Eight-Office Business
New
For Sale
$399,900
1531 S Grove Avenue, Barrington, IL 60010
Commercial Sale, Barrington, IL
Property Size2,100 SF
Price / SF$190.43
Days on Market1
Property Features for 1531 S Grove Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OFFIC
Directions
DUNDEE RD EAST OF BARRINGTON RD TO GROVE AVE AND NORTH TO 1531. NEXT TO POST OFFICE
Subdivision
Barrington Area
Standard status
Active
APN
01124000111011
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14326
Utilities
Cooling system
Central Air
Amenities
storage area
snack area
landscaping
Building Details
Year built
2005
Floors in Building
2
Number of units
12
Flooring type
Tile, Carpet
Building materials
Brick
Listing Agency:
RE/MAX Liberty · RE/MAX International
(630) 825-2700
Listed By:
Timothy Winfrey
(847) 217-5795
Added: Oct 19
Last Checked: Oct 19 at 8:06PM
MLS# 12783921
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This office condominium contains 2,100 square feet, with an additional 20-by-10-foot storage area in the basement. Its 2024 buildout provides eight offices, a large reception area, two bathrooms and a snack area. Interior details include sound-reducing glass, mahogany doors, LED lighting, exposed ceilings with approximately 12 feet of clearance, and three built-in speakers serving the reception area and corridor. The snack area has a refrigerator and water filler. Central air conditioning and a sprinkler system serve the space; the furnace and air-conditioning equipment are two years old.
The property is part of a four-building office park with landscaped open areas. The exterior is brick and cement, and parking is available on site. Zoning is OFFIC. The building was constructed in 2005.
The property is part of a four-building office park with landscaped open areas. The exterior is brick and cement, and parking is available on site. Zoning is OFFIC. The building was constructed in 2005.
Key Highlights
- 2,100 square feet of office space plus a 20‑by‑10‑foot basement storage area
- 2024 interior buildout with eight offices and a reception area
- Two bathrooms and a snack area with refrigerator and water filler
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,956
Cap Rate
7.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,120
$579.1K
Cap Rate 7%
$413,657
$413.7K
Cap Rate 9%
$321,733
$321.7K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$51.4K $24.48/SF
− Vacancy
−$12.8K −$6.10/SF
EGI
$38.6K $18.38/SF
− OpEx
−$9.7K −$4.60/SF
NOI
$29.0K $13.79/SF
Area
Cook County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,120
Cap Rate 7%
$413,657
Cap Rate 9%
$321,733
Alternative Uses
Best Use
Office B
$413.7K
$362.0K – $482.6K
NOI $28,956 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$725.0K
$634.4K – $845.9K
NOI $50,752 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A 2024 interior plan includes private offices, a reception area, two restrooms and a snack station.
Where is this office unit located?
The property is located at 1531 S Grove Avenue Barrington, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,100 square feet of office space plus a 20‑by‑10‑foot basement storage area; 2024 interior buildout with eight offices and a reception area; Two bathrooms and a snack area with refrigerator and water filler
