410 Palatine RdPalatine, IL 60074

Property Details for 410 Palatine Rd

Year built

1954

Construction

FRAME

Lot size

0.17 AC

Property size (Sq ft)

2,000 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

02-14-408-011

APU

214408011

Description

This exceptional Palatine property presents a unique mixed-use investment opportunity. Located at the highly visible northeast corner of Palatine Road and Northwest Highway, this free-standing building offers approximately 2,040 square feet of versatile space. The property features a 1,000 square foot storefront, ideal for retail, office, or showroom use, combined with a remodeled 950 square foot, two-bedroom ranch-style residential unit in the rear. The residential unit boasts a private entrance, a cherrywood kitchen with granite countertops and stainless steel appliances, hardwood floors, and a full finished attic with pull-down stairs, providing additional storage. The property benefits from significant recent upgrades, including a new roof (2023), newer windows, updated zoned systems, and a new asphalt parking lot (2022), accommodating 12 vehicles. Energy-efficient ComEd interior and exterior lighting further enhances operational efficiency. The residential component contributes to exceptionally low property taxes. The entire building is zoned B-1, allowing for potential expansion of business operations into the residential space, subject to village code requirements and restrictions. 24-hour notice is required for showings to avoid disturbing occupants.

• CAP approach

  CAP return

  Valuation

  6%

  $453,372

  6.5%

  $418,497

  7%

  $388,604

• Comparable approach

  Method

  Valuation

  Relative Method

  $318,762

  Geo Method

  $403,775

• Alternative Use

  Use

  Valuation

  Residential

  $418,497

  Hospitality

  $383,341

  Educational

  $318,935

  Medical

  $329,904

  Retail

  $496,121

Location Insight

City

Palatine

County

Cook

State

Illinois

Latitude

42.1106

Longitude

-88.0331

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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