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1557 Sherman Ave 2,500 - 7,500 SF of Retail Space Available in Evanston, IL 60201
HIGHLIGHTS
- ±7,500 SF Restaurant/Retail space in Downtown Evanston
- Join Giordano's Pizza- Opening in 2026
- Close to both Metra and CTA Purple Line stations | Great demographics with approx. $130k Avg HH income and $624k home value within 1 mi.
- 2nd Generation space with a fully functional kitchen and Substantial restaurant, bar and tap room infrastructure and FF&E included
- Seating for ±250 with areas for standard service, banquets, parties, etc. | Steps to Northwestern University campus, many shops, restaurants, etc.
- Many possible uses | Immediate availability | Do not disturb tenants
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,500-7,500 SF | Negotiable | $23.00 /SF/YR $1.92 /SF/MO $172,500 /YR $14,375 /MO | Triple Net (NNN) |
1st Floor
SVN Chicago Commercial is pleased to present an exceptional second-generation restaurant/retail opportunity in downtown Evanston, IL, steps from the Northwestern University campus. This 7,500 SF space has served Chicago's North Shore community as a high-volume restaurant space for many years. The lease includes substantial existing infrastructure, including several hoods with black-iron venting, walk-in coolers and freezers, prep tables, cooking appliances, tables, and chairs. The restaurant space has a large horseshoe-shaped bar. There is also a partial basement under the space for storage, back of the house, etc. This opportunity also comes with a parking lot adjacent to the property that can be used for valet on nights and weekends. The property could also be suitable for other uses, including daycare, fitness, medical office, and other retail and service uses. The property boasts long-term, stable ownership. Available immediately.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Space is in Excellent Condition
- Kitchen
- ±7,500 SF Restaurant/Retail space
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 7,500 SF | Property Subtype | Restaurant |
| Min. Divisible | 2,500 SF | Gross Leasable Area | 10,000 SF |
| Property Type | Retail | Year Built | 1984 |
| Total Space Available | 7,500 SF |
| Min. Divisible | 2,500 SF |
| Property Type | Retail |
| Property Subtype | Restaurant |
| Gross Leasable Area | 10,000 SF |
| Year Built | 1984 |
ABOUT THE PROPERTY
SVN Chicago Commercial is pleased to present an exceptional second-generation restaurant/retail opportunity in downtown Evanston, IL, steps from the Northwestern University campus. This 7,500 SF space has served Chicago's North Shore community as a high-volume restaurant space for many years. The lease includes substantial existing infrastructure, including several hoods with black-iron venting, walk-in coolers and freezers, prep tables, cooking appliances, tables, and chairs. The restaurant space has a large horseshoe-shaped bar. There is also a partial basement under the space for storage, back of the house, etc. This opportunity also comes with a parking lot adjacent to the property that can be used for valet on nights and weekends. The property could also be suitable for other uses, including daycare, fitness, medical office, and other retail and service uses. The property boasts long-term, stable ownership. Available immediately.
- Restaurant
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
NEARBY MAJOR RETAILERS
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1557 Sherman Ave
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