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Office building boosts property sales

The sale of a 10-story downtown office building boosted the average price of properties sold in Evanston last month. But the volume of sales continued to lag year ago levels.

The poured concrete office building at 500 Davis St. was sold by Cornerstone Real Estate LLC to Samir Cumberland Center LLC for $21.75 million.

That sale bumped up the average selling price to $580,723 compared to $439,582 in May, and $512,391 in June a year ago. If the 500 Davis property is removed from the sales count, the average selling price last month drops to $453,198.

The 167 property transfers last month was up from 141 in May, but down sharply from 207 in June 2006 and 240 in June 2005.

So far this year 767 properties have changed hands in Evanston, compared to 822 in the same period a year ago. The total value of properties sold in 2007 stands at $378 million, compared to $386 million at this point last year.

In addition to 500 Davis, eight other properties sold for $1 million or more last month.

  • A lakefront home at 568 Ingleside Parkway sold for $3.675 million.
  • A courtyard apartment building at 1911-1923 Howard St. sold for $2.3 million. 
  • A newly-built home at 2721 Woodbine Drive, featured as last year’s Cottage Living magazine idea home, sold for $1.352 million.
  • A recently-built single family home at 2124 Ewing Ave. sold for $1.22 million.
  • A residential condo unit in a building at 1800 Ridge Ave. recently converted from office use sold for $1.091 million.
  • A single family home at 1243 Maple Ave. sold for $1.037 million.
  • A mixed-use retail and residential building at 2901 Central St. sold for $1.025 million. 
  • A condo on an upper floor of the Church Street Station building at 1640 Maple Ave. sold for $1 million.

 

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