820 Davis St., Evanston, IL
EVANSTON, IL—Marcus & Millichap brokered the sale of 820 Davis St., a 76,239-square-foot office building in downtown Evanston, IL, for $10.6 million.
Stephen Lieberman, first vice president, investments, in Marcus & Millichap's Chicago downtown office, exclusively marketed the property on behalf of the seller, a North Shore-based family that had owned the property for nearly 20 years. Lieberman also procured the buyer, Free Market Ventures, a Chicago-based private investment group that plans to renovate and modernize the building.
“The office market in Evanston is extremely stable, particularly in the central business district, where 820 Davis St. is located,” says Lieberman. “New ownership has the opportunity to renovate and reposition the property in the near term for additional value creation. Considering the current and future outlook for office space demand in downtown Evanston, ownership should prove to be successful.”
The five-story office building is located one block east of the Davis Street CTA and Metra train stations, four blocks south of the Northwestern University campus, and one block west of Fountain Square.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
