Monarch Brokers 2-Acre Evanston Real Estate Development
Monarch Realty Partners brokered the sale of a 2-acre real estate development site in downtown Evanston for $20,000,000. Bill Baumann, Co-Founder and Managing Broker at Monarch Realty Partners, was the exclusive and sole broker in the transaction.
The site which includes five contiguous parcels between Oak and Maple Avenues just south of Davis Street, included a senior living facility, the King Home, as well as a parking lot and gardens associated with the facility. The Seller, Westminster Place, had closed the facility earlier this year. It’s unclear how the buyer, Cameel Halim, a local real estate investor, intends to use the site.
Given its large urban footprint (half a city block) and strategic location only a block from the Metra station, CTA Purple Line and downtown, it’s an attractive site for a broad range of development types – apartments, hospitality, senior housing, office, even large box retail or commercial.
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