Evanston, Illinois, a suburb of Chicago, offers a unique opportunity for investors to explore Multi-Family Properties for sale. With a population of approximately 80,000, Evanston is an attractive location for those looking to invest in a diverse and stable community. Multi-Family Properties in Evanston can represent a range of investment opportunities, from small apartment buildings to larger complexes, each with its own unique characteristics and potential for return on investment. The city's strong infrastructure, including transportation services like the CTA's Purple Line and Metra's Union Pacific North Line, makes it an attractive location for residents and businesses alike. Additionally, Evanston is home to Northwestern University, a prominent research university, and a range of cultural attractions, including the Evanston Art Center and the Grosse Point Lighthouse. The city's diverse economy, with major industries in finance, consulting, and manufacturing, also makes it an attractive location for businesses and investors.
Currently, there are 1 Multi-Family Properties for sale in Evanston, offering a range of options for investors. The average price per square foot for these properties is $242 USD, with an average size of 14,418 square feet. The largest property available is 29,400 square feet. In addition to Multi-Family Properties, Evanston also offers a range of other property types for sale, including Retail Space, with its Central Street shopping district, Shopping Centers, like the one on Dempster Street, Residential Income Homes, and Office Properties, such as those found in the downtown area. Each of these property types offers its own unique investment opportunities and potential for return on investment. Overall, Evanston's diverse economy, strong infrastructure, and range of cultural attractions make it an attractive location for investors and businesses alike.
What is the average cap rate for multi-family properties in the Evanston market?
For investors seeking to capitalize on the Evanston market, understanding the average cap rate for multi-family properties is crucial. According to current listings, the average cap rate for multi-family properties in Evanston is 6.49%, which is a key metric to consider when evaluating potential investments; to learn more about what a cap rate is and its significance in commercial real estate, check out our article on what is a cap rate.
What should I know about financing options for buying an apartment building in Evanston?
When considering financing options for buying an apartment building in Evanston, it's essential to understand the various commercial real estate loans (CRE loans) available, as outlined in our article at CRE loans, which can help you navigate the process.
Here are a few key factors to keep in mind:
- With 1 available listings of multi-family properties in Evanston, you'll want to carefully evaluate your financing options to ensure you're getting the best deal possible.
- The average price per square foot for multi-family properties in Evanston is $242 USD, and the average size is 14,418 square feet, which can impact your financing needs.
- Additionally, the average cap rate for multi-family properties in Evanston is 6.49%, which can affect your cash flow and financing strategy.
