The Main_Property for Sale
The Main_Property for Sale

The Main

847 Chicago Ave, Evanston, IL, 60202-2307, US

Description

Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) is pleased to present The Main, a luxury apartment community located in dynamic Evanston, a Chicago-adjacent suburb which boasts the best of urban-suburban living. The Main offers above-and-beyond luxury living including premier finishes, spacious floor plans ranging from studios to 3-bedroom homes. With an ideal amenity package that includes a fully-equipped fitness center, a landscaped terrace with a grilling station and outdoor dining, and a resident entertainment lounge, residents are able to enjoy a convenient lifestyle. The Main is conveniently located along Chicago Ave, an integral thoroughfare in Evanston with immediate access to the Main Street Metra and L stops, excellent grocery, and optimal dining options. Evanston’s A+ rated public schools and nationally ranked healthcare allow residents to have the highest quality of life with everything at their fingertips. The property is just 14 miles from Downtown Chicago providing residents with easy access to both urban and suburban amenities.

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Attributes

Number of units
112
Year built
2016
Building area net
100,737 sf
Parking spaces
134

Media

Investment Highlights

  1. Rare Value-Add Investment Opportunity
  2. Institutionally owned and operated since development; 4.7-star Google rating
  3. Opportunity to modernize units with select upgrades
  4. In-demand finishes & features
  5. Discount to replacement cost
  6. Floor plan optionality from studios to 3-bedrooms including floor plans with dens
  7. Strong Property Performance
  8. 6% trade outs on new leases and 3% growth on renewals in 2025
  9. Consistent 96% average occupancy since 2021
  10. 110 Units currently leased
  11. No concessions offered
  12. No bad debt
  13. ~44% Strong Northwestern Graduate Student Population
  14. Phenomenal Luxury Renter Market
  15. 4.4% average effective rent growth in the last 5 years
  16. De minimis units under construction in Evanston
  17. Renter-by-choice resident base
  18. #1 rent growth (4.5%) with lowest supply nationally among suburban markets
  19. Urban-Suburban TOD Location
  20. 91 Walk Score & 88 bike score
  21. Adjacent to both CTA purple line & Metra UP-N Line
  22. Steps to Lake Michigan
  23. 6 public beaches, 89 parks, and 50 playgrounds
  24. Easy access to bustling downtown Chicago & posh North Shore
  25. Northwestern University shuttle bus stops in front of building


The Main 4_Property for Sale
The Main 4_Property for Sale

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The Main (0 Properties)

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Last updated
10 Apr 2026