520 Main Street — Lease in Evanston, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Evanston, IL 60202

Photos

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Description

Former bank space available for sublease in luxury high rise building in Evanston

Market Context

This retail in Evanston, IL is listed for lease. Compare it against other retail listings for lease in Evanston, IL — view the full market.

As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 7.9% as of Q4 2025, per multiple brokerage reports.
Is the Chicago retail market tightening or softening?
Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).

Estimated Market Rate

$1.54/SF/mo – $2.08/SF/mo

Mid: $1.82/SF/mo

Based on comparable properties in similar markets rather than local sales.

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