Essex Realty Group, Inc. has been exclusively engaged to market for sale 2007 Ashland Ave., a 30-unit townhome community located on the corner of Ashland Avenue and Foster Street in Evanston, Illinois. The subject property is comprised of 7 buildings.
The community consists of eighteen (18) two bedroom/two bathroom units, eight (8) three bedroom/two bathroom units, and four (4) four bedroom/two bath units. Each unit is a duplex and includes individual HVAC systems and hot water heaters. The downstairs area features laminate and tile flooring, while the upstairs has carpet. Units also offer outdoor patios, and kitchens are equipped with either white or stainless steel appliances, along with laminate or granite countertops. Approximately half of the units have been remodeled.
The subject property participates in a Housing Assistance Program (HAP) contract that includes 100% of the apartments. The HAP contract expires on August 11, 2030, and is subject to Automatic Operating Cost Adjusted Factor (OCAF) increases. Copies of the HAP documents are available in the secure deal room.
Evanston, Illinois, an affluent suburb of Chicago, is located 14 miles north of Chicago’s Central Business District and is bordered by Skokie to the west, Wilmette to the north, and Lake Michigan to the east. Evanston is home to Northwestern University, which has a student population of approximately 16,000 undergraduate and graduate students. In addition, Evanston has a vibrant business community, healthcare, transportation systems and is surrounded by tree-lined streets, multi-million dollar single-family homes, beautiful parks, and lakefront access. The city’s diverse population includes students, university faculty, young professionals, and community-minded families.
According to Livability, in 2021 Evanston was ranked the 28th Best Place to Live in America, and according to Niche.com, Evanston is ranked as the 19th Best Town in America. The Evanston community has seen several recent multi-family developments along Ridge Avenue, as well as the renovation of commercial buildings in downtown Evanston. These projects have successfully attracted new residents and visitors, as well as high-end dining options to the downtown areas. Residents benefit from the multitude of community amenities including local eateries, boutiques, cafes, fitness options, parks, and trails.
- 30-Unit Townhome Community in Evanston
- Existing HAP Contract Expires in 2030
- Unit Mix of 2-, 3-, and 4-Bedroom Units