Skip to main content

Multifamily

407 E Main St

407 E Main St, Barrington, IL 60010

Listing Price: $675,000

Cap Rate
38.27%
Number of Units
15
GRM
2.01
Occupancy
95.0%
Price/Unit
$45,000
Price/Gross SF
$50.77
Gross SF
13,296

Investment Overview

Marcus & Millichap is pleased to present an approximately 9,702-square foot vacant parcel (0.22 acres) located at 407 East Main Street in Barrington, Illinois. The subject property is well-located and sits approximately 500 feet northeast of the Barrington Metra station (Union Pacific North West line) nestled within desirable downtown Barrington. Additionally, the parcel sits less than one mile from several schools, including Hough Street Elementary School and Barrington School District 220.

There is currently a single-family residential building located on the site. The parcel is within the B-5 zoning district with an approved Dwelling, Multiple Family use. The current owner has an approved special use ordinance from the village to build a three-story, 15-unit residential apartment building with an underground parking facility, with specifically nine one-bedroom units and six two-bedroom units ranging in size from approximately 734 square feet to 1,181 square feet, plus a total of 19 parking spaces, a large outdoor common area and bicycle parking.

Barrington is an affluent suburb located approximately 38 miles northwest from Chicago's Loop and is considered one of the wealthiest zip codes in the country. The area is a country-suburban setting featuring wetlands, forest preserves, parks and horse trails. The subject property is located within Barrington's desirable downtown, featuring upscale shopping, dining and entertainment. Barrington has the largest historic residential district in Illinois and is noted for its quality stock of Victorian, Victorian Gothic and Queen Anne architecture.

Investment Highlights

  • Highly Desirable Barrington Location
  • Vacant Land Parcel - Approved Zoning for 15 Units with Underground Parking
  • Approximately 9,702 Square Feet
  • Close Proximity to Transportation, Schools and Downtown Barrington

Exclusively Listed By

  • Eric P. Bell

    Executive Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

Listing Price: $675,000

Cap Rate
38.27%
Number of Units
15
GRM
2.01
Occupancy
95.0%
Price/Unit
$45,000
Price/Gross SF
$50.77
Gross SF
13,296

Investment Highlights

  • Highly Desirable Barrington Location
  • Vacant Land Parcel - Approved Zoning for 15 Units with Underground Parking
  • Approximately 9,702 Square Feet
  • Close Proximity to Transportation, Schools and Downtown Barrington

Investment Overview

Marcus & Millichap is pleased to present an approximately 9,702-square foot vacant parcel (0.22 acres) located at 407 East Main Street in Barrington, Illinois. The subject property is well-located and sits approximately 500 feet northeast of the Barrington Metra station (Union Pacific North West line) nestled within desirable downtown Barrington. Additionally, the parcel sits less than one mile from several schools, including Hough Street Elementary School and Barrington School District 220.

There is currently a single-family residential building located on the site. The parcel is within the B-5 zoning district with an approved Dwelling, Multiple Family use. The current owner has an approved special use ordinance from the village to build a three-story, 15-unit residential apartment building with an underground parking facility, with specifically nine one-bedroom units and six two-bedroom units ranging in size from approximately 734 square feet to 1,181 square feet, plus a total of 19 parking spaces, a large outdoor common area and bicycle parking.

Barrington is an affluent suburb located approximately 38 miles northwest from Chicago's Loop and is considered one of the wealthiest zip codes in the country. The area is a country-suburban setting featuring wetlands, forest preserves, parks and horse trails. The subject property is located within Barrington's desirable downtown, featuring upscale shopping, dining and entertainment. Barrington has the largest historic residential district in Illinois and is noted for its quality stock of Victorian, Victorian Gothic and Queen Anne architecture.

Exclusively Listed By

  • Eric P. Bell

    Executive Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

MM Texture Background
MM Textured Background Lower