Essex Realty Group Lists 63-Unit Apartment Building in Evanston For $11.75MM
Chicago-based multifamily brokerage firm Essex Realty Group, LLC is pleased to announce it has been exclusively engaged to market for sale 1400 Chicago Avenue, a 63-unit apartment building in downtown Evanston, Illinois.
The eight-story building is comprised of 20 studios and 43 one-bedroom apartments. The Property also includes a parking lot for 10 cars. Although the building has been well-maintained by long-term ownership, the common areas and apartments are in vintage condition, providing an opportunity for cosmetic repositioning.
Essex Principals Doug Imber and Brian Karmowski are representing the seller of the transaction. According to Karmowski, “Historically, there are usually only about four apartment buildings that trade each year in Evanston. It is such a desirable investment market that owners tend to hold for the long-term. It’s even rarer that such a well-located property with this kind of repositioning upside becomes available for sale.”
Prime Downtown Evanston Location
Located two blocks from Lake Michigan, less than one block from the CTA Purple Line, and just a few blocks of the Davis Street Metra Station (UP-North Line), 1400 Chicago Avenue offers residents direct transit access to downtown Chicago. The building is also steps from downtown Evanston’s vibrant retail, dining, and entertainment options, as well as Northwestern University. With strong rental demand driven by university proximity, transit connectivity, and a walkable urban setting, the property presents a compelling investment opportunity in one of the North Shore’s most consistently high-performing rental markets.
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