Price Reduction
Address
552 E Northwest Highway, Palatine, IL
Price
$ 839,900
Property Attributes
- MLS#12061408
- TypeCommercial
- CountyCOOK
- CityPalatine
- AreaPalatine
- Zip60074
- StyleOffice
- Year Built1956
- Taxes$ 17494
- Price$ 839,900
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage7000
- Lot Size0.172176 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Great income property, look at the cash flow! 2 apartments and 2 store/offices. Free Standing Mixed-use Building, a few minutes away from former Arlington Park Racecourse. Great Exposure on Northwest Hwy., Close Proximity to IL Rte 53, .Lots of parking- 6 in front and 8 or more in the back. 127' of Frontage along Northwest Hwy. Two completely remodeled apartments. 3 bedroom (apx. 1500 SF) and 2 bedroom (apx. 1200 SF) apartment, both with in-unit laundry, hardwood floors, new kitchens with quartz countertops, new baths, open, contemporary lay-out, and separate utilities..5000 SF of Retail space on first floor. 1stt floor has two separate offices, could be use for offices, warehouse, retail/stores, etc., separate utilities, kitchen with sub-zero refrigerator, restrooms, dock door in a back for deliveries, all newer and remodeled. 2.5 car garage. Building has 5 furnaces, 5 A/C units, 3 water meters, The building is in pristine condition. 3br apt 1 year lease at $2400 mo. 2 br apt owner occupied. One office space is leased to a dental lab for 5 years with apx 4 years left at $ 2500 mo. The other office space is occupied by owner. Office/ business spaces pay water electric and heat . Residential apartments pay electric and gas. Building owner pays water for apartments.
| Price History | |
|---|---|
| 5/20/2024 | Listed $850,000 |
| 6/4/2024 | 2% - $839,900 |
General Features
| Cooling | Central Air |
|---|---|
| Utilities | Electric to Site,Gas to Site,Sanitary Sewer,Water-Municipal |
| Possession | Closing |
| Roof | Tar and Gravel |
| Zoning | MULTI |
| Construction Materials | Brick |
| Year Built | 1956 |
| Electric | Circuit Breakers,Service - 101 to 200 Amps,Three Phase |
| Tenant Pays | Air Conditioning,Electricity,Heat,Sewer |
| Stories | 2 |
| Township | Palatine |
| Property SubType | Mixed Use |
| Tax Year | 2021 |
| Current Use | Office |
| Gross Income | 112800 |
| County | Cook |
| Insurance Expense | 1752 |
| Property Type | Commercial Sale |
| Possible Use | Office and Research |
| Status | Active |
| Directions | North on Northwest HWY property on the right |
| City | Palatine |
| NumberOfUnitsTotal | 4 |
| MLS Area | Palatine |
| Lot Size Square Feet | 7500 |
| Street Name | Northwest |
| Tax Annual Amount | 17494 |
| Trash Expense | 420 |
| Additional Parcels Y/N | No |
| Days on Market | 22 |
| Standard Status | Active |
| Property Type | Mixed Use |
Interior Features
| Flooring | Tile,Wood |
|---|
Exterior Features
| Foundation Details | Concrete Perimeter |
|---|---|
| Building Area Total | 7000 |
| Lot Dimensions | 50 X 150 |
| Street Suffix | Highway |
| Exterior | Brick |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60074
Price
Taxes
Visits
Year Built
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than NextHome Select Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2024 All rights reserved.Based on information submitted to the MLS GRID as of June 16, 2024 11:35 AM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of June 16, 2024 11:35 AM UTC
