10-Story Office Building on Davis Street Sold for Millions

EVANSTON, IL - The 10-story office building at 500 Davis St. in Evanston was sold for $18 million last week, Crain’s Chicago reported.

It was bought by a venture of Steelbridge Capital.

“We love Evanston,” said Gavin Campbell, a Steelbridge managing partner. “It has one of the lowest vacancy rates in the Chicago market, and certainly the lowest in the suburbs. It's a 24-hour downtown, an urban infill market, which is where we like to buy. It's on the Metra and Chicago el lines, which is important because you can access workers from the suburbs and from downtown.”

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