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601-615 Dempster St 11,924 SF 100% Leased Retail Building Evanston, IL 60201 $7,500,000 ($628.98/SF) 5.65% Cap Rate
Executive Summary
Located at a prominent intersection in Evanston, 601 Dempster represents a premier transit-oriented redevelopment opportunity characterized by its high-visibility frontage and significant "national brand gravity" due to its proximity to anchors like Target and Whole Foods. The property's new M2 zoning offers substantial flexibility for a high-density mixed use project that can capitalize on the consistent foot traffic of the Dempster corridor. With 30 parking spaces and a prime location just steps from the purple line, the site offers the rare logistical infrastructure needed to support high volume residential density. By securing this corner, and occupier can anchor their presence in one of Evanston's most sought after submarkets. Existing retail and residential tenancy generates current cash flow that helps offset carrying costs while entitlement, design, and predevelopment efforts are advance.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
11,924 SF
Building Class
B
Year Built
1900
Price
$7,500,000
Price Per SF
$628.98
Cap Rate
5.65%
NOI
$423,750
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.55
Lot Size
0.50 AC
Zoning
M2 - Envision Evanston 2045 increased density and streamlined approvals.
Parking
30 Spaces (2.52 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Signalized Intersection
Moderately walkable
60/100
Moderately drivable
60/100
Good public transit
70/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $295,000 (2025) | |
| Land Assessment | $80,560 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $214,440 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$80,560 (2025)
Improvements Assessment
$214,440 (2025)
Total Assessment
$295,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
Contacts
-
Irv Gilner -
Emma DeCaigny -
Sophie Swift -
Grace Thompson -
Transwestern Commercial Services
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601-615 Dempster St
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