Evanston, Illinois, a suburb of Chicago, offers a unique opportunity for investors to capitalize on the city's diverse economy and prime location. With 10 office properties for sale, investors can choose from a range of options to suit their needs. Office properties in Evanston represent a sound investment opportunity, as the city is home to Northwestern University, a prominent research institution, and several major corporations, including Magnetar Capital, ZS Associates, and Legacy.com. The city's infrastructure, including the CTA's Purple Line and Metra's Union Pacific North Line, provides easy access to Chicago and surrounding areas. Additionally, Evanston's amenities, such as Evanston Hospital and Ascension Saint Francis Hospital, and its scenic location along Lake Michigan, make it an attractive location for businesses and residents alike. The city's diverse population of approximately 80,000 residents also provides a stable workforce and customer base. With its strong economy, excellent infrastructure, and desirable location, Evanston is an ideal place to invest in an office property.
Office properties in Evanston are situated in a prime location, with nearby amenities and attractions, including the Grosse Point Lighthouse, the Frances Willard House, and the Harley Clarke Mansion. The city's downtown area is home to over 300 businesses, high-rise office and residential buildings, shopping areas, and numerous restaurants. In addition to office properties, Evanston also offers a range of other commercial real estate options, including commercial buildings, apartment buildings, shopping centers, and hotels. For example, the city's Central Street area is characterized by specialty shops and restaurants, while the Dempster Street area boasts over 60 shops, providing a diverse shopping environment. With its strong economy and prime location, Evanston is an attractive location for businesses and investors alike. The city's office properties, with an average price per square foot of $222 USD and an average size of 6,984 square feet, offer a range of options for investors. The largest office property available is 18,450 square feet, providing ample space for businesses to grow and expand. With an average cap rate of 9.15%, office properties in Evanston offer a stable and attractive investment opportunity.
What is the average price per square foot for office properties in Evanston?
The average price per square foot for office properties in Evanston is $222 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Evanston, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, often attracting large corporations and professional firms.
- Class B office properties offer functional space with standard amenities, suitable for smaller businesses and startups, and are often located in secondary areas.
- Class C office properties are older buildings with limited amenities, typically found in less desirable locations, and are often used by small businesses or startups on a tight budget.
With 10 available listings of office properties in Evanston, understanding these classifications can help you navigate the market and find the right property that fits your needs and budget.
