707 Colfax St Palatine, IL 60067

This exceptional Palatine, IL property, located at 707 W Colfax Street, presents a unique investment opportunity. The 6,104 sq ft building, constructed in 1980 and recently remodeled, offers a blend of office and potential manufacturing space. Currently configured as four individual office units (two on each floor), with one second-floor unit under an 18-month lease, the property's zoning allows for adaptable usage. The ground floor boasts large open spaces ideal for workshop or warehouse use, each with a half-bath. Upstairs units feature two private rooms with exterior windows. The building's versatility extends to potential conversion into a four-unit multifamily dwelling (subject to Village permits and zoning approval), facilitated by separate utility meters (gas, electric) for each unit and a shared water bill. Recent renovations include fresh paint, new carpeting and laminate flooring, two new furnaces, an updated electrical system, repainted windows, and a repaired roof. Bathrooms have also been remodeled. Ample parking accommodates over ten vehicles, with additional space for potential storage structures. The property benefits from an 800-amp service and high visibility, with an estimated 5,000+ cars passing daily. Its convenient location is just one block from the post office and two blocks from the Metra station. The asking price is $525,000.