ProjectsResidentialEvanston Place
Evanston Place is a 190-unit institutional-quality high-rise located in Evanston, Illinois, directly adjacent to Northwestern University and Whole Foods. Built in 1990, the property features structured parking, a rooftop pool, and sweeping views of Lake Michigan, positioned within one of the most supply-constrained and high-demand rental submarkets in the greater Chicago metro. The asset benefits from direct adjacency to Northwestern University, which employs more than 10,000 people and generates perpetual housing demand. Residents enjoy walkable access to a Whole Foods directly across the street, the CTA Purple Line and Metra commuter rail, and Lake Michigan beaches and public waterfront parks. Extreme zoning restrictions limit new competition in the submarket. The value-add business plan targets renovation of 106 classic units. A modest exterior deferred maintenance program rounds out the physical improvement plan. Evanston Place is positioned to capture outsized rent premiums in a supply-constrained, institutionally-anchored submarket. |
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