Property profile

940 Pitner Ave Evanston, IL 60202

OFF-MARKET
Commercial real estate
Property ID
US28-5899321
6,700 SF Built 1955
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Property summary

AI-generated overview

This exceptional Evanston investment opportunity presents a portfolio of five (5) live-work loft-style apartments located at 940 Pitner Avenue. The 6,700 square foot property, originally a bow truss building, underwent a complete transformation in 2010, masterfully redesigned by a prominent local architect into a contemporary apartment community. This adaptive reuse project resulted in a highly desirable and unique property. Each of the five units boasts its own individual HVAC system and in-unit laundry facilities, enhancing tenant comfort and convenience. The building offers off-street parking, a valuable amenity in this location. The property's modern design and desirable features contribute to its strong cash flow, making it an attractive investment with minimal operational expenses. The location in Evanston, Illinois provides excellent access to local amenities and transportation. This is a rare chance to acquire a distinctive, high-quality, income-producing asset in a thriving market. The asking price is $1,350,000. The property sits on a lot with zero acres. This turnkey investment is ready for a new owner to enjoy immediate returns. The building's unique history and modern updates combine to create a truly exceptional investment opportunity.

Property profile

Verified
Property type Commercial real estate
Year built 1955
Total area 6,700 SF
UPID US28-5899321

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Association Or Organization

Location

940 Pitner Ave Evanston, IL 60202
Evanston metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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