Tuesday, April 3, 2012

HFF marketing for sale The North Shore Hotel in Evanston, IL



CHICAGO, IL – HFF announced today that it has been named to market for sale The North Shore Hotel (top left photo), a 185-unit independent living retirement community in Evanston, Illinois. 

HFF is marketing the property on behalf of the seller, IRMCO Properties & Management Corporation. 

The North Shore Hotel is situated on a 1.5-acre site at 1611 Chicago Avenue across the street from Whole Foods and within walking distance of Northwestern University in Evanston. 

Originally built in 1919, the property has a six-story main building plus a single-story retail building to the immediate north.  Units are offered in studio, one- and two-bedroom layouts as well as room-only options without kitchens.

 The 90 percent occupied property currently offers residents three meals per day, daily housekeeping services, bath and linen service and a 24-hour front desk attendant.

 Community amenities include a pool, library, billiard room, fitness center, movie theatre, arts and crafts studio, ice cream parlor, grand ballroom, computer lab and on-site medical services and Wellness Center.

The HFF investment sales team representing IRMCO is led by executive managing director Matthew Lawton and managing directors Sean Fogarty, Marty O’Connell, Ryan Maconachy (middle right photo), Brian Kelly and director Chad Lavender (middle left photo).

“Due to its outstanding location, the property also provides an adaptive re-use opportunity to student housing or conventional multi-housing investors,” said Lawton.


Contacts:

SEAN P. FOGARTY                                 
Managing Director                                      
(312) 528-3675                                         
sfogarty@hfflp.com                                     

KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500

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