Real Estate Investment Properties for Sale in Evanston, IL

Looking for investment property in Evanston, IL with high ROI ?

Explore a variety of short-term homes & houses in Evanston, IL. Invest wisely with VRBO & Evanston, IL Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Evanston, IL

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
2033 Sherman Avenue #504 Evanston, IL One block to Northwestern University campus, Three blocks to downtown Evanston, restaurant...	2 beds \| 2 baths \| 1,200 sq.ft.	$299,000	Airbnb cash on cash: 0.98% Traditional cash on cash: 3.56% Airbnb Rental Income: $2216 Traditional Rental Income: $2385 Airbnb ROI: 0.98% Traditional ROI: 3.56%
608 Hinman Avenue #4S Evanston, IL Beautiful newer construction building with top floor/ penthouse condo in pristine conditio...	3 beds \| 2 baths \| 1,800 sq.ft.	$449,900	Airbnb cash on cash: -1.06% Traditional cash on cash: 1.75% Airbnb Rental Income: $1971 Traditional Rental Income: $2640 Airbnb ROI: -1.06% Traditional ROI: 1.75%
1570 ELMWOOD Avenue #1302 Evanston, IL Bright, modern 3-bedroom, 3-bath residence in the highly sought-after ONE Evanston. Perche...	3 beds \| 3 baths \| 2,000 sq.ft.	$1,100,000	Airbnb cash on cash: -2.81% Traditional cash on cash: -1.25% Airbnb Rental Income: $1991 Traditional Rental Income: $3060 Airbnb ROI: -2.81% Traditional ROI: -1.25%
1720 Maple Avenue #1360 Evanston, IL Welcome to this spacious, move-in ready 886 sq. ft. north facing "Tier 60" condo with swee...	1 beds \| 1 baths \| 886 sq.ft.	$369,000	Airbnb cash on cash: -1.62% Traditional cash on cash: 2.13% Airbnb Rental Income: $1412 Traditional Rental Income: $2285 Airbnb ROI: -1.62% Traditional ROI: 2.13%
1811 Lyons Street Evanston, IL Stunning newer 3-Story Townhome Near Evanston Township High School. Welcome to 1811 Lyons,...	3 beds \| 4 baths \| 1,820 sq.ft.	$450,000	Airbnb cash on cash: 0.25% Traditional cash on cash: 3.84% Airbnb Rental Income: $1859 Traditional Rental Income: $2875 Airbnb ROI: 0.25% Traditional ROI: 3.84%
1633 Mcdaniel Avenue Evanston, IL Phenomenal opportunity to own a two-unit building with a potential garden unit that can be...	8 beds \| N/A baths \| N/A	$585,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.39% Airbnb Rental Income: $null Traditional Rental Income: $2496 Airbnb ROI: N/A Traditional ROI: 1.39%
1860 Sherman Avenue #7NE Evanston, IL Welcome to 1860 Sherman Avenue, Unit 7NE, Evanston, IL-a refined 2-bedroom, 1-bathroom co-...	2 beds \| 1 baths \| 1,100 sq.ft.	$186,000	Airbnb cash on cash: -3.73% Traditional cash on cash: 1.93% Airbnb Rental Income: $1859 Traditional Rental Income: $2361 Airbnb ROI: -3.73% Traditional ROI: 1.93%
1720 Maple Avenue #2710 Evanston, IL Panoramic views from EVERY ROOM in this designer home in Evanston's Luxury residences at O...	3 beds \| 4 baths \| N/A	$1,699,000	Airbnb cash on cash: -3.53% Traditional cash on cash: -2.11% Airbnb Rental Income: $1859 Traditional Rental Income: $3605 Airbnb ROI: -3.53% Traditional ROI: -2.11%
612 Mulford St #203 Evanston, IL 612 Mulford St #203, Evanston, IL 60202 \| Condo/Coop	4 beds \| 2 baths \| 2,000 sq.ft.	$395,000	Airbnb cash on cash: -1.91% Traditional cash on cash: 1.63% Airbnb Rental Income: $2036 Traditional Rental Income: $2817 Airbnb ROI: -1.91% Traditional ROI: 1.63%
2633 Crawford Avenue Evanston, IL Another stunning new construction single family home developed by XYiP Homes. Energy effic...	4 beds \| 4 baths \| N/A	$1,479,000	Airbnb cash on cash: N/A Traditional cash on cash: -0.47% Airbnb Rental Income: $null Traditional Rental Income: $3923 Airbnb ROI: N/A Traditional ROI: -0.47%
1915 Grant Street Evanston, IL Introducing UrbanEco on Grant! A fabulous new Pocket Neighborhood on Grant Street. 12 New...	2 beds \| 1 baths \| 600 sq.ft.	$369,000	Airbnb cash on cash: -1.35% Traditional cash on cash: -0.39% Airbnb Rental Income: $2207 Traditional Rental Income: $1983 Airbnb ROI: -1.35% Traditional ROI: -0.39%
1808 Laurel Avenue Evanston, IL Stylish transformation of this classic brick split-level conveniently located near schools...	3 beds \| 2 baths \| 1,800 sq.ft.	$499,000	Airbnb cash on cash: 0.7% Traditional cash on cash: 3.36% Airbnb Rental Income: $1965 Traditional Rental Income: $2692 Airbnb ROI: 0.7% Traditional ROI: 3.36%
1025 Wesley Avenue Evanston, IL EXPANDED BUNGALOW BUILT IN 1922 AND UPDATED IN 2005. FOUR BEDROOMS ON SECOND LEVEL WITH SP...	5 beds \| 3 baths \| 2,500 sq.ft.	$685,000	Airbnb cash on cash: 0.28% Traditional cash on cash: 1.14% Airbnb Rental Income: $3248 Traditional Rental Income: $3067 Airbnb ROI: 0.28% Traditional ROI: 1.14%
2321 Lee Street Evanston, IL Exceptional Evanston value-add opportunity featuring a 3-bedroom, 1-bath home with a flexi...	3 beds \| 1 baths \| 1,500 sq.ft.	$429,900	Airbnb cash on cash: 1.07% Traditional cash on cash: 2.3% Airbnb Rental Income: $2077 Traditional Rental Income: $2036 Airbnb ROI: 1.07% Traditional ROI: 2.3%
1585 Ridge Avenue #506 Evanston, IL Lovely 1 bedroom co-operative in downtown Evanston. This move-in condition unit features h...	1 beds \| 1 baths \| 758 sq.ft.	$145,000	Airbnb cash on cash: -2.69% Traditional cash on cash: 4.18% Airbnb Rental Income: $1211 Traditional Rental Income: $1774 Airbnb ROI: -2.69% Traditional ROI: 4.18%
807 Church Street #503 Evanston, IL EVANSTON GALLERIA! Fabulous downtown living in a stunning Art Deco building (originally Ma...	1 beds \| 1 baths \| N/A	$300,000	Airbnb cash on cash: -0.92% Traditional cash on cash: 1.29% Airbnb Rental Income: $1412 Traditional Rental Income: $1612 Airbnb ROI: -0.92% Traditional ROI: 1.29%
2108 Harrison Street Evanston, IL A Rare Opportunity in North Evanston - Generationally Owned Sears Home with Coach House Ne...	3 beds \| 3 baths \| 2,825 sq.ft.	$1,075,000	Airbnb cash on cash: -1.45% Traditional cash on cash: -0.1% Airbnb Rental Income: $2342 Traditional Rental Income: $3110 Airbnb ROI: -1.45% Traditional ROI: -0.1%
2011 Brummel St Evanston, IL 2011 Brummel St, Evanston, IL 60202 \| Single Family Residential	6 beds \| 3 baths \| 3,024 sq.ft.	$619,900	Airbnb cash on cash: N/A Traditional cash on cash: 1.81% Airbnb Rental Income: $null Traditional Rental Income: $3024 Airbnb ROI: N/A Traditional ROI: 1.81%
811 Chicago Avenue #308 Evanston, IL Huge 1600+ square foot corner unit priced to sell! Gracious floorplan has formal entry, e...	3 beds \| 2 baths \| 1,620 sq.ft.	$454,900	Airbnb cash on cash: -1% Traditional cash on cash: 2.96% Airbnb Rental Income: $1971 Traditional Rental Income: $3143 Airbnb ROI: -1% Traditional ROI: 2.96%
553 Barton Avenue Evanston, IL Desirable 4-bedroom, 2.5-bath townhouse with great bones - waiting for your personal finis...	4 beds \| 3 baths \| 1,843 sq.ft.	$505,000	Airbnb cash on cash: 0.05% Traditional cash on cash: 2.6% Airbnb Rental Income: $2036 Traditional Rental Income: $2712 Airbnb ROI: 0.05% Traditional ROI: 2.6%
616 Michigan Avenue G Evanston, IL	2 beds \| 1 baths \| 1,000 sq.ft.	$299,900	Airbnb cash on cash: 2.28% Traditional cash on cash: 3.44% Airbnb Rental Income: $1849 Traditional Rental Income: $1679 Airbnb ROI: 2.28% Traditional ROI: 3.44%
2236 Ridge Avenue Evanston, IL Gracious 5-bedroom Victorian in Northeast Evanston! Welcome to 2236 Ridge Avenue-a stately...	5 beds \| 4 baths \| 3,898 sq.ft.	$1,450,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.11% Airbnb Rental Income: $null Traditional Rental Income: $4151 Airbnb ROI: N/A Traditional ROI: 0.11%
604 Dodge Avenue Evanston, IL Don't Miss This One-Why Pay Rent When You Can Own? Welcome to this charming, sun-filled ra...	3 beds \| 2 baths \| N/A	$484,900	Airbnb cash on cash: 1.17% Traditional cash on cash: 2.59% Airbnb Rental Income: $2220 Traditional Rental Income: $2304 Airbnb ROI: 1.17% Traditional ROI: 2.59%
7730 N Paulina St #1 Evanston, IL 7730 N Paulina St #1, Evanston, IL 60626 \| Condo/Coop	4 beds \| 3 baths \| 2,797 sq.ft.	$450,000	Airbnb cash on cash: -1.08% Traditional cash on cash: 2.85% Airbnb Rental Income: $2036 Traditional Rental Income: $3163 Airbnb ROI: -1.08% Traditional ROI: 2.85%
1509 Maple Avenue 3 Evanston, IL Fall in love with this beautiful, updated, three-bedroom, two-bath penthouse condominium i...	3 beds \| 2 baths \| 1,500 sq.ft.	$475,000	Airbnb cash on cash: 0.57% Traditional cash on cash: 3.12% Airbnb Rental Income: $1991 Traditional Rental Income: $2600 Airbnb ROI: 0.57% Traditional ROI: 3.12%
1585 Ridge Avenue #404 Evanston, IL Spacious 2BR Co-op with Garage Parking in Prime Downtown Evanston Location. Beautifully up...	2 beds \| 1 baths \| 964 sq.ft.	$200,000	Airbnb cash on cash: -0.47% Traditional cash on cash: 2.11% Airbnb Rental Income: $2199 Traditional Rental Income: $2132 Airbnb ROI: -0.47% Traditional ROI: 2.11%

Real Estate investment in Evanston, IL

There are 65 properties for sale in the city of Evanston . The median list price in Evanston is $448,000 and the average price per square foot is $274. In December 2025, the average monthly cash on cash return in Evanston is 2.00%. The average monthly rental income in Evanston is $2,436.

Evanston, IL Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 65 investment properties available for sale in Evanston.

In 2025, the best neighborhood to buy investment property is Downtown.

The ROI for Short-Term is higher than the Long-Term in Evanston with average rental income of $1,991.

Your search for investment property begins and ends here

Investment Property for Sale in Evanston, IL

2033 Sherman Avenue #504

Evanston, IL

2 beds | 2 baths | 1,200 sq.ft.

$299,000

Airbnb cash on cash: 0.98%

Traditional cash on cash: 3.56%

Airbnb Rental Income: $2216

Traditional Rental Income: $2385

Airbnb ROI: 0.98%

Traditional ROI: 3.56%

608 Hinman Avenue #4S

Evanston, IL

3 beds | 2 baths | 1,800 sq.ft.

$449,900

Airbnb cash on cash: -1.06%

Traditional cash on cash: 1.75%

Airbnb Rental Income: $1971

Traditional Rental Income: $2640

Airbnb ROI: -1.06%

Traditional ROI: 1.75%

1570 ELMWOOD Avenue #1302

Evanston, IL

3 beds | 3 baths | 2,000 sq.ft.

$1,100,000

Airbnb cash on cash: -2.81%

Traditional cash on cash: -1.25%

Airbnb Rental Income: $1991

Traditional Rental Income: $3060

Airbnb ROI: -2.81%

Traditional ROI: -1.25%

1720 Maple Avenue #1360

Evanston, IL

1 beds | 1 baths | 886 sq.ft.

$369,000

Airbnb cash on cash: -1.62%

Traditional cash on cash: 2.13%

Airbnb Rental Income: $1412

Traditional Rental Income: $2285

Airbnb ROI: -1.62%

Traditional ROI: 2.13%

1811 Lyons Street

Evanston, IL

3 beds | 4 baths | 1,820 sq.ft.

$450,000

Airbnb cash on cash: 0.25%

Traditional cash on cash: 3.84%

Airbnb Rental Income: $1859

Traditional Rental Income: $2875

Airbnb ROI: 0.25%

Traditional ROI: 3.84%

1633 Mcdaniel Avenue

Evanston, IL

8 beds | N/A baths | N/A

$585,000

Airbnb cash on cash: N/A

Traditional cash on cash: 1.39%

Airbnb Rental Income: $null

Traditional Rental Income: $2496

Airbnb ROI: N/A

Traditional ROI: 1.39%

1860 Sherman Avenue #7NE

Evanston, IL

2 beds | 1 baths | 1,100 sq.ft.

$186,000

Airbnb cash on cash: -3.73%

Traditional cash on cash: 1.93%

Airbnb Rental Income: $1859

Traditional Rental Income: $2361

Airbnb ROI: -3.73%

Traditional ROI: 1.93%

1720 Maple Avenue #2710

Evanston, IL

3 beds | 4 baths | N/A

$1,699,000

Airbnb cash on cash: -3.53%

Traditional cash on cash: -2.11%

Airbnb Rental Income: $1859

Traditional Rental Income: $3605

Airbnb ROI: -3.53%