Historic Mixed-Use
For Sale
$2,995,000
200 Applebee Street, Barrington, IL 60010
COMMERCIAL - Barrington, IL
Property Size60,000 SF
Lot Size1.73 Acres
Price / SF$49.92
Days on Market446
Property Features for 200 Applebee Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Main Street/Lake Cook Road, N on Applebee Street
Subdivision
Barrington Area
Standard status
Active
APN
13363120050000
Lot size
1.73 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
45124
Utilities
Cooling system
Central Air
Building Details
Year built
1890
Floors in Building
3
Number of units
31
Building materials
Brick
Listing Agency:
Compass
(847) 306-6158
Listed By:
Cynthia Patterson · License #475124650
Added: May 21, 2025
Changed: Aug 4
Last Checked: Aug 9 at 8:06AM
MLS# 12358853
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.
Investment Insights
Based on property information with market context.
This brick mixed-use property dates to 1890 and combines retail and office areas with established restaurant and brewery-pub operations. Central air supports the building, while two vintage 1920s railroad cars and a caboose are incorporated into the structure, creating an unusual architectural identity. The former Barrington train station was relocated to the site in 1977 and now houses Chessie's Restaurant.
The property occupies 1.73 acres in Barrington, Illinois, with on-site parking. Its commercial configuration accommodates multiple business functions within a single historic building, while the integrated rail elements and long-standing restaurant presence distinguish the asset from conventional retail or office properties.
The property occupies 1.73 acres in Barrington, Illinois, with on-site parking. Its commercial configuration accommodates multiple business functions within a single historic building, while the integrated rail elements and long-standing restaurant presence distinguish the asset from conventional retail or office properties.
Key Highlights
- 1.73‑acre mixed‑use commercial property in Barrington, IL
- Retail and office areas with restaurant and brewery‑pub operations
- Brick construction dating to 1890
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
$258,280
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
8.62%
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%
$5,165,600
$5.2M
Cap Rate 7%
$3,689,714
$3.7M
Cap Rate 9%
$2,869,778
$2.9M
Market Conditions
NOI Build-Up for 60,000 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
$388.8K $6.48/SF
− Vacancy
−$19.8K −$0.33/SF
EGI
$369.0K $6.15/SF
− OpEx
−$110.7K −$1.84/SF
NOI
$258.3K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
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%
$5,165,600
Cap Rate 7%
$3,689,714
Cap Rate 9%
$2,869,778
Alternative Uses
Best Use
Mixed Use
$14.46M
$12.66M – $16.88M
NOI $1,012,500 @ 7.0% cap · market cap 33.81%
Second Best
Retail
$11.90M
$10.41M – $13.88M
NOI $832,810 @ 7.0% cap · market cap 27.81%
Theoretical Best
Office A
$20.72M
$18.13M – $24.17M
NOI $1,450,068 @ 7.0% cap · market cap 48.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,829
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick commercial property combining retail, office, restaurant, and brewery uses with distinctive railroad features.
Where is this mixed-use property located?
The property is located at 200 Applebee Street Barrington, IL.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 1.73‑acre mixed‑use commercial property in Barrington, IL; Retail and office areas with restaurant and brewery‑pub operations; Brick construction dating to 1890
