Two-Unit Medical
For Sale
Contact for pricing
602 Fox Glen Ct, Barrington, IL 60010
B1-PUD-zoned space includes treatment rooms, waiting areas, and support areas across two levels.
Property Size2,100 SF
Price / SF$235.71
Days on Market174
Property Features for 602 Fox Glen Ct
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Office
Zoning
B1-PUD
Additional Details
Floor
First Floor and Lower
Office Units
2
Building Details
Units
2
Listing Agency:
Coldwell Banker Commercial NRT Chicago
(847) 301-3100
Listed By:
Lisa Gagliano · License #475.126007
Source:
Crexi
Added: Mar 12
Changed: Aug 31
Last Checked: Aug 31 at 4:22PM
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 Commercial NRT Chicago
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.
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 = 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
$28,956
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
5.85%
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%
$579,120
$579.1K
Cap Rate 7%
$413,657
$413.7K
Cap Rate 9%
$321,733
$321.7K
Market Conditions
NOI Build-Up for 2,100 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
$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 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%
$579,120
Cap Rate 7%
$413,657
Cap Rate 9%
$321,733
Alternative Uses
Best Use
Office B
$413.7K
$362.0K – $482.6K
NOI $28,956 @ 7.0% cap · market cap 5.85%
Second Best
Healthcare Medical
$397.4K
$347.8K – $463.7K
NOI $27,821 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$725.0K
$634.4K – $845.9K
NOI $50,752 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
