Map of Property

Downtown Evanston Restaurant & Bar/Retail Opportunity

For Lease

1557-63 Sherman Avenue, Evanston, IL 60201

You can currently find 1 retail space(s) available for lease at Downtown Evanston Restaurant & Bar/Retail Opportunity. Designated use type for space listed here includes restaurant. Current retail listings at this property total 7,500 square feet. Lease type options include NNN. Expand the listing and property details below for additional information on leasing opportunities at Downtown Evanston Restaurant & Bar/Retail Opportunity.

Space Available For Lease 1

Contacts

Wayne Caplan

SVN | Chicago Commercial

Property Details

  • Property Type Retail - Restaurant
  • Property Size 7,500 SF
  • Lot Size 0.34 Acre
  • Date Updated May 18, 2026
This high-profile location is in downtown Evanston, IL on Sherman Ave between Davis St. and Grove St. Downtown Evanston is always a coveted destination for retail and restaurant tenants, offering prospective retail tenants a dynamic mix of local shops, cutting-edge dining experiences, entertainment hotspots, hotels, office buildings and thousands of area residents with disposable income. Its immediate proximity to the massive Northwestern University campus, only steps away, provides a non-stop, diverse and affluent customer base. Evanston draws retail and restaurant traffic from both the north side of Chicago and all of the adjacent north shore suburban communities. With its proximity to Lake Michigan and easy access to public transportation, tenants in this area are in a prime position to captivate local residents, students, and visitors alike. Join the thriving community of entrepreneurs and culinary innovators in this dynamic and sought-after market.SVN Chicago Commercial is pleased to present an exceptional second-generation restaurant/retail opportunity in downtown Evanston, IL, steps from the Northwestern University campus. This 7,500 SF space has served Chicago's North Shore community as a high-volume restaurant space for many years. The lease includes substantial existing infrastructure, including several hoods with black-iron venting, walk-in coolers and freezers, prep tables, cooking appliances, tables, and chairs. The restaurant space has a large horseshoe-shaped bar. There is also a partial 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.
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Highlights

  • ±7,500 SF Restaurant/Retail space in Downtown Evanston
  • 2nd Generation space with a fully functional kitchen
  • Basement for storage and back-of-the-house operations included
  • Close to both Metra and CTA Purple Line stations
  • Great demographics with approx. $130k Avg HH income and $624k home value within 1 mile
  • High traffic, high visibility location
  • Immediate availability
  • Join Giordano's Pizza- Opening in 2026
  • Many possible uses
  • On-site parking lot for valet and daytime parking
  • Seating for approx. 200 with multiple areas for standard service, banquets, parties, etc.
  • Steps to Northwestern University campus, many shops, restaurants, office buildings and thousands of area residents
  • Substantial restaurant infrastructure and FF&E included

Attachments

Getting around

  • 98/100

    Walk Score ®

  • 59/100

    Transit Score ®

  • 90/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Evanston, IL
  • Zip Code 60201
  • Market Chicago

Points of Interest

  • Noyes

    0.87 miles

  • Main

    0.89 miles

  • Central

    1.28 miles

  • South Boulevard

    1.29 miles

  • Howard

    1.91 miles

  • Linden

    1.92 miles

  • Jarvis

    2.16 miles

  • Rogers Park

    2.53 miles

  • Wilmette

    2.60 miles

  • Kenilworth

    3.40 miles

  • Shell

    0.45 miles

  • Citgo

    0.67 miles

  • Mobil

    0.71 miles

  • Exxon

    1.36 miles

  • Valero

    1.41 miles

  • Amoco

    1.52 miles

  • Food 4 Less

    1.56 miles

  • BP

    1.57 miles

  • Volta Charging Station

    3.67 miles

  • Blink

    3.87 miles

  • Holiday Inn Parking

    0.08 miles

  • Sherman Plaza Self Park Garage

    0.14 miles

  • Music Admin Lot

    0.34 miles

  • Maple Avenue Garage

    0.36 miles

  • Foster-Walker South Lot

    0.49 miles

  • Locy Lot

    0.56 miles

  • Foster-Walker Noth Lot

    0.56 miles

  • Loading Zone

    0.57 miles

  • Handicapped Parking

    0.57 miles

  • Lakeside Parking Structure

    0.59 miles

  • Reza's Restaurant

    0.01 miles

  • Trattoria Demi

    0.02 miles

  • Edzo's Burger Shop

    0.02 miles

  • Subway

    0.02 miles

  • Potbelly

    0.03 miles

  • Aloha Pokē Co

    0.04 miles

  • Koi

    0.05 miles

  • Ridgeville Tavern

    0.05 miles

  • Peppercorns Kitchen

    0.05 miles

  • Kansaku

    0.05 miles

  • Target

    0.12 miles

  • Whole Foods Market

    0.15 miles

  • Trader Joe's

    0.42 miles

  • Jewel-Osco

    0.45 miles

  • American Toby Jug Museum

    0.78 miles

  • D&D Finer Foods

    0.88 miles

  • Valli Produce

    1.07 miles

  • TJ Maxx

    1.57 miles

  • Food 4 Less

    1.60 miles

  • Marshalls

    1.64 miles

1557-63 Sherman Avenue Listing Brief

  • A property’s location contributes to the asking rent almost as much as its characteristics do. For instance, central urban locations with high walkability or suburban locations with ample parking and easy access by car will claim higher rents but offer superior access to your customer base. Likewise, the quality of the building systems and property finishes have a significant impact on how businesses can conduct their activity there, as well as on the experience of their customers.

    Retail space at Downtown Evanston Restaurant & Bar/Retail Opportunity asks $23.00/SF/YR per square foot.

  • The property includes 7,500 square feet of retail space for lease. Of this total, 7,500 square feet are Restaurant.

    Lease agreement conditions for the availability at this property include NNN.

    For more information or to schedule a tour of the property, use the convenient contact form on this page to get in touch with a representative.

  • You should keep in mind that different areas gradually build a reputation as hotspots or desirable corridors for shopping, eating, or other entertainment and consumer activities. So, while renting retail space in an area with a well-established high-end reputation might mean more customers that are more willing to spend, it will also place you in a more competitive environment.

Contact Listing Broker
Wayne Caplan

SVN | Chicago Commercial

  1. 1Main information
  2. 2Extra information
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