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Property Description
Pleased to present an amazing second-generation restaurant/retail opportunity in downtown Evanston, IL - steps to the Northwestern University campus. This 10,000 SF space has served Chicago's North Shore community as a restaurant space for many years. The space is both a fully functional 7,500 SF restaurant space along a connected 2,500 SF bar/taproom. The spaces can be leased separately. Substantial existing infrastructure is included in the lease including a hood with black-iron venting, walk-in coolers and freezer, prep tables, cooking appliances, tables, chairs, etc. The main restaurant space has a large center bar and the smaller bar space is set up as a tap room. There is also a full basement under the space for storage, back of the house, etc. This opportunity also comes with a parking lot adjacent to the property that can be used for valet on nights and weekends. The property could also be suitable for other uses including daycare, fitness, medical office and other retail and service uses. The property boasts long-term, stable ownership. Available immediately. DO NOT DISTURB TENANT OR THEIR EMPLOYEES. ALL INQUIRIES NEED TO BE VIA THE LISTING BROKERS.
Full Property Details
Full Property Details for 1563 Sherman Ave
General
- Taxes: $80,000 (2023)
- Status: Active
- Type: Commercial Lease
- Source: MRED
- MLS ID: 12274660
- Updated: 3/4/2026
- Added to Site: 398 day(s) ago
Additional Information
- Security/Safety: Other
Location
- Area: Evanston
- County: Cook
- Driving Directions: On Sherman Ave at Orrington Ave
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Central Heat/Individual Controls, Forced Air, Gas
Structural Information
- Stories/Levels: 2
- Year Built: 1984
Financial Considerations
- Lease Price: $23
- For Sale/Rent/Lease: For Rent Only
- Operating Expenses: $90,000
- Security Deposit: Other
- Assessment Year: 1984
- Tax Amount: $80,000
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Operating Stops, Taxes, Insurance, Repairs, Tax Stops, Sewer, Other, Varies by Tenant
Listed by Sperry Van Ness
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Schools
Schools serving 1563 Sherman Ave
School Districts:Evanston Community Consolidated School District 65, Evanston Township High School District 202
| Name | Grades | Distance |
|---|---|---|
Dewey Elementary School, Evanston, IL 1551 Wesley Avenue, Evanston, IL 60201 | K-5 | 0.5 mi |
Washington Elementary School, Evanston, IL 914 Ashland Avenue, Evanston, IL 60202 | K-5 | 1 mi |
Nichols Middle School 800 Greenleaf Street, Evanston, IL 60202 | 6-8 | 0.6 mi |
Evanston Twp High School 1600 Dodge Avenue, Evanston, IL 60201 | 9-12 | 1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Estimate the Cost
Estimate the Cost for 1563 Sherman Ave
1563 Sherman Avenue, Evanston, IL 60201 (MLS# 12274660) is a Commercial Lease property. 1563 Sherman Avenue is currently listed for and was received on January 30, 2025. Want to learn more about 1563 Sherman Avenue? Do you have questions about finding other Commercial Lease real estate for sale in Evanston? You can browse all Evanston real estate or contact a Coldwell Banker agent to request more information.

