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The Keg of Evanston 810-812 Grove St 8,042 SF 100% Leased Retail Building Evanston, IL 60201 For Sale
Investment Highlights
- 100% leased to Cupitol Coffee & Eatery and Tian Bistro under NNN leases producing NOI of $245,048
- Steps from the Davis Street CTA and Metra stations, providing excellent transit accessibility
- Vibrant trade area anchored by national brands like Trader Joe’s, Whole Foods, LA Fitness, McDonald’s, and Chase Bank
- Located in Evanston’s downtown retail corridor with strong demand drivers and affluent demographics
- Zoned D-2 (Downtown Retail Core), allowing redevelopment and potential value enhancement
Executive Summary
810–812 Grove Street offers an opportunity to acquire a fully leased trophy retail investment in the heart of Downtown Evanston, one of Chicago’s most desirable and supply-constrained suburban markets. The property is anchored by two established restaurant tenants operating under NNN leases, generating a stable cash flow for investors with minimal landlord responsibilities.
Positioned within Evanston’s thriving retail corridor, the property benefits from proximity to Northwestern University (23,000+ students, faculty, and staff), affluent surrounding neighborhoods, and immediate access to CTA and Metra stations. This location combines heavy pedestrian traffic with excellent visibility and provides consistent customer demand driven by the area's dense mix of retail, dining, and entertainment venues.
Zoned D-2, the asset permits long-term redevelopment, offering intrinsic land value alongside current income. The property resides among major retailers such as Trader Joe’s, Whole Foods, Walgreens, McDonald’s, LA Fitness, and Panera, further elevating its long-term investment appeal.
Positioned within Evanston’s thriving retail corridor, the property benefits from proximity to Northwestern University (23,000+ students, faculty, and staff), affluent surrounding neighborhoods, and immediate access to CTA and Metra stations. This location combines heavy pedestrian traffic with excellent visibility and provides consistent customer demand driven by the area's dense mix of retail, dining, and entertainment venues.
Zoned D-2, the asset permits long-term redevelopment, offering intrinsic land value alongside current income. The property resides among major retailers such as Trader Joe’s, Whole Foods, Walgreens, McDonald’s, LA Fitness, and Panera, further elevating its long-term investment appeal.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Bar
Building Size
8,042 SF
Building Class
B
Year Built/Renovated
1940/2014
NOI
$245,048
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.92
Lot Size
0.20 AC
Zoning
D-2
Parking
6 Spaces (0.79 Spaces per 1,000 SF Leased)
Frontage
81’ on Grove St
Amenities
- Corner Lot
Moderately walkable
70/100
Somewhat drivable
30/100
Strong public transit
80/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 11-18-317-008-0000 | Improvements Assessment | $227,205 |
| Land Assessment | $112,000 | Total Assessment | $339,205 |
Property Taxes
Parcel Number
11-18-317-008-0000
Land Assessment
$112,000
Improvements Assessment
$227,205
Total Assessment
$339,205
Contacts
-
Matt Tarshis -
Andrew Rubin -
Zack Pearlstein -
Andrew Slovis -
Frontline Real Estate Partners
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