Description
Mixed-use building in Evanston with large commercial space, with high potential on a double lot! The asset has 4 residential units above commercial space with their own entrance. Commercial space is massive approx 5,000, with additional space in the basement. With rehab budget of 250k proforma Cap is 12%, please review OM in documents for financial breakdown. Purchase price is negotiable. Showings will be Jan 10th 11am-12pm and Jan 27th 2pm-3pm. Unit Mix 2 - 1 bed 1 bath, 1 - 2 bed 1 bath, 2 - Studios Note* City of Evanston Condemned on Aug 19th and forced tenants to leave due to unaddressed violation. Most pressing is water intrusion from roof leaks that have not been corrected. Roof will most likely need to be replaced, and water damage to interior units will need to be remedied. A full gut may be needed an estimated rehab budget of 250K was used to calculate proforma returns.
Location
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