940 Pitner AveEvanston, IL 60202

Property Details for 940 Pitner Ave

Property size (Sq ft)

6,700 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a five-unit apartment building located at 940 Pitner Ave, Evanston, IL 60202. The property boasts 6,700 square feet of net rentable space, currently operating at 100% occupancy, generating a strong net operating income (NOI) of $90,905 and a 6.73% capitalization rate. Asking price is $1,350,000. The building, originally a bow truss structure, underwent a complete transformation in 2010, resulting in a modern, loft-style apartment community designed by a renowned local architect. The unit mix includes two single-story one-bedroom/one-bathroom units and three duplex two-bedroom/one-bathroom units. Each unit features in-unit laundry and individual, high-efficiency HVAC systems, minimizing landlord expenses. Five off-street parking spaces are also provided. Situated in a vibrant Evanston neighborhood, the property benefits from proximity to various amenities including grocery stores, restaurants, and parks. This is a distinctive, cash-flowing asset with minimal operational expenses, making it an attractive investment opportunity. The property's Cook County APN is 10-24-118-031-0000. This meticulously renovated property offers a unique blend of modern living and historic charm, ensuring strong rental demand and long-term value.

Location Insight

City

Evanston

County

Cook

State

Illinois

Latitude

42.0352

Longitude

-87.7058

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