Evanston, Illinois, a suburb of Chicago, offers a unique opportunity for investors to capitalize on the city's diverse economy and growing population of approximately 80,000 residents. Shopping centers in Evanston are a prime investment opportunity, providing a stable source of income through rental properties and a potential for long-term appreciation in value. As a hub for education, healthcare, and commerce, Evanston attracts a wide range of businesses, from retail and dining to professional services and technology companies. The city's proximity to Northwestern University, a world-renowned research institution, and its access to major transportation routes, including the CTA's Purple Line and Metra's Union Pacific North Line, make it an attractive location for businesses and residents alike. With its rich cultural scene, including the Evanston Art Center and the Frances Willard House, and its scenic lakefront location, Evanston is a desirable place to live, work, and visit. The city's strong economy, diverse population, and excellent infrastructure make it an ideal location for shopping centers, with a range of amenities, including Evanston Hospital and Ascension Saint Francis Hospital, and attractions like Ladd Arboretum and Grosse Point Lighthouse.
Currently, there are 1 shopping centers for sale in Evanston, offering a range of investment opportunities. The average price per square foot for shopping centers in Evanston is $209 USD, with an average size of 11,974 square feet. The largest shopping center available for sale is 11,974 square feet. In addition to shopping centers, Evanston also offers a range of other investment opportunities, including restaurants, specialty properties, land, and office properties. Restaurants in Evanston can capitalize on the city's diverse population and thriving food scene, with popular destinations like the Downtown Evanston area and the Central Street shopping district. Specialty properties, such as the Evanston Art Center and the Frances Willard House, offer unique investment opportunities in the city's cultural scene. Land in Evanston is also available for development, with opportunities for residential, commercial, or mixed-use projects. Office properties in Evanston, including those in the Downtown area and along the Chicago Avenue corridor, offer a range of options for businesses looking to locate in the city. With its strong economy, diverse population, and excellent infrastructure, Evanston is an attractive location for investors looking to capitalize on the city's growth and development.
What is the average cap rate for shopping centers in Evanston?
The average cap rate for shopping centers in Evanston is 7.36%, making it an attractive option for investors looking to capitalize on the city's strong economy and diverse population of around 80,000 residents.
