May 28, 2019 Comments Off on Evanston Value-Add Historic Asset Up for Sale Views: 291 Chicago News, Greater Chicagoland

Evanston Value-Add Historic Asset Up for Sale

Essex Realty Group has been hired to market The Homestead at 1625 Hinman Ave. in Evanston. Currently listed on the National Register of Historic Places, it has operated as a boutique hotel and short-term rental for more than 90 years, and is now offered as a value-add investment opportunity.

“This can be an exceptional asset and opportunity for an investor with both imagination and a purposeful repositioning strategy in this dynamic university town and upscale suburb,” said Essex Realty’s Doug Fisher, who is marketing 1625 Hinman with Doug Imber and Matt Feo.

The property includes 91 apartments ranging from efficiency units to one-bedroom. It also features approximately 4,000 square feet of first-floor restaurant and lounge space.

A buyer could reposition 1625 Hinman as an apartment, student housing or senior housing property, or rebranded boutique hotel. It’s two blocks from Northwestern University, CTA Purple Davis line, Lake Michigan and downtown Evanston.

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