The North Shore Retirement Hotel in downtown Evanston has been sold. And the new owner reportedly plans to keep running it as a retirement community

View Larger Map

The North Shore Retirement Hotel, 1611 Chicago Ave.

Crain’s Chicago Real Estate Daily first reported the sale of the 185-unit building this morning. Evanston City Clerk Rodney Greene confirmed that the property was acquired for $8.8 million by Horizon Realty Group.

Crain’s says the sale by Irmco Properties & Management Corp. also involved another $1.7 million in personal property and other non-real estate assets.

Irmco has been selling off assets since the death of its founder. 

Jeffrey Michael of Horizon told Crain’s the company plans to spend about $4 million sprucing up the apartments and common areas of the building, which he described as being “a litle tired.”

Studio apartments at the hotel start at $2,000 a month including a meal plan.

Original story

Bill Smith is the editor and publisher of Evanston Now.

Leave a comment

The goal of our comment policy is to make the comments section a vibrant yet civil space. Treat each other with respect — even the people you disagree with. Whenever possible, provide links to credible documentary evidence to back up your factual claims.

Your email address will not be published.