1813 Dempster Street Evanston, IL 60201
Attractive mixed-use investment opportunity in Evanston's highly desirable Dempster corridor. Property features a 2,200 SF commercial restaurant space with basement storage, two second-floor residential units, a large shared sun deck, and separately rented garage spaces. Commercial and residential tenants are month-to-month, with one residential unit currently vacant, providing immediate leasing, owner-user, value-add, or repositioning potential. Current rents are well below market, creating significant upside potential. Based on conservative rent projections using the lowest competing rents currently being marketed in the area, the property has the potential for an approximate 11.2% pro forma cap rate at the current asking price. All units are separately metered, tenants pay their own utilities, and the commercial tenant pays approximately 70% of the water bill plus its own trash service. Formerly configured as a dental office, the entire second floor could easily be converted back to professional office use for medical, dental, legal, accounting, insurance, or similar users. Strong visibility, excellent traffic counts, flexible mixed-use configuration, and significant upside make this a compelling opportunity for investors and owner-users alike. Restaurant business is NOT for sale; real estate only. Property sold AS-IS. Seller is a licensed Illinois Real Estate Agent.
Baird & Warner Sue Kenealy Email
Property Details
Feature Descriptions
Location
See details and scored characteristics about this location.
Listing Office: arhome realty
Listing Office Phone: 773-775-5500
Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Select a format below, new window will open and will prompt you to print.
AWARD WINNING SERVICES
GLOBAL REACH & HOME INSURANCE
WEBSITE AWARDS
Market Report
Sign up today to stay updated on what’s happening in your local real estate market.
