This is more a comment on the mikeB answer, but comments don't allow code so I'll post it as an answer:
 You can use something like grep to find what you're looking for, such as 
 ip addr show dev eth0 | fgrep -q 'inet 192.168.1.1' if [ $? -eq 0 ]; then echo 'IP found' else echo 'IP not found' fi 
 This can actually be simplified getting rid of the test ( [ is an alias for test) on the exit status, because if already checks exit status directly, which is how test communicates with if already:
 if ifconfig | fgrep -q 'inet 192.168.1.1' then echo "IP Found" else echo "IP Not found" fi 
 And you can further simplify this by using the regex searches built into most bourne shells by using a case statement:
 case $(ifconfig) in *"inet 192.168.1.1"*) echo "IP found" ;; *) echo "IP not found" ;; esac