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
488 Sheridan Road #2 Evanston, IL Lakefront Living at Lake Shore Condominiums in southeast Evanston. 1500 sqft of peaceful, ...	2 beds \| 1 baths \| 1,500 sq.ft.	$525,000	Airbnb cash on cash: -1.45% Traditional cash on cash: 0.18% Airbnb Rental Income: $1513 Traditional Rental Income: $1874 Airbnb ROI: -1.45% Traditional ROI: 0.18%
1516 Hinman Avenue #603 Evanston, IL Best-value 2 bed, 2 bath condo in an unbeatable Evanston location. Bright, open layout wit...	2 beds \| 2 baths \| 1,200 sq.ft.	$300,000	Airbnb cash on cash: -0.78% Traditional cash on cash: 3.3% Airbnb Rental Income: $1729 Traditional Rental Income: $2403 Airbnb ROI: -0.78% Traditional ROI: 3.3%
2106 Darrow Avenue Evanston, IL First time open May 9 & May 10 12-2.30. New construction row house with great curb appeal....	4 beds \| 5 baths \| 3,710 sq.ft.	$1,250,000	Airbnb cash on cash: 1.09% Traditional cash on cash: 1.96% Airbnb Rental Income: $3498 Traditional Rental Income: $3734 Airbnb ROI: 1.09% Traditional ROI: 1.96%
9343 Hamlin Ave Evanston, IL This well maintained, all brick, center entry Colonial, great location North of Church Str...	4 beds \| 3 baths \| 4,172 sq.ft.	$1,250,000	Airbnb cash on cash: -0.26% Traditional cash on cash: 0.48% Airbnb Rental Income: $3318 Traditional Rental Income: $3436 Airbnb ROI: -0.26% Traditional ROI: 0.48%
1321 Brummel Street Evanston, IL Spacious and sun-filled brick two-flat offering flexible living options and modern comfort...	6 beds \| 3 baths \| N/A	$685,000	Airbnb cash on cash: 0.89% Traditional cash on cash: 2.7% Airbnb Rental Income: $2921 Traditional Rental Income: $3402 Airbnb ROI: 0.89% Traditional ROI: 2.7%
2310 Brown Avenue Evanston, IL Move-in ready 2 bedroom, 2 bath row home that truly lives like a single-family home, ideal...	2 beds \| 2 baths \| 1,300 sq.ft.	$499,000	Airbnb cash on cash: 0.45% Traditional cash on cash: 2.45% Airbnb Rental Income: $1925 Traditional Rental Income: $2348 Airbnb ROI: 0.45% Traditional ROI: 2.45%
1720 Maple Avenue #1360 Evanston, IL	1 beds \| 1 baths \| 886 sq.ft.	$355,000	Airbnb cash on cash: -2.28% Traditional cash on cash: 2.25% Airbnb Rental Income: $1158 Traditional Rental Income: $2285 Airbnb ROI: -2.28% Traditional ROI: 2.25%
323 Sherman Avenue Evanston, IL Welcome to 323 Sherman, a beautifully maintained single-family home in the heart of Evanst...	4 beds \| 3 baths \| 3,514 sq.ft.	$899,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.93% Airbnb Rental Income: $null Traditional Rental Income: $3155 Airbnb ROI: N/A Traditional ROI: 0.93%
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.	$179,900	Airbnb cash on cash: -4.37% Traditional cash on cash: 2.11% Airbnb Rental Income: $1729 Traditional Rental Income: $2361 Airbnb ROI: -4.37% Traditional ROI: 2.11%
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: -2.03% Traditional cash on cash: -0.39% Airbnb Rental Income: $1925 Traditional Rental Income: $1983 Airbnb ROI: -2.03% Traditional ROI: -0.39%
1836 Hartrey Avenue Evanston, IL Stunning 5-Bedroom 3-Full Bath Residence \| Prime Evanston Location Discover the blend of m...	5 beds \| 3 baths \| 1,599 sq.ft.	$575,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.93% Airbnb Rental Income: $null Traditional Rental Income: $2721 Airbnb ROI: N/A Traditional ROI: 2.93%
1025 Wesley Avenue Evanston, IL SHORT SALE OPPORTUNITY! EXPANDED BUNGALOW BUILT IN 1922 AND UPDATED IN 2005. FOUR BEDROOMS...	5 beds \| 3 baths \| 2,500 sq.ft.	$625,000	Airbnb cash on cash: 0.49% Traditional cash on cash: 1.34% Airbnb Rental Income: $3312 Traditional Rental Income: $3067 Airbnb ROI: 0.49% Traditional ROI: 1.34%
8822 Central Park Avenue Evanston, IL	3 beds \| 2 baths \| 2,235 sq.ft.	$600,000	Airbnb cash on cash: 0.35% Traditional cash on cash: 2.6% Airbnb Rental Income: $2058 Traditional Rental Income: $2787 Airbnb ROI: 0.35% Traditional ROI: 2.6%
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.	$1,350,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.37% Airbnb Rental Income: $null Traditional Rental Income: $4151 Airbnb ROI: N/A Traditional ROI: 0.37%
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.	$190,000	Airbnb cash on cash: -2.31% Traditional cash on cash: 2.38% Airbnb Rental Income: $1768 Traditional Rental Income: $2132 Airbnb ROI: -2.31% Traditional ROI: 2.38%
704 Florence Avenue Evanston, IL	8 beds \| 5 baths \| N/A	$899,900	Airbnb cash on cash: 0.49% Traditional cash on cash: 0.53% Airbnb Rental Income: $3312 Traditional Rental Income: $2606 Airbnb ROI: 0.49% Traditional ROI: 0.53%
1028 Ashland Avenue Evanston, IL Spacious and well-maintained home set on an oversized 50 x 170 lot on one of Evanston's mo...	5 beds \| 3 baths \| 2,750 sq.ft.	$725,000	Airbnb cash on cash: 1.11% Traditional cash on cash: 0.64% Airbnb Rental Income: $3312 Traditional Rental Income: $2253 Airbnb ROI: 1.11% Traditional ROI: 0.64%
9132 Lincolnwood Drive Evanston, IL Fully done from A to Z - this completely reimagined split-level is a showpiece of high-end...	3 beds \| 3 baths \| 2,400 sq.ft.	$697,700	Airbnb cash on cash: 0.11% Traditional cash on cash: 2.58% Airbnb Rental Income: $2058 Traditional Rental Income: $3131 Airbnb ROI: 0.11% Traditional ROI: 2.58%
1735 Asbury Avenue Evanston, IL A truly special offering, this stunning 5 bedroom Victorian Home blends timeless architect...	5 beds \| 5 baths \| 5,295 sq.ft.	$1,925,000	Airbnb cash on cash: N/A Traditional cash on cash: -0.08% Airbnb Rental Income: $null Traditional Rental Income: $5238 Airbnb ROI: N/A Traditional ROI: -0.08%
1049 Hinman Avenue Evanston, IL Step into the timeless charm of this European-inspired 1904 Evanston home, offering 5 bedr...	5 beds \| 4 baths \| N/A	$1,250,000	Airbnb cash on cash: -0.02% Traditional cash on cash: 0.81% Airbnb Rental Income: $4069 Traditional Rental Income: $4166 Airbnb ROI: -0.02% Traditional ROI: 0.81%
1860 Sherman Avenue #5Nw Evanston, IL Welcome to 1860 Sherman Ave, Unit 5NW-a stunningly reimagined 2-bedroom, 1-bathroom haven ...	2 beds \| 1 baths \| 1,067 sq.ft.	$209,900	Airbnb cash on cash: 2.9% Traditional cash on cash: 4.91% Airbnb Rental Income: $1802 Traditional Rental Income: $1712 Airbnb ROI: 2.9% Traditional ROI: 4.91%
1580 sherman Avenue #906 Evanston, IL A lovely original 06 tier with eat-in kitchen and a huge balcony. In-unit laundry, indoor ...	2 beds \| 2 baths \| 1,345 sq.ft.	$399,000	Airbnb cash on cash: 0.49% Traditional cash on cash: 3.98% Airbnb Rental Income: $1729 Traditional Rental Income: $2557 Airbnb ROI: 0.49% Traditional ROI: 3.98%
1460 Dewey Avenue Evanston, IL Charming, 3 bedroom, 3 bathroom bungalow in prime Evanston location. This light-filled hom...	2 beds \| 3 baths \| 1,452 sq.ft.	$789,000	Airbnb cash on cash: -0.41% Traditional cash on cash: 1.4% Airbnb Rental Income: $1721 Traditional Rental Income: $2577 Airbnb ROI: -0.41% Traditional ROI: 1.4%

Real Estate investment in Evanston, IL

There are 90 properties for sale in the city of Evanston . The median list price in Evanston is $432,500 and the average price per square foot is $245. In May 2026, 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 90 investment properties available for sale in Evanston.

In 2026, the best neighborhood to buy investment property is Southwest.

The ROI for Short-Term is higher than the Long-Term in Evanston with average rental income of $1,925.

Your search for investment property begins and ends here

Investment Property for Sale in Evanston, IL

488 Sheridan Road #2

Evanston, IL

2 beds | 1 baths | 1,500 sq.ft.

$525,000

Airbnb cash on cash: -1.45%

Traditional cash on cash: 0.18%

Airbnb Rental Income: $1513

Traditional Rental Income: $1874

Airbnb ROI: -1.45%

Traditional ROI: 0.18%

1516 Hinman Avenue #603

Evanston, IL

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

$300,000

Airbnb cash on cash: -0.78%

Traditional cash on cash: 3.3%

Airbnb Rental Income: $1729

Traditional Rental Income: $2403

Airbnb ROI: -0.78%

Traditional ROI: 3.3%

2106 Darrow Avenue

Evanston, IL

4 beds | 5 baths | 3,710 sq.ft.

$1,250,000

Airbnb cash on cash: 1.09%

Traditional cash on cash: 1.96%

Airbnb Rental Income: $3498

Traditional Rental Income: $3734

Airbnb ROI: 1.09%

Traditional ROI: 1.96%

9343 Hamlin Ave

Evanston, IL

4 beds | 3 baths | 4,172 sq.ft.

$1,250,000

Airbnb cash on cash: -0.26%

Traditional cash on cash: 0.48%

Airbnb Rental Income: $3318

Traditional Rental Income: $3436

Airbnb ROI: -0.26%

Traditional ROI: 0.48%

1321 Brummel Street

Evanston, IL

6 beds | 3 baths | N/A

$685,000

Airbnb cash on cash: 0.89%

Traditional cash on cash: 2.7%

Airbnb Rental Income: $2921

Traditional Rental Income: $3402

Airbnb ROI: 0.89%

Traditional ROI: 2.7%

2310 Brown Avenue

Evanston, IL

2 beds | 2 baths | 1,300 sq.ft.

$499,000

Airbnb cash on cash: 0.45%

Traditional cash on cash: 2.45%

Airbnb Rental Income: $1925

Traditional Rental Income: $2348

Airbnb ROI: 0.45%

Traditional ROI: 2.45%

1720 Maple Avenue #1360

Evanston, IL

1 beds | 1 baths | 886 sq.ft.

$355,000

Airbnb cash on cash: -2.28%

Traditional cash on cash: 2.25%

Airbnb Rental Income: $1158

Traditional Rental Income: $2285

Airbnb ROI: -2.28%

Traditional ROI: 2.25%

323 Sherman Avenue

Evanston, IL

4 beds | 3 baths | 3,514 sq.ft.

$899,000

Airbnb cash on cash: N/A

Traditional cash on cash: 0.93%

Airbnb Rental Income: $null

Traditional Rental Income: $3155

Airbnb ROI: N/A