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2958 Central St - 2958 Central Street, Evanston, IL 60201 0.1 Acres of Commercial Land Offered at $450,000 in Evanston, IL 60201
Investment Highlights
- Prime Corridor Location: Highly visible ~4,200 SF infill site situated on North Evanston's premier Central Street commercial strip.
- Flexible Development Capacity: 2.0 base Floor Area Ratio (FAR) allowing up to ~8,400 GSF across 3 stories (40-ft max height limit).
- Holding Income Potential: Includes an existing 495 SF brick storefront for short-term rental income while finalizing architecture and permitting.
- Favorable Zoning & Overlay: Zoned B1a Business District under the Central Street Subarea 5 Overlay, clear path for ground-up mixed-use development
- Maximum Lot Yield: Permissible 0-foot side yard setbacks allow for a full 35-foot wide street-wall profile to maximize usable square footage.
- Clean & Fully Serviced Site: Confirmed free of asbestos; site has direct access to municipal water, sewer, electric, and gas utilities.
Executive Summary
Rare ~4,200 SF (35' × 120') infill development site in North Evanston’s highly desirable Central Street commercial district. Zoned B1a with Subarea 5 Overlay, permitting up to a 3-story / 40-foot height limit and a 2.0 base FAR (~8,400 max buildable GSF). Permissible 0-foot side yard setbacks allow full-width street frontage, ideal for ground-floor retail and upper-story multi-family/luxury residential units.
PROPERTY HIGHLIGHTS & TERMs:
Existing Structure: Includes an existing 495 SF standalone brick storefront generating potential holding/interim income during entitlement and permitting. Confirmed free of asbestos.
Access & Parking: Features 35 linear feet of frontage on Central Street with direct rear alley access, providing off-street parking layout or service access. Eligible for Transit-Oriented Development (TOD) parking requirement reductions.
Location: High-foot-traffic corridor within walking distance to Central Street Metra Station, Endeavor Health Evanston Hospital, and Northwestern University athletic facilities.
Sale Condition: Sold AS-IS. All utilities (gas, electric, municipal water/sewer) are connected to the site.
Property Facts
1 Lot Available
Lot
| Price | $450,000 | Lot Size | 0.10 AC |
| Price Per AC | $4,667,129.92 |
| Price | $450,000 |
| Price Per AC | $4,667,129.92 |
| Lot Size | 0.10 AC |
~4200 SF, rectangular lot with 35 linear feet of street frontage, this property has direct access to a rear public alley, ideal for off-street parking or service loading. It’s fully serviced with municipal utilities. B1a with Subarea 5 overlay.
Description
PREMIER INFILL DEVELOPMENT OPPORTUNITY ON CENTRAL STREET Exceptional commercial land parcel located on North Evanston’s highly desirable Central Street commercial corridor. Measuring approximately 35' × 120' (~4,200 SF), this rectangular infill site offers a streamlined path for a ground-up mixed-use boutique development. ZONING & DEVELOPMENT HIGHLIGHTS: Zoning: B1a Business District with Central Street Subarea 5 (Mixed-Use B) Overlay Guidelines. Density & Capacity: Base 2.0 Floor Area Ratio (FAR) allowing up to ~8,400 buildable GSF. Height & Setbacks: 3-story / 40-foot max height envelope with 0-foot side yard setback potential to maximize street frontage. Feasibility Concept: Ideal configuration for ~2,600 SF of ground-floor retail/commercial space paired with upper-story luxury residential apartments. Access & Parking: Serviced by direct rear public alley access providing off-street parking layout options with potential Transit-Oriented Development (TOD) parking reductions. EXISTING IMPROVEMENTS & SITE CONDITIONS: Includes an existing 495 SF standalone storefront structure offering immediate functional use or holding income during entitlement/permitting. Site is fully serviced with municipal utilities and confirmed free of asbestos. Sold AS-IS. LOCATION ADVANTAGES: High-visibility, highly walkable corridor situated steps from the Central Street Metra Station, Endeavor Health Evanston Hospital, and Northwestern University athletic facilities.
Property Taxes
| Parcel Number | 10-11-200-004-0000 | Improvements Assessment | $3,250 |
| Land Assessment | $42,000 | Total Assessment | $45,250 |
Property Taxes
Contact the Sale Advisor
2958 Central St - 2958 Central Street, Evanston, IL 60201