StorTrack’s featured market this month is Evanston, Ill., Evanston is located 12 miles north of Downtown Chicago. Northwestern University, NorthShore University HealthSystem and Evanston-Skokie School District 65 are a few top employers in the city. Evanston has a thriving business economy, several shopping areas and public lakefront recreation activities.
How is Evanston as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment
Self Storage Market Metrics for Evanston, IL
There is a 2.95 square feet per capita supply in this market. For comparison, Illinois‘s square feet per capita is 6.27. Out of the four self-storage stores currently operating in Evanston, three are REITs and one is a mid-size operator. There are no new planned development projects in this market, though there are 57 active projects across the state
Rates in Evanston have trended up in the last 12 months. The average rate per sq ft for standard, non-climate-controlled units is currently $1.31 and $1.69 for climate-controlled units.
View the Market Report for Evanston, IL
Is this a good market for you to invest in? To understand Evanston’s potential as a self-storage market, view this complimentary report, giving you useful market statistics and metrics. Additional metrics available with report purchase
To purchase a full market report for this or any other market, go to explorer.stortrack.com. Explorer is StorTrack’s market analysis platform for self-storage operators, investors and developers.
Explorer is available for the evaluation of any primary, secondary and tertiary market in the US, Canada and the UK. Sign up free to start evaluating self-storage markets
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