Mixed-Use Building in Downtown
For Sale
$775,000
320 E Main St, Barrington, IL 60010
Updated commercial space with residential apartments in downtown Barrington.
Property Size5,200 SF
Price / SF$149.04
Days on Market185
Property Features for 320 E Main St
General Information
Standard status
Active
Size
5,200 SF
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
Lisa Perry · License #475126007
(773) 818-1888
Source:
Tumpanelegacy
Added: Mar 10
Changed: Sep 8
Last Checked: Sep 9 at 10:44PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Located on Main Street (Lake Cook Road) in Downtown Barrington, this mixed-use building presents an investment or owner-user opportunity. The main floor provides approximately 2,000 square feet of updated commercial space, previously used as a Medi-spa. The space includes a reception area, waiting room, six private offices, two restrooms, a kitchenette, and access to a rear porch. The second floor features two residential apartments. One is a two-bedroom, one-bathroom unit with an eat-in kitchen, living room, and a private porch. The other is a one-bedroom, one-bathroom unit with an eat-in kitchen, living room, and a private porch, currently occupied by a long-term tenant. The finished basement offers additional office space, multiple storage rooms, and a laundry area. The property has eight on-site parking spaces and is zoned B-2, allowing for a range of commercial uses.
Key Highlights
- Prime downtown Barrington location on Main Street (Lake Cook Road)
- Mixed‑use building with updated commercial space and two residential apartments
- Approximately 2,000 sq ft of updated commercial space suitable for various professional or wellness uses
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
$60,324
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
7.78%
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%
$1,206,480
$1.2M
Cap Rate 7%
$861,771
$861.8K
Cap Rate 9%
$670,267
$670.3K
Market Conditions
NOI Build-Up for 5,200 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
$117.9K $22.68/SF
− Vacancy
−$8.3K −$1.59/SF
EGI
$109.7K $21.09/SF
− OpEx
−$49.4K −$9.49/SF
NOI
$60.3K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
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%
$1,206,480
Cap Rate 7%
$861,771
Cap Rate 9%
$670,267
Alternative Uses
Best Use
Mixed Use
$1.25M
$1.10M – $1.46M
NOI $87,750 @ 7.0% cap · market cap 11.32%
Second Best
Office B
$1.02M
$896.2K – $1.19M
NOI $71,699 @ 7.0% cap · market cap 9.25%
Theoretical Best
Office A
$1.80M
$1.57M – $2.09M
NOI $125,673 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,020
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated commercial space with residential apartments in downtown Barrington.
Where is this mixed-use property located?
The property is located at 320 E Main St Barrington, IL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Prime downtown Barrington location on Main Street (Lake Cook Road); Mixed‑use building with updated commercial space and two residential apartments; Approximately 2,000 sq ft of updated commercial space suitable for various professional or wellness uses
