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716 Clark St 716 Clark St 18 Unit Apartment Building $13,450,000 ($747,222/Unit) 5.23% Cap Rate Evanston, IL 60201
Investment Highlights
- Adjacent to Northwestern University Campus in Evanston
- 100% Residential Occupancy
- 20 Units - 18 Residential + 2 Commercial
- Two Blocks from CTA Purple Line and Metra
Executive Summary
716 Clark Street offers the opportunity to acquire a stabilized, irreplaceable asset directly across from Northwestern University, one of the most supply-constrained rental markets in the Midwest. The apartments have never experienced a vacancy and collected 100% of rents even during the pandemic, delivering consistent, predictable revenue supported by Northwestern’s student demand and $15 billion endowment.
The large-bedroom unit mix is tailored to student group housing, where new supply remains structurally limited by zoning and construction economics. The property provides durable, recession-resistant income with negligible economic vacancy risk and no traditional lease-up exposure.
The large-bedroom unit mix is tailored to student group housing, where new supply remains structurally limited by zoning and construction economics. The property provides durable, recession-resistant income with negligible economic vacancy risk and no traditional lease-up exposure.
Property Facts
| Price | $13,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $747,222 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 5.23% | Building Size | 16,182 SF |
| No. Units | 18 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1907 |
| Zoning | D2 | ||
| Price | $13,450,000 |
| Price Per Unit | $747,222 |
| Sale Type | Investment |
| Cap Rate | 5.23% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 16,182 SF |
| Average Occupancy | 85% |
| No. Stories | 3 |
| Year Built | 1907 |
| Zoning | D2 |
Amenities
Unit Amenities
- Dishwasher
- Ceiling Fans
- Hardwood Floors
- Refrigerator
- Range
Site Amenities
- Laundry Facilities
- Laundry Service
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 7 | - | 902 |
| 3+2 | 5 | - | 920 |
| 4+2 | 6 | - | 1,049 |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 11-18-127-005-0000 | Improvements Assessment | $633,700 |
| Land Assessment | $61,500 | Total Assessment | $695,200 |
Property Taxes
Parcel Number
11-18-127-005-0000
Land Assessment
$61,500
Improvements Assessment
$633,700
Total Assessment
$695,200
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716 Clark St | 716 Clark St
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