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    444 Rand Rd North Barrington, IL 60010

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    For Lease
    Contact for pricing

    10,694 SF Medical Office Building, Suites Available

    Lot size:
    10,694 SF

    Property Features for 444 Rand Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,694 SF
    Class
    B
    Total Rate
    15149.83

    Building Details

    Year Built
    2005

    Spaces For Lease

    at 444 Rand Rd, North Barrington, IL 60010 Contact us
    Unit Suite 2-101

    $17 /Mo

    Size
    2,061 SF
    Contact us
    Unit Suite 2-102

    $17 /Mo

    Size
    686 SF
    Contact us
    Unit Suite 2-101/102

    $17 /Mo

    Size
    2,747 SF
    Contact us

    We can help!

    Listing Contact
    Jason Shibata
    Jason Shibata

    Listing Agency: JBS Commercial Real Estate Listing Agent: Jason Shibata

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional Class B medical office building, constructed in 2005, offers multiple suites for lease at 444 N Rand Road in North Barrington, Illinois. The property totals 10,694 square feet and currently has 5,494 square feet of vacant space available, divisible into units ranging from a minimum of 686 square feet to a maximum contiguous space of 2,747 square feet. The building features ample parking with a ratio of 4 spaces per 1,000 square feet. Located in Lake County, Illinois, zip code 60010, this property presents a fantastic opportunity for medical professionals seeking a well-maintained space. One suite is currently configured as a dental office, complete with existing gas, air, and water lines, allowing for a quick and efficient move-in. This turnkey solution minimizes setup time and maximizes operational efficiency. The building's convenient location and readily available space make it an ideal choice for a variety of medical practices. The address is 444 N Rand Road, North Barrington, IL 60010. Serious inquiries are encouraged to explore this exceptional opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Law Firm Dental Office Kitchen & Bath Showroom Department Store Storage Facility Accounting Firm Discount Store Car Rental Facility Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Barrington
    County
    Lake
    State
    Illinois
    Longitude
    -88.1125284
    Latitude
    42.2333365

    Nearby Similar for Lease

    • $18 SF/Yr
      12,615 SF

      Wynstone Office Building: Prime Space

      North Barrington Office Building - 12,615 sq ft
      108 Wynstone Park Dr, North Barrington, IL 60010
      View Details

    FAQs

    What type of property is this?
    Medical office - 10,694 SF Medical Office Building, Suites Available
    Where is this medical office located?
    The property is located at 444 Rand Rd North Barrington, IL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Class B medical office building, 10,694 SF, 5,494 SF available for lease, divisible into 686-2,747 SF units.; 444 N Rand Road, North Barrington, IL 60010 (Lake County, zip code 60010).; 4:1,000 parking ratio.
    (312) 462-1022 Call to check price and availability
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    444 Rand Rd North Barrington, IL 60010
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    North Barrington, IL 60010
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    444 Rand Rd North Barrington, IL 60010
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Shibata
    Jason Shibata
    Real Estate License ID: 471011705
    (312) 462-1022 (312) 462-1020
    Learn more
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