Evanston Apartment Building Sold and Renamed Eva
New ownership has taken over the 268-unit complex, which will now operate under the name Eva.
Updated on Oct. 10, 2026 in Apartments
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Draper & Kramer has finalized the acquisition of the former Albion apartment building in Evanston. The property, which includes 268 units, will be rebranded as Eva.
Why it matters
The acquisition marks Draper & Kramer's first investment in the Evanston market, which the firm views as a highly desirable rental destination. The building remains nearly at full capacity, with a 98.5% lease rate at the time of the sale.
The property contains 268 units ranging from 441 to 1,988 square feet, supported by 198 parking spots and ground-floor retail space. At the time of the transition, the building reported a 98% occupancy rate.
The players
Draper & Kramer
A real estate firm that manages residential properties and now oversees the newly renamed Eva complex.
Albion Residential
The developer that constructed the apartment building in 2019 and previously held ownership.
JILL
The real estate firm that represented the previous owner throughout the sale process.
The details
Draper & Kramer has assumed property management responsibilities for the complex. As part of the transition, the firm has already updated the building's digital presence to reflect its new identity as Eva. The structure was originally developed by Albion Residential in 2019.
Timeline
2017: Albion Residential purchased the land for $6 million.
2019: The apartment building was developed.
October 9, 2026: Draper & Kramer announced the purchase and name change.
The Home Front
This acquisition highlights the ongoing institutional interest in suburban rental stock following the 2019 apartment development cycle. It reflects a broader trend of property rebranding as new management firms enter established local markets.
Residents should monitor their email and building portals for updated lease documentation or payment instructions under the new management. If you have questions about your existing rental agreement, contact the property management office directly.
The takeaway
Large-scale property transfers can lead to shifts in building management and operational procedures. Tenants should file a copy of their current lease agreement in a secure location and keep an eye on official communications regarding potential updates to the resident portal or service contacts.
Further reading
For more on the local rental market, see Apartments.
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