Building Details

Units 2

Listing Agency: Coldwell Banker Commercial NRT Chicago

Listed By: Lisa Gagliano · License #475.126007 Show Phone

Source: Crexi

Added: Mar 12 Changed: Oct 5 Last Checked: Oct 16 at 6:31AM

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Investment Insights

Based on property information with market context.

This medical office property is arranged as two units with care-oriented layouts on the first floor and lower level. The upper suite includes five treatment rooms, a kitchenette, private office, reception and waiting areas, a restroom, and a nurses station. The lower unit provides a separate waiting area, three treatment offices, and a restroom.

The property carries B1-PUD zoning and offers a total of 2,100 in stated property size. Its two-level configuration and multiple treatment and office rooms provide a defined setup for medical office operations.

Key Highlights

• Two medical office units configured across the first floor and lower level
• First‑floor suite with 5 treatment rooms and a nurses station
• First‑floor kitchenette, office, waiting area, and restroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,956

Cap Rate

5.85%

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

Is this asking price fair?

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 (±1% cap)

NOI $28,956 @ 7.0% cap · market cap 5.85%

Second Best

Healthcare Medical

$397.4K

$347.8K – $463.7K (±1% cap)

NOI $27,821 @ 7.0% cap · market cap 5.62%

Theoretical Best

Office A

$725.0K

$634.4K – $845.9K (±1% cap)

NOI $50,752 @ 7.0% cap · market cap 10.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Vision Institute of Illinois Ophthalmologist Specialty Care Institute Medical Clinic Dina Golbin-Hallett DO Medical Clinic Aijaz Alvi MD Medical Clinic Oussama Boundaoui MD Ophthalmologist

Suggested Use

Top Pick Storage Facility (Bike/Boat/Book/etc) Store Law Firm Locksmith Barber Shop Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Office units

Location Intelligence

Trade Area within ½ mile

519

Businesses Nearby

Balanced

Demand for This Use

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - B1-PUD-zoned space includes treatment rooms, waiting areas, and support areas across two levels.

Where is this medical office space located?

The property is located at 602 Fox Glen Ct Barrington, IL.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Two medical office units configured across the first floor and lower level; First‑floor suite with 5 treatment rooms and a nurses station; First‑floor kitchenette, office, waiting area, and restroom