Turnkey Office Condominium
1531 Grove Unit 206 Barrington, IL 60010
1531 Grove Unit 206, Barrington, IL, 60010
$424,900
For Sale
$424,900
Second-floor office suite with private offices, conference room, kitchenette, reception area, and in-suite restroom.
Property Size2,145 SF
Price / SF$198.09
Days on Market114
Property Features for 1531 Grove Unit 206
General Information
- Standard status
- Active
- Size
- 2,145 SF
- Property subtype
- Office
Building Details
- Year Built
- 2004
Listing agency
SVN | Chicago Commercial
(312) 676-1862
Listed by
Olivia Czyzynski · License #475146577
Source
Svnchicago
Added: Apr 1 Updated: Jul 22 at 7:18PM Checked: Jul 22 at 7:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Chicago Commercial
Investment Insights
Based on property information with market context.
1531 Grove Unit 206 is a turn-key 2,145 SF office condominium suite located on the second floor of the Executive Center Office Park. The space includes six private offices, a large conference room, a modern kitchenette, a welcoming reception area, and an in-suite restroom. The suite also features expansive exterior windows for natural light and high-end finishes including marble flooring. Renovated in 2018, the unit is equipped with a newer furnace and AC unit. In addition, the offering includes 275 SF of storage space.
The association provides professional management and handles building services, including the roof and parking lot.
The association provides professional management and handles building services, including the roof and parking lot.
Key Highlights
- 2,145 SF second‑floor office condominium in Executive Center Office Park (Barrington)
- Renovated in 2018 with high‑end finishes including marble flooring
- Layout includes six private offices, a large conference room, reception area, and modern kitchenette
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.5k | $24.48 |
| − Vacancy | −$13.1k | −$6.10 |
| EGI | $39.4k | $18.38 |
| − OpEx | −$9.9k | −$4.60 |
| NOI | $29.6k | $13.79 |
2,145 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$422.5K
$369.7K – $492.9K
NOI $29,576 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Second-floor office suite with private offices, conference room, kitchenette, reception area, and in-suite restroom.
Where is this office units located?
The property is located at 1531 Grove Unit 206 Barrington, IL.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 2,145 SF second‑floor office condominium in Executive Center Office Park (Barrington); Renovated in 2018 with high‑end finishes including marble flooring; Layout includes six private offices, a large conference room, reception area, and modern kitchenette
