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J C Licht 2538 Green Bay Rd 15,771 SF 100% Leased Retail Building Evanston, IL 60201 $4,260,000 ($270.12/SF) 7.50% Cap Rate
Investment Highlights
- JC Licht 10-year NNN Lease | 2.5% Annual Increases | April 2036 Expiration
- High Density location: 358,892 Population within 5 miles.
- 0.4 Miles from Ryan Field, Home to Northwestern University Wildcats Football, and currently undergoing an $862 Million renovation
- 5 Apartment Units | 4 1-Bedrooms | 1 2-Bedroom
- Directly across the street from the Central Street Evanston Metra train station.
- 1.2 Miles from the center of the Northwestern University campus.
Executive Summary
We are pleased to present the mixed-use building located at 2538-2540 Green Bay Road in Evanston, IL for your acquisition review. The subject property is located at the heavily trafficked intersection of Green Bay Road and Harrison Street, and is located directly across the street from the Evanston Central Street Metra train station. The building features JC Licht on a new 10-year NNN Lease along with 5 apartment units on the second floor.
Evanston is a lakefront city immediately north of Chicago, anchored by Northwestern University (23,000 students) and connected to downtown via CTA rail and Metra commuter service. The community combines a dense, walkable downtown and transit corridors with established residential neighborhoods, strong public schools, and direct access to Lake Michigan beaches and parks.
Evanston is a lakefront city immediately north of Chicago, anchored by Northwestern University (23,000 students) and connected to downtown via CTA rail and Metra commuter service. The community combines a dense, walkable downtown and transit corridors with established residential neighborhoods, strong public schools, and direct access to Lake Michigan beaches and parks.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
15,771 SF
Building Class
C
Year Built
2000
Price
$4,260,000
Price Per SF
$270.12
Cap Rate
7.50%
NOI
$319,609
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.95
Lot Size
0.38 AC
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (88)
Nearby Major Retailers
Property Taxes
| Parcel Number | 10-12-200-012-0000 | Improvements Assessment | $281,457 |
| Land Assessment | $147,840 | Total Assessment | $429,297 |
Property Taxes
Parcel Number
10-12-200-012-0000
Land Assessment
$147,840
Improvements Assessment
$281,457
Total Assessment
$429,297
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J C Licht | 2538 Green Bay Rd
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