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32441609
32441155

1029 Garnett Place, Evanston, IL 60201

KZ
IL 475205364
Horvath & Tremblay
JP
IL 475188524
Horvath & Tremblay
JP
IL 471010441
Horvath & Tremblay
Listed by Horvath & Tremblay
$1,595,000
48 days on market
Updated 48 days ago

1029 Garnett Place

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,545
Units 2
Cap Rate 6.82%
NOI $108,755
Price per SqFt $456
Year Built 1904
Buildings 1
Stories 2
Acreage 0.400
Parking Spaces 2 spaces
Parking Per SqFt 0.56
Ownership Fee Simple

Multi-Family | 3,500 SqFt | 3 Units

Marketing description

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 1029 Garnett Place in Evanston, IL (the “Property”). The two-story building contains three (3) 4-Bedroom/1-Bathroom units with 3,500 square feet of gross living area in 3,545 square feet of gross area. The Property is situated upon a 0.40-acre parcel and features garage parking spaces.

1029 Garnett Place is well-positioned in Evanston, offering strong access to the city’s vibrant downtown, neighborhood retail corridors, and surrounding residential communities. The property benefits from convenient connectivity to major regional routes including Interstate 94 (Edens Expressway) and U.S. Route 41, as well as proximity to multiple transit options including the CTA Purple Line and Metra Union Pacific North Line, providing efficient access to Chicago and the broader North Shore region.

Investment highlights

ACCESS & CONNECTIVITY

Residents are a short distance from multiple Chicago Transit Authority and Pace bus routes running along major nearby corridors such as Ridge Avenue, Green Bay Road, and Golf Road, including routes like CTA 201 (Central/Ridge) and Pace 208 and 213, which link Evanston to the Howard CTA terminal, downtown Evanston, Northwestern University area, Westfield Old Orchard, and communities to the north and west.

The Property is within easy reach of the CTA Purple Line and Metra Union Pacific North Line at the Davis Street transit hub in downtown Evanston, providing direct rail service to Chicago and northern suburbs.

AREA AMENITIES & DEMAND DRIVERS

Residents benefit from close proximity to several major employment centers, including NorthShore University HealthSystem, Saint Francis Hospital, and the City of Evanston Civic Center. These institutions provide a significant base of healthcare, government, and professional employment that supports consistent rental demand.

The nearby downtown district serves as a growing hub for office, lab, and service-sector jobs, including new developments like Evanston Labs, alongside a concentration of professional services, technology firms, and retail employers. This creates a strong live-work-play environment that is highly attractive to young professionals and graduate students.

Evanston benefits from proximity to downtown Chicago’s major employment centers, home to major corporations such as JPMorgan Chase, United Airlines, Google, and Salesforce, among others.

PROXIMITY TO NORTHWESTERN UNIVERSITY

The Property benefits from close proximity (0.6 miles) to Northwestern University, a world class private research university home to over 23,000 total students and over 4,000 faculty members, supporting stable employment and housing demand from students, faculty, and staff seeking nearby off campus housing.

SEPARATELY METERED UTILITIES

Tenants are responsible for all utilities at the Property, including gas-powered heat & hot water, separately metered electricity, and city water & sewer, which they pay directly.

DURABLE BRICK CONSTRUCTION

The Property features durable brick construction, a highly desirable characteristic for both investors and residents. Brick buildings are widely regarded for their long-lasting quality, structural integrity, and timeless appeal. Unlike wood or siding exteriors, brick requires minimal upkeep over time, making it a cost-effective and low-maintenance choice.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 33,800 people live within 1 mile of the Property with an average household income of $159,938. Over 158,100 people reside within 3 miles of the Property with an average household income of $176,110.

QUALITY OF LIFE AMENITIES

Residents are a short drive or quick bus ride from downtown Evanston’s vibrant dining scene, which includes well-known local favorites such as Lou Malnati’s Pizzeria, Union Pizzeria, The Peckish Pig, Tapas Barcelona, Blind Faith Cafe, Lucky Platter, and Cupitol Coffee & Eatery, providing a wide range of casual, family-friendly, and date-night options.

Everyday retail needs are well covered by multiple grocery options, including a downtown Evanston Whole Foods Market on Chicago Avenue and a Trader Joe’s in south Evanston, as well as several Jewel-Osco supermarkets in and around the city, giving residents convenient access to both specialty organic and traditional full-line grocery offerings.

For outdoor recreation, residents are close to Evanston’s acclaimed Lake Michigan lakefront, with multiple beaches such as Clark Street Beach, Lee Street Beach, and Greenwood Street Beach, offering swimming, beach volleyball, walking and biking paths, and expansive open-water views during the summer season.

Listing Contacts

KZ
IL 475205364
Horvath & Tremblay
JP
IL 475188524
Horvath & Tremblay
JP
IL 471010441
Horvath & Tremblay
Listed by Horvath & Tremblay

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$108,755.00
$9,062.92/mo

Valuation Metrics

0
DSCR
6.82%
Cap Rate
6.82%
ROI

Map

Zoning

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R4A ResidentialMulti FamilyGeneral Residential
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Last updated Jun 8, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Kelsey Zurweller
License
475205364
Name
John Preston
License
475188524
Name
John Przybyla
License
471010441
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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