Dear recipient,
Brian Properties, Inc. is pleased to announce the successful closing of a mixed-use investment property located at 1918–1920 Harrison St. in Evanston, Illinois.
Representing the seller—a repeat client who entrusted the team with this assignment—Brian Properties, Inc. secured a final closing price of one million three hundred fifty thousand dollars. The buyer, a private investor identified through its proprietary network, acquired the asset at a 6.7% cap rate, reflecting the strength of both the property and its location.
The property is comprised eight one-bedroom apartments and one commercial retail space, supported by 11 income-producing parking spaces, a rare and highly valuable amenity in Evanston. Two of the eight apartments were recently renovated, generating a 25% rent increase. This presents the new owner with a clear value-add opportunity to replicate upgrades across the remaining units, driving rental income and long-term appreciation.
Situated within walking distance to Metra’s Central Street station, Northwestern University’s Ryan Field (currently undergoing a major renovation), and the Welsh Ryan Arena (a newly completed, first-class facility), the property benefits from strong fundamentals and sustained demand from residents and businesses alike. Evanston continues to attract investors due to its proximity to Chicago, dynamic university presence, and vibrant community atmosphere.
“This transaction highlights how deep market knowledge and investor relationships consistently deliver results for clients,” said Mark Meskauskas, President of Brian Properties, Inc. “The team is proud to have guided the client through another successful closing and to have created an opportunity that positions the buyer for strong future performance in the area.”
This underscores Brian Properties, Inc.’s long-standing reputation as a trusted partner in commercial real estate. With more than four decades of experience, the firm has helped clients across Chicagoland maximize value through strategic acquisitions, dispositions, and management services. Owners and investors repeatedly return to Brian Properties, Inc. for its proven ability to navigate complex markets and create tailored solutions.
As Brian Properties, Inc. continues to expand its track record of successful transactions, the team invites property owners and investors to connect with the Brian Properties, Inc. team to explore new opportunities aligned with their portfolio goals.
To learn more about Brian Properties, Inc., click the link below.
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