Record Sale of Vintage Multifamily Gem on Central Street, Evanston: 2725-27 Central St
Record Sale of Vintage Multifamily Gem on Central Street, Evanston: 2725-27 Central St
Sale at a Glance
A beautifully maintained 14-unit vintage apartment building at 2725 Central St., Evanston, sold for $2,350,000 in a standout transaction brokered by Luke Wojcik and Matthew Fritzshall of Triton Realty Group. Located in one of Evanston’s most charming neighborhoods, this multifamily property drew strong investor interest thanks to its rare status and proximity to Northwestern University. The sale highlights the enduring appeal of well-located, value-add apartment assets in prime suburban markets.
Sale Details
This transaction showcases the successful disposition of a fully-rented, classic apartment asset.
Brokers: Luke Wojcik & Matthew Fritzshall, Triton Realty Group
Sale Price: $2,350,000
Close Date: April 15, 2025
Asset Type: Multifamily (14 units)
Lead Source: Recurring Client
Neighborhood: Central Street, Evanston
Unit Mix: 10 one-bed/one-bath, 4 two-bed/1.5-bath
Property Highlights
Classic architecture and thoughtful upgrades combine for lasting tenant and investor appeal.
Vintage Character: Well-preserved charm with modern amenities
Unit Features: Spacious 1BR (850 sq ft) and 2BR (1,000 sq ft) layouts with separate living and dining rooms
Recent Upgrades: Boiler replaced in 2014, 10 units with updated kitchens/baths in the past four years, three-story entryway windows
Tenant Conveniences: Common laundry, unusually large basement storage, 10 parking spaces (rented separately), heat and hot water included in rent
Outdoor Potential: Landscaped lot to the north for communal garden, patio, or future development
Key Investment Features
Unmatched location and stable tenancy set this property apart in the Evanston market.
Prime Location: Beautiful tree-lined Central Street, adjacent to local retail, restaurants, coffee shops, and steps from Northwestern University venues
Transit Access: Public transportation at the door, Metra nearby, and minutes to I-94 for easy Chicago access
Strong Occupancy: All 14 units fully leased at sale
Additional Income: Parking and large storage units provide extra revenue streams
Future Upside: Vacant adjacent lot offers value-add or expansion opportunity
Market Strategy and Positioning
Capitalizing on the property’s never-before-listed status and its exceptional maintenance history, the brokers tailored a marketing campaign highlighting the asset’s walkable location, stable tenant base, and value-add potential. By focusing outreach on recurring clients and investors seeking low-turnover, cash-flowing suburban multifamily, Triton Realty Group generated competitive offers quickly. The building’s proximity to Northwestern University, combined with its large layouts and plentiful amenities, proved irresistible to buyers seeking long-term upside in an iconic Evanston location.
Frequently Asked Questions (FAQs)
This Central Street sale captured attention for its unique blend of history, location, and investment appeal.
Q: What makes 2725 Central St. unique among Evanston apartment buildings?
A: Its combination of vintage character, modern upgrades, and a never-before-listed status in a sought-after walkable neighborhood is rare for the area.
Q: Are all units currently occupied, and what’s the tenant profile like?
A: Yes, all 14 units were fully leased at sale, with a mix of young professionals, graduate students, and long-term residents drawn by the proximity to Northwestern University and local amenities.
Q: What opportunities exist for future value creation?
A: The adjacent landscaped lot provides a canvas for additional units, community amenities, or outdoor tenant spaces, enhancing long-term returns.
Q: How does the location benefit tenants and investors?
A: With restaurants, coffee shops, and transit just steps away, plus easy access to the Northwestern campus and downtown Evanston, the property offers unbeatable convenience.
Q: What recent improvements have been made to the property?
A: Notable updates include a new boiler (2014), entryway windows, and recent kitchen/bath renovations in most units.
Want to achieve results like this?
Contact Triton Realty Group to discuss your property goals in Evanston and beyond.
