Mixed-Use Property with Retail
28662 W Northwest Highway, Lake Barrington, IL 60010
For Sale
$2,300,000
A separate accessible office and medical building complements the property's retail component.
Property Size12,655 SF
Price / SF$181.75
Days on Market98
Property Features for 28662 W Northwest Highway
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Mixed-Use Components
Additional Details
Cap Rate
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
full motion video sign
handicap accessible
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Baird & Warner
(847) 650-1552
Listed By:
John Trandel · License #475107955
Source:
Premier-relocation
Added: Aug 4
Changed: Nov 8
Last Checked: Nov 8 at 2:21PM
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 Baird & Warner
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Investment Insights
Based on property information with market context.
This 12,655-square-foot mixed-use property, built in 2003, combines retail space with a separate office and medical building. The latter is handicap accessible. The property spans 2.81 acres and is zoned COMMR.
Along Route 14 (Northwest Highway), the site has 340 feet of frontage. Good Shepherd Advocate Hospital, downtown Barrington and Fox River Grove are nearby. On-site parking serves the property, and a full-motion digital sign displays real-time tenant advertising.
The rear area offers room for additional parking and office space, while an outlot could also be developed. The reported cap rate is 7%.
Along Route 14 (Northwest Highway), the site has 340 feet of frontage. Good Shepherd Advocate Hospital, downtown Barrington and Fox River Grove are nearby. On-site parking serves the property, and a full-motion digital sign displays real-time tenant advertising.
The rear area offers room for additional parking and office space, while an outlot could also be developed. The reported cap rate is 7%.
Key Highlights
- 12,655‑square‑foot mixed‑use property on 2.81 acres
- 340 feet of frontage on Route 14 (Northwest Highway)
- Separate handicap‑accessible office and medical building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,296
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,665,920
$3.7M
Cap Rate 7%
$2,618,514
$2.6M
Cap Rate 9%
$2,036,622
$2.0M
Market Conditions
NOI Build-Up for 12,655 SF
Gross rent
$334.1K $26.40/SF
− Vacancy
−$28.6K −$2.26/SF
EGI
$305.5K $24.14/SF
− OpEx
−$122.2K −$9.66/SF
NOI
$183.3K $14.48/SF
Area
Lake County, IL
Vacancy
8.56%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,665,920
Cap Rate 7%
$2,618,514
Cap Rate 9%
$2,036,622
Alternative Uses
Best Use
Healthcare Medical
$2.62M
$2.29M – $3.05M
NOI $183,296 @ 7.0% cap · market cap 7.97%
Second Best
Office B
$2.49M
$2.18M – $2.91M
NOI $174,492 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$4.37M
$3.82M – $5.10M
NOI $305,844 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
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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
$622,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Lake County, IL
Properties on Market for Mixed-use properties in Lake County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A separate accessible office and medical building complements the property's retail component.
Where is this mixed-use property located?
The property is located at 28662 W Northwest Highway Lake Barrington, IL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 12,655‑square‑foot mixed‑use property on 2.81 acres; 340 feet of frontage on Route 14 (Northwest Highway); Separate handicap‑accessible office and medical building
