940 Pitner Ave Evanston, IL 60202
West End Neighborhood
--
Bed
--
Bath
6,700
Sq Ft
7,200
Sq Ft Lot
Highlights
- Forced Air Heating System
- Walker Elementary School Rated A
- 5-minute walk to Harbert Payne Park
About This Home
As of January 2025940 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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,471
Year Built
- Built in 1955
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
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
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$2,851
Avg. Annual Appreciation
-0.36%
Original Mortgage
$1,050,000
Outstanding Balance
$1,044,605
Interest Rate
6.85%
Mortgage Type
New Conventional
Estimated Equity
$302,544
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
Similar Home in Evanston, IL
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
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,350,000 | Chicago Title | |
| Warranty Deed | $966,000 | Chicago Title | |
| Warranty Deed | $350,000 | Chicago Title Insurance Comp | |
| Warranty Deed | $220,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,050,000 | New Conventional | |
| Previous Owner | $1,050,000 | Commercial | |
| Previous Owner | $676,200 | Credit Line Revolving | |
| Previous Owner | $234,125 | Credit Line Revolving | |
| Previous Owner | $250,000 | Commercial | |
| Previous Owner | $280,000 | Commercial | |
| Previous Owner | $430,000 | Commercial | |
| Previous Owner | $215,000 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 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 Compared to Growth
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 |
|---|---|---|---|---|
| 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
32 Total Sales
-
Paul Fortman
Buyer's Agent in 2025
Paul Fortman
@ Properties
(773) 987-6056
1 in this area
97 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12178068
APN: 10-24-118-031-0000
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