investment highlights

1590 elmwood avenue | evanston, IL 60201


Berkadia Institutional Solutions is pleased to present the exclusive opportunity to purchase CENTRUM EVANSTON, a 360-degree glossy oasis in the heart of colorful, cultured Evanston, Illinois. This 2018-built, 101-unit, 12-story luxury apartment community defines sleek loft-style living and first-ring urban-suburban walkability.

The investment includes 3,979 SF of street-level retail space, 61% of which is occupied by Aligned Modern Health, and a lease for up to 55 spaces in the City-owned Sherman Plaza Self Park Garage on a pay-only-for-use basis providing convenient zero maintenance structured parking spaces for use by tenants.

investment highlights

assumable i/0 debt

Centrum Evanston offers the coveted opportunity to acquire a newer luxury property with very favorable assumable in-place debt. The Fannie Mae Interest-Only loan at 3.97% has almost 6.5 years remaining on its term.

  • Fannie Mae
  • Loan Amount: $30,680,000
  • Closing Date: February 28, 2019
  • Maturity Date: March 1, 2029
  • Term: 10 years
  • Interest Rate: 3.97% fixed rate
  • Interest-Only: 10-Year I/O
  • Prepayment: Yield Maintenance with last 6 months open at Par
  • Assumption: 1.0%


Walkable Retail, Eateries, & Entertainment: A walkable Retail, Eateries, & Entertainment: A “Walker’s Paradise” Awarded a 97 Walkscore® — Steps from Whole Foods, Target, USPS & UPS, Peet’s Coffee, Dunkin’ Donuts, CVS, Evanston Public Library, Nichols Concert Hall, Hilton and Hyatt Hotels, & Downtown Evanston’s 300+ Businesses, 3 Major Shopping Centers, and 80+ Restaurants

On-The-Spot Transit: 1-Minute Walk to Davis Purple Line CTA Stop & Adjacent to the Union Pacific-North Metra

Employment Epicentric:​ Conveniently Centered Between Downtown Chicago & North Suburban Job Markets

Top Ranked Livability:​ Evanston is Currently Ranked as the #2 Best Suburb for Young Professionals in Illinois ( and #28 for 2021 Top 100 Best Places to Live in America (Movoto &

Focus on Connectivity & Tech-Enhanced Ease:​ Integrated USB Ports in Kitchens & Bedrooms, Smartphone-Controlled Building Access, & Common Area Wi-Fi

Notable Northwestern University: 1/2 Mile to Education, Evanston’s #1 Employer, & 240 Acres of Enjoyable Green Space

lease trends

property summary


Year Completed




Number of Units


Average Unit Size

890 SF

Total Rentable Area

89,881 SF

Property Type


Site Size

0.44 Acres


3,979 SF





Urban Lifestyle Amenities

  • Private Study Rooms
  • Computer Lounge
  • Rooftop with Expansive Terrace and Sundeck
  • Fire Pit with Lounge Seating
  • Outdoor Grills
  • State-of-the-Art Fitness Center with Cardio Equipment and Peloton® Bikes
  • Yoga Studio with Fitness on Demand®
  • Club Room with Entertainment Kitchen
  • Complimentary Wi-Fi in All Amenity Spaces
  • LuxerOne® Package System
  • Pressbox® On-site Dry Cleaning
  • On-site Bike Storage & Maintenace Station
  • Storage Lockers
  • Smartphone-Controlled Building Access
  • Walkscore® 97 - “Walker’s Paradise”
  • One Minute Walk to Davis Purple Line CTA Stop
  • Adjacent to Union Pacific-North Metra Stop
  • In the Heart of Evanston’s Restaurant & Nightlife Scene
  • Convenient Coffee Shops to Energize Work or Lounge Nearby
  • Located Near Northwestern University & Evanston Hospital
  • Close Proximity to Vital Neighborhood Conveniences

Luxurious Interiors

  • Abaco by Snaidero Soft Close Cabinetry
  • Balterio Gray-Tone Plank Flooring
  • Stainless Steel Whirlpool® Appliances
  • Kohler Kitchen & Bath Fixtures
  • Pearl Quartz Kitchen & Bath Countertops
  • Frameless Glass Shower Doors
  • Private Balconies and Terraces*
  • Full-Size Stackable in-Unit Frigidaire® Washer/Dryer
  • Commercial Solar Shades on All Windows
  • Custom Built-In Closet Systems
  • Integrated USB Ports In Kitchen & Bedroom

*Select Units

photo gallery


Chicago Office

125 South Wacker Drive
Suite 400
Chicago, IL 60606

Milwaukee Office

833 East Michigan Avenue
Suite 950
Milwaukee, WI 53202

Investment Advisors

Peter W. Evans

Senior Managing Director

Richard G. Evans

Senior Director


Michael Slovitt

Managing Director

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. ​ ​

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