Property Description

Attractive mixed-use investment opportunity in Evanston's highly desirable Dempster corridor. Property consists of a 2,200 SF restaurant space with basement storage, two second-floor residential units, a large shared sun deck, and separately rented garage spaces. Commercial and residential tenants are currently month-to-month, with one residential unit vacant, providing immediate leasing or owner-occupancy potential. Existing rents are substantially below market, creating significant value-add potential through lease optimization. Current ownership has maintained long-term tenants at below-market rates, providing investors with a rare opportunity to acquire a cash-flowing asset with meaningful upside. All tenants pay their own utilities, and the commercial tenant pays most of the water bill while maintaining its own trash service. Formerly configured as a dental office, the entire second floor could easily be converted back into a single professional office suite, making it ideal for medical, dental, legal, accounting, or other professional service users seeking a highly visible Evanston location. Strong visibility, high traffic counts, established commercial corridor, flexible mixed-use configuration, and multiple potential use scenarios make this a compelling opportunity for investors and owner-users alike. Restaurant business is NOT for sale; real estate only. Property sold AS-IS. PLEASE DO NOT DISTURB TENANTS OR EMPLOYEES. DO NOT DISCUSS THE SALE WITH TENANTS, RESTAURANT STAFF, OR CUSTOMERS.

Property Features