Your complete guide to business transactions in Chicago's premier North Shore community. Northwestern University, vibrant downtown, and sophisticated consumer base.
Evanston is a unique community that combines the energy of a major university town with the sophistication of Chicago's North Shore. Home to Northwestern University, Evanston offers a diverse economy driven by education, healthcare, professional services, and a thriving retail and restaurant scene.
The city's vibrant downtown, lakefront location, and excellent CTA/Metra access make it attractive to both residents and businesses. Evanston's educated, affluent population supports premium businesses while the university provides a steady flow of students, faculty, and visitors.
| Metric | Value |
|---|---|
| Population | 78,110 |
| Total Businesses | 4,200+ |
| Average Business Sale Price | $385,000 |
| Median Time to Sell | 8 months |
| Top Industries | Restaurants, Retail, Professional Services, Healthcare, Education |
| Region | Chicagoland (North Shore) |
| Median Household Income | $85,000+ |
Evanston's educated population and university presence create premium conditions for sellers:
Evanston offers unique opportunities for buyers seeking educated, affluent markets:
Northwestern is a major economic driver, bringing 20,000+ students, thousands of employees, and significant visitor traffic. Businesses benefit from this stable base but should understand seasonal patterns - summer and breaks see reduced student traffic. The university also attracts conferences and events year-round.
Evanston is more diverse and urban than other North Shore suburbs, with a vibrant downtown, excellent public transit, and a mix of residents from students to families to retirees. This diversity supports a wider range of businesses than more homogeneous communities.
Downtown Evanston is a premium location with high foot traffic, excellent transit access, and a mix of residents, students, and workers. While rents are higher, businesses benefit from the concentrated customer base and vibrant atmosphere. The area continues to see investment and development.
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