Building Details

Year Built 2009

Tenancy Single

Listing Agency: The Boulder Group

Listed By: Randy Blankstein · License #IL 471005983 Show Phone

Source: Crexi

Added: Apr 24 Changed: Sep 8 Last Checked: Jul 25 at 9:50AM

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Investment Insights

Based on property information with market context.

The sale includes adjacent, back-to-back restaurant concepts focused on high-volume ice cream and yogurt/smoothie service. The operations are offered turnkey, with high-end, state-of-the-art equipment included, along with inventory and supplies to support continued day-to-day operation.

The properties are positioned next to a smoothie store, with a new 24-hour gym planned directly next door. The listing address is 100 W Higgins Road 90, South Barrington, IL 60010.

For buyers seeking an all-in setup rather than building out from scratch, the included equipment package, inventory, and supplies are key practical components of this offering.

Key Highlights

• Adjacent back‑to‑back high‑volume ice cream and yogurt/smoothie stores
• Next door to a planned new 24‑hour gym
• High‑end, state‑of‑the‑art equipment included

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$357,299

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.54%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$7,145,980 $7.1M

Cap Rate 7%

$5,104,271 $5.1M

Cap Rate 9%

$3,969,989 $4.0M

Market Conditions

NOI Build-Up for 21,344 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$512.3K $24.00/SF

− Vacancy

−$35.9K −$1.68/SF

EGI

$476.4K $22.32/SF

− OpEx

−$119.1K −$5.58/SF

NOI

$357.3K $16.74/SF

Area

Cook County, IL

Vacancy

7.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$7,145,980

Cap Rate 7%

$5,104,271

Cap Rate 9%

$3,969,989

Alternative Uses

Best Use

Specialty Retail

$5.10M

$4.47M – $5.95M (±1% cap)

NOI $357,299 @ 7.0% cap · market cap 3.54%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$7.37M

$6.45M – $8.60M (±1% cap)

NOI $515,838 @ 7.0% cap · market cap 5.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

L.L.Bean Clothing Store Talbots Clothing & Fashion Store Joseph Nicola (Bike/Boat/Book/etc) Store Azar Jewelers (Bike/Boat/Book/etc) Store Manicures & Tiaras Event Planning

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Grocery & Convenience Store Electrical Service Barber Shop Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

337

Businesses Nearby

185k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Superstores 48% Dining 25% Apparel 12% Shops & Services 8%

Target Superstores

89,387 visits/mo 0.4 miles

Cooper's Hawk Winery & Restaurant Dining

21,033 visits/mo 0.1 miles

L.L.Bean Apparel

11,051 visits/mo 0.1 miles

Chase Bank Shops & Services

10,745 visits/mo 0.4 miles

Panera Bread Dining

9,803 visits/mo 0.1 miles

Demographics for 60010, IL

46,365

Population

17,621

Households

2.6

Avg Household Size

47

Median Age

70%

College-Educated

97%

High-School Grad

74.1 sq mi

ZIP Area

626

Density / Sq Mi

$175,050

Median Household Income

$86,255

Median Earnings

$2,459

Median Rent

$622,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turnkey restaurant operations with included high-end equipment, inventory, and supplies for immediate operations.

Where is this conventional restaurant located?

The property is located at 100 West Higgins Road South Barrington, IL.

What is the asking price?

The asking price for this property is $10,093,139.

What are key features of this property?

This property features: Adjacent back‑to‑back high‑volume ice cream and yogurt/smoothie stores; Next door to a planned new 24‑hour gym; High‑end, state‑of‑the‑art equipment included