Evanston, Illinois, a suburb of Chicago, offers a unique opportunity for investors to own a piece of the city's diverse culinary scene with its numerous restaurants for sale. With a population of approximately 80,000, Evanston provides a stable customer base for restaurants, thanks to its strong educational institutions, such as Northwestern University, and its proximity to Chicago. Restaurants in Evanston can cater to a wide range of tastes and preferences, from casual eateries to fine dining establishments, making them an attractive investment opportunity. The city's amenities, including its scenic lakefront, parks, and cultural attractions, such as the Evanston Art Center and the Grosse Point Lighthouse, make it an ideal location for restaurants to attract both locals and visitors. Additionally, Evanston's infrastructure, including its transportation services and major roads, provides easy access to the city and its surrounding areas. With its rich history, diverse population, and strong economy, Evanston is an excellent place to invest in a restaurant.
Currently, there are 3 restaurants for sale in Evanston, offering a range of options for investors. The average price per square foot for these restaurants is $469 USD, with an average size of 5,997 square feet. The largest restaurant available is 11,250 square feet, providing ample space for a variety of dining concepts. In addition to restaurants, Evanston also offers other investment opportunities, including apartment buildings, shopping centers, specialty properties, and hotels. For example, investors can find apartment buildings near Northwestern University, shopping centers along Central Street, specialty properties in the downtown area, and hotels near the lakefront. With its diverse range of investment opportunities, Evanston is an attractive destination for investors looking to expand their portfolio.
What is the average cost per square foot for a restaurant in Evanston?
The average cost per square foot for a restaurant in Evanston is $469 USD per square foot, with an average size of 5,997 square feet and a largest size of 11,250 square feet, among the 3 available listings.
What factors determine the value of a restaurant for sale in Evanston?
The value of a restaurant for sale in Evanston is determined by a combination of factors, including:
- Location, with proximity to Northwestern University, downtown Evanston, and major transportation hubs like the CTA's Purple Line and Metra's Union Pacific North Line, increasing the restaurant's appeal and potential customer base;
- The restaurant's size, with an average size of 5,997 square feet, and a largest size of 11,250 square feet, affecting its capacity and operational efficiency;
- Financial performance, including the average price per square foot of $469 USD and an average cap rate of 6.66%, which influence the restaurant's profitability and return on investment.
