    • Contact for pricing

      Evanston Restaurant Opportunity For Lease

      Restaurant or business opportunity in Evanston's Central Street corridor.
      2949 Central St, Evanston, IL 60201
      View Details
    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.
    1739 Sherman Ave
    Evanston, IL 60201
    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
    1739 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!