A new development with dozens of high-priced luxury custom homes seeks to replace an unused commercial building in a northern Chicago suburb.
The village of Barrington, Illinois, is set to review a proposal by local homebuilder Vintage Luxury Homes that includes demolishing a former PepsiCo property and turning it into a gated community called Claremont, where homes and lots begin at $1.5 million.
It will be the fourth development in the area by the builder, who also developed Enclave, Sundance and Hidden Lakes in the nearby South Barrington suburb.
Joe Elias, owner of Vintage Luxury Homes and a lifelong Barrington resident, said homes in Claremont will range from 2,500 to 5,000 square feet. Given their custom nature, final sizes, designs and costs are entirely dependent on each buyer. Current plans on the Claremont website show 88 available lots ranging from 10,083 square feet to 16,618 square feet.
Though pricey, these proposed home prices are not too far off from the Barrington market.
The median single-family home sale price is $710,750, according to Homes.com data. It’s also home to the second-most-expensive for-sale home in Illinois, 7 Fox Hunt Road, listed for $22 million. There have already been 23 home sales for above $1.5 million in Barrington since July 2024, Homes.com data shows.
Elias confirmed that the builder purchased the 95-acre parcel, including the 259,000-square-foot building at 617 W Main St., earlier this year. It’s the latest commercial-to-residential project in the Chicagoland suburbs in 2025.
Redeveloping unused commercial space
Leading national builder PulteGroup has purchased two Illinois office buildings this year that it plans to demolish and redevelop into residential housing, one in Hoffman Estates and another, previously a Walgreens office, in Deerfield.
Pulte also partnered with a local developer to build housing around a refurbished commercial complex formerly owned by AT&T, also in Hoffman Estates. Meanwhile, M/I Homes received the green light in July from Naperville to demolish a healthcare office to make way for townhouses. The trend reflects the increase in remote work and softened demand for large commercial office spaces.
Elias purchased the building and land because of its size and proximity to shopping and public transportation.
“Land in the Barrington area, especially in the village, is very scarce; it’s pretty much nonexistent,” said Elias.
Amenities and project timeline
Half of the parcel will be used for homes and amenities — such as tennis courts, a fitness center, a yoga studio, clubhouses, pools, pickleball courts, basketball courts, and bocce courts — while the other half will remain open green space with a walking path.
The Vintage Luxury Homes team proposed the development Tuesday, but the Barrington Plan Commission held off on recommending the Village Board review the proposal until the developer receives final engineering reports. A public hearing is set for Aug. 12.
Upon receiving approval, Elias expects to break ground and demolish the office building this fall, with home construction beginning in spring 2026. Homes will take a minimum of 12 months to build, and first move-ins are expected in 2027.
This story was updated July 11 to correct the name of Vintage Luxury Homes.