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Property profile & analytics
FOR SALE
Office buildings
500 Davis St, Evanston, IL 60201-4668
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US28-0957431
For Sale
1 / 27
$545,000
500 Davis St, Evanston, IL 60201-4668
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Property summary
AI-generated overview
This exceptional Class A executive office building, located at 500 Davis Street in Evanston, Illinois, offers stunning Lake Michigan views. The property, totaling 125,285 square feet, is a four-story building constructed in 1978 and extensively renovated in 2012. Currently, there are 10 available office spaces ranging in size from 1,190 to 11,267 square feet, perfect for businesses seeking flexible and prestigious office accommodations. The building's prime location in Cook County, with a 60201 zip code, provides easy access to transportation and amenities. Tenancy is multiple, allowing for a diverse and vibrant work environment. The building's impressive size and modern amenities, combined with the unparalleled views, create an ideal setting for businesses seeking a sophisticated and productive workspace. The spectacular Lake Michigan vista provides enhanced natural light and breathtaking views throughout the day, boosting employee morale and creating a positive work atmosphere. This is a rare opportunity to secure high-quality office space in a highly desirable location. Inquire today to learn more about available suites and lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1977
Lot
0.61 ac (26,400 SF)
APN
11-18-408-005
UPID
US28-0957431
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
-
Evanston Dental Associates, Ltd. Dental Office
-
Susan E Yount, PhD Physician Medical Clinic
-
Lehtman Craig D DDS Dental Office
-
Dr. Michael R. Stohle, DDS Dental Office
-
Evanston Dentist Group Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$545k
Owner & transaction history
500 Davis Owner LLC · 7 yrs held
500 Davis Owner LLC
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Evanston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evanston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$996,850
Tax year 2022
Assessed value
$4,222,873
Assessed 2022
Previous assessed
$4,772,603
-11.5% YoY
Effective rate
23.61%
On assessed value
Assessed land
$126,660
Assessed improvement
$4,096,213
Land market value
$506,640
Improvement market value
$16,384,852
Total market value
$16,891,492
Applied tax rate
17,061.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Sale
Year built
1977
Heating
NONE
Lot
0.61 ac (26,400 SF)
APN
11-18-408-005
UPID
US28-0957431
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1977
Heating
NONE
Lot
0.61 ac
Current owner
From public records · entity-resolved
500 Davis Owner LLC
Entity
Mailing address
20 N MICHIGAN AVE STE #400, CHICAGO, IL 60602-4828
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2018
$32,350,000
500 Davis Owner LLC
Tfo Reva Steelbridge 500 Davis
Grant Deed
related
$21,500,000 · Usaa Life Ins Co
May 3, 2016
$18,000,000
Tfo Reva Steelbridge 500 Davis
Slate Davis Center Holdings Ll
Grant Deed
$14,020,500 · Privatebank & Tr
Feb 13, 2014
$14,873,000
Slate Davis Center Holdings
500 Davis Street Holdings LLC
Trustees Deed
related
$110,361,272 · Wells Fargo Bk
Jul 26, 2010
—
500 Davis Street Holdings LLC
Judicial Sales Corp
Trustees Deed
related
—
Jun 1, 2007
$14,500,000
Samir Cumberland Center LLC
Massachusetts Mutual Life Ins
Grant Deed
$20,927,153 · Nomura Credit & Capital INC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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