Barrington Office Condo For
1531 S Grove Ave, Barrington, IL 60010
Turnkey office condo in Executive Center Office Park.
Type:Office
Property size:
2,145 SFPrice / SF:
$198/SF- Added:
- Mar 11, 2026
- Days on Market:
- 68
- Last Refresh:
- Mar 19 at 10:45 pm
Property Features for 1531 S Grove Ave
General Information
- Standard status
- Active
- Size
- 2,145 SF
- Property subtype
- Office
Building Details
- Year Built
- 2004
Listing agent Lina Adamis License #IL 475213076
Listing office SVN | Chicago Commercial
Listing date Mar 11, 2026
Source Crexi
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
HighLights
- Turnkey 2,145 SF office condominium with high‑end finishes, renovated in 2018.
- Located in the prestigious Executive Center Office Park in Barrington with excellent visibility.
- Current tenant in place until Aug. 2026, providing immediate rental income.
- Features six private offices, a large conference room, modern kitchenette, and in‑suite restroom.
- Includes a 275 SF private storage room with built‑in shelving.
- Professionally managed property with association covering building, roof, and parking lot maintenance.
Overview
This 2,145 SF office condominium is located in the Executive Center Office Park in Barrington. The second-floor office suite, renovated in 2018, features six private offices, a large conference room, a modern kitchenette, a reception area, and an in-suite restroom. The suite benefits from natural light due to expansive exterior windows. It includes a newer furnace and AC unit. The property is professionally managed, with the association responsible for the building, roof, and parking lot. A 275 SF private storage room with built-in shelving is located in the building’s basement. The second-floor unit is accessible via elevator or a wide central staircase. The building has a large parking lot, and signage is available on the street directory. The property is located north of the intersection of Higgins and Barrington Road, as well as the full interchange for I-90, and 30 miles from Chicago. It is 0.7 miles from the Barrington Metra station, which offers hourly train service to Chicago's Ogilvie Transportation Center, with easy access to O'Hare International Airport, Woodfield Mall, Arboretum of South Barrington, St. Alexius Medical Campus, Now! Arena and a variety of fine dining, shopping, and entertainment. The current tenant occupies the condo until August 2026, allowing the new owner to collect rental income.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$328.6K
NOI $29,576 @ 9.00% cap · cautious / downside scenario
Moderate
$422.5K
NOI $29,576 @ 7.00% cap · market / base-case scenario
Aggressive
$591.5K
NOI $29,576 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| 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 Use Scenarios
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.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Barrington
- County
- Cook
- State
- Illinois
- Longitude
- -88.1269397
- Latitude
- 42.1318407
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Turnkey office condo in Executive Center Office Park.
Where is this office units located?
The property is located at 1531 S Grove Ave 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: Turnkey 2,145 SF office condominium with high‑end finishes, renovated in 2018.; Located in the prestigious Executive Center Office Park in Barrington with excellent visibility.; Current tenant in place until Aug. 2026, providing immediate rental income.
