Sherman Plaza, the tallest residential building in downtown Evanston at the time of its construction, consists of 253 condominiums, lofts, and penthouse residences, a garage with 1,585 parking spaces, and 156,000 GSF of retail space. The residents of Sherman Plaza have an array of amenities close at hand, including a 24-hour doorman, a green roof with a half-acre of space, a community room, and membership in a 54,000-square-foot health club.
Upon completion and lease-up of most of the retail space, Focus sold the Shops at Sherman Plaza to a national real estate acquisition and management firm.
Often, enhancing communities also involves building new value into them. Evanston had an unusable 700-car garage, but the city lacked the resources to fix it. Focus brought creative solutions to not only solve the city’s problem but also activate a larger economic engine for the area. Together, Focus and the city of Evanston utilized tax increment financing (TIF) to access new resources. A land swap with Focus provided a new location for much-needed parking. Focus tore down the unusable garage and, in its place, built a large, mixed-use environment that includes retail and condos. The new environment attracted consumers, residents, and retailers, spurring new economic activity to benefit the community at large.