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Property profile & analytics
FOR LEASE
Retail space

1601 Simpson St Evanston, IL 60201

6,400 SF 0.16 ac lot Built 1937
Entity Owned 13-yr Hold ~ Est. High Equity
Property ID
US28-1770728
Property summary
AI-generated overview

This three-story, 16,940 square foot building at 1601-1607 Simpson Street in Evanston, Illinois, offers a unique blend of creative and medical office spaces. Located in the vibrant Hill Arts District, this property boasts 11 suites, with a minimum divisible space of 900 square feet and a maximum contiguous space of 3,350 square feet. Currently, 10,440 square feet are available. The building, constructed in 1940 and extensively renovated in 2003, sits on a 12,948 square foot lot and is zoned B-1. One designated off-street parking space is included per suite, with ample street parking also available. Its prime location offers easy access to public transportation, including bus stops, CTA stops at Foster and Noyes, and the Metra station at Central Street. The property is just three blocks west of Green Bay Road, a major thoroughfare with high daily traffic volume. Nearby Northwestern University, numerous shops, restaurants, and entertainment venues provide a dynamic environment. The City of Evanston offers various incentives, including TIF, grants, and facade improvement programs, which can be explored with the building owner. Property taxes are $7.54 per square foot. This professionally managed building presents a compelling opportunity for businesses seeking a vibrant and convenient location.

Property profile
Verified
Property type Retail space
Use group STORE, RETAIL OUTLET
Year built 1937
Total area 6,400 SF
Lot 0.16 ac (7,056 SF)
APN 10-12-421-022
UPID US28-1770728
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Brella Productions Marketing & Advertising (Bike/Boat/Book/etc) Store
  • Kelley Management Consulting Business Management Consultant
  • Powering Campaigns Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.37M
Comparable Approach Comparable
$1.67M
Blend (final) Blend
$1.38M
Owner & transaction history
Pono Hana LLC · 13 yrs held
Pono Hana LLC
since 2013
5 recorded transactions
2022
Price N/A
2013
$2.3M
2005
Price N/A
2002
$375,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units) $1.5M +59.7%
Neighborhood: shopping center $1.4M +47.1%
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More about this property
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