NOT LISTED FOR SALE

940 Pitner Ave Evanston, IL 60202

West End Neighborhood

Estimated Value: $1,281,000 - $1,476,500

5 Beds
5 Baths
6,700 Sq Ft
$206/Sq Ft Est. Value

Last Sold January 30, 2025

Last sale price $1,350,000 $201 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $8,459/month

21 Days on Market

Highlights

  • Forced Air Heating System
  • Walker Elementary School Rated A-
  • 5-minute walk to Harbert Payne Park

About This Home

As of January 2025

940 Pitner Ave consists of five (5) live-work, loft-style apartments with off-street parking. Originally a bow truss building, the property was completely transformed into a modern, loft-style apartment community through an adaptive re-use project in 2010, completed by a renowned local architect. All units feature individual HVAC systems and in-unit laundry. The investment presents the opportunity to acquire a distinctive, cash-flowing asset with minimal operational expenses.

Last Agent to Sell the Property

Melissa Morgan

Flats, LLC License #475165598 Listed on: 10/01/2024

Last Buyer's Agent

Paul Fortman

@properties Christie's International Real Estate License #475125083

@properties Christie's International Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,471

Year Built

  • Built in 1955

Lot Details

  • 7,200

Home Design

  • Brick Exterior Construction
  • Wood Truss/Raft

Interior Spaces

  • 6,700 Sq Ft Home
  • 1-Story Property

Additional Features

  • 7,200 Sq Ft Lot
  • Forced Air Heating System

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat

Community Details

Overview

  • 5 Units

Building Details

  • Insurance Expense $2,025
  • Maintenance Expense $1,500
  • Other Expense $2,920
  • Trash Expense $696
  • Water Sewer Expense $754
  • Operating Expense $28,328
  • Gross Income $123,720
  • Net Operating Income $90,905

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,471

Year Built

Built in 1955

Lot Details

7,200 Sq Ft Lot

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 1
  • Year Built: 1955
  • Built Before 1978 (Y/N): Yes
  • Information: 48-Hr Notice Required
  • Estimated Age: Older
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Roof Structure: Truss

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Heat/Ventilation: Central Heat/Indiv Controls,Forced Air

Fee Information

  • Trash Expense: 696
  • Water Sewer Expenses: 754

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 7200
  • Lot Size Sq Ft: 7200

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Board Number: 2

Building Info

  • BuildingAreaTotal: 6700

Multi Family

  • Net Operating Income: 90905
  • Insurance Expense: 2025
  • GrossIncome: 123720
  • Maintenance Expense: 1500
  • NumberOfUnitsTotal: 5
  • OperatingExpense: 28328
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 14471
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 1, 2024
Closed on
Jan 28, 2025
Sold by
Pitner Lofts Llc
Bought by
940 Pitner Lofts Llc
Seller's Agent
Melissa Morgan
Flats, LLC
Buyer's Agent
Paul Fortman
@properties Christie's International Real Estate
List Price
$1,350,000
Sold Price
$1,350,000
Views
17
Current Estimated Value
$1,378,750

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$28,750
Avg. Annual Appreciation
1.88%
Original Mortgage
$1,050,000
Outstanding Balance
$1,039,966
Interest Rate
6.85%
Mortgage Type
New Conventional
Estimated Equity
$338,784

Purchase Details

Closed on
Jul 14, 2016
Sold by
Adas Al and Adas Signe
Bought by
Pitner Lofts Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$676,200
Interest Rate
3.6%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Aug 27, 2003
Sold by
Berger Mike
Bought by
Nam Sang Kook

Purchase Details

Closed on
May 4, 2000
Sold by
Tannebaum Melvin and Tannebaum Phyllis
Bought by
Berger Mike

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,000
Interest Rate
8.66%
Mortgage Type
Commercial
Source: Public Records
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
940 Pitner Lofts Llc $1,350,000 Chicago Title
Pitner Lofts Llc $966,000 Chicago Title
Nam Sang Kook $350,000 Chicago Title Insurance Comp
Berger Mike $220,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 940 Pitner Lofts Llc $1,050,000
Previous Owner Pitner Lofts Llc $676,200
Previous Owner Berger Mike $215,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/30/2025 01/30/25 Sold $1,350,000 0.0% $201 / Sq Ft
12/14/2024 12/14/24 Off Market $1,350,000 -- --
10/22/2024 10/22/24 Pending -- -- --
10/01/2024 10/01/24 For Sale $1,350,000 -- $201 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $14,472 $102,000 $10,440 $91,560
2024 $14,472 $59,000 $8,640 $50,360
2023 $13,883 $59,000 $8,640 $50,360
2022 $13,883 $59,000 $8,640 $50,360
2021 $9,939 $36,955 $6,120 $30,835
2020 $9,804 $36,955 $6,120 $30,835
2019 $10,071 $42,429 $6,120 $36,309
2018 $16,808 $60,546 $5,040 $55,506
2017 $16,367 $60,546 $5,040 $55,506
2016 $15,519 $60,546 $5,040 $55,506
2015 $12,238 $45,000 $6,120 $38,880
2014 $12,120 $45,000 $6,120 $38,880
2013 $11,841 $45,000 $6,120 $38,880
Source: Public Records

Agents Affiliated with this Home

  • Melissa Morgan

    Seller's Agent in 2025

    Melissa Morgan

    Flats, LLC

    (847) 456-1206

    1 in this area

    31 Total Sales

    Melissa Morgan
    Section Image
  • Paul Fortman

    Buyer's Agent in 2025

    Paul Fortman

    @ Properties

    (773) 987-6056

    1 in this area

    90 Total Sales

    Paul Fortman
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12178068

Midwest Real Estate Data (MRED)

APN: 10-24-118-031-0000

Illinois Cook County Evanston 60202 West End

940 Pitner Ave, Evanston, IL

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID

Nearby Homes
Your Personal Tour Guide

Ask me questions while you tour the home.