Eight-Office Business
For Sale
$399,900
205-1531 Grove Ave, Barrington, IL
The 2024 interior buildout combines private offices with reception space and an in-unit snack area.
Property Size1,900 SF
Price / SF$210.47
Days on Market13
Property Features for 205-1531 Grove Ave
General Information
Standard status
Active
Size
1,900 SF
Additional Details
Condition
Newly Renovated
Sprinkler System
Yes
Office Units
1
Property Use
Office
Taxes and HOA fees
Annual Taxes
$14,326
Amenities
landscaping
Building Details
Year Renovated
2024
Construction
brick and cement
Listing Agency:
RE/MAX Liberty
(630) 825-2700
Listed By:
Tim Winfrey · License #75086629
(630) 674-8371
Source:
Exprealty
Added: Oct 19
Changed: Oct 30
Last Checked: Oct 30 at 2:26PM
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 RE/MAX Liberty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office condominium has eight offices, a large reception area, two bathrooms and a snack area with a refrigerator and water filler. A 20-by-10-foot storage area is located in the basement. The interior buildout was completed in 2024, and the furnace and air conditioning system are two years old.
Interior features include soundproof glass, mahogany office doors, LED lighting, exposed ceilings approximately 12 feet high and three built-in speakers serving the reception area and corridor. The building has a sprinkler system. The exterior is brick and cement, and the office park comprises four buildings with landscaped open space.
Interior features include soundproof glass, mahogany office doors, LED lighting, exposed ceilings approximately 12 feet high and three built-in speakers serving the reception area and corridor. The building has a sprinkler system. The exterior is brick and cement, and the office park comprises four buildings with landscaped open space.
Key Highlights
- Eight offices and a large reception area
- 2024 interior buildout with two bathrooms and a snack area
- Basement storage area measuring 20 by 10 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,198
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,960
$524.0K
Cap Rate 7%
$374,257
$374.3K
Cap Rate 9%
$291,089
$291.1K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$46.5K $24.48/SF
− Vacancy
−$11.6K −$6.10/SF
EGI
$34.9K $18.38/SF
− OpEx
−$8.7K −$4.60/SF
NOI
$26.2K $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%
$523,960
Cap Rate 7%
$374,257
Cap Rate 9%
$291,089
Alternative Uses
Best Use
Office B
$374.3K
$327.5K – $436.6K
NOI $26,198 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$656.0K
$574.0K – $765.3K
NOI $45,919 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - The 2024 interior buildout combines private offices with reception space and an in-unit snack area.
Where is this office unit located?
The property is located at 205-1531 Grove Ave 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: Eight offices and a large reception area; 2024 interior buildout with two bathrooms and a snack area; Basement storage area measuring 20 by 10 feet
