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    707 W Colfax St Palatine, IL 60067

    Sponsored
    For Sale
    $450,000

    COMMERCIAL - Palatine, IL

    Lot size:
    0.14 Acres
    Days on Market:
    19
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 707 W Colfax St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    OFFIC
    APN
    02151100040000
    Lot size
    0.14 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick

    Coldwell Banker Leader Realty (312) 513-4490 [email protected]

    Listing agent Diana Varva (773) 344-5545

    Listing date Dec 18, 2025

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Remodeled Office Building with Manufacturing Zoning

    This commercial building, constructed in 1980 and recently remodeled, offers two floors of office spaces with the flexibility for varied uses due to its manufacturing zoning. Currently configured as four individual office spaces, with two units on each floor, the layout provides distinct operational areas. The ground floor units feature a large, open space with a half bathroom, suitable for workshop or warehouse applications. The upstairs units are divided into two private rooms, each with exterior windows. Each of the four units has its own bathroom and separate gas and electric meter. The building has a single water bill. Recent upgrades include two furnaces installed in 2024, a newer 800-amp electrical system, freshly painted windows, roof repairs, and remodeled bathrooms. The property includes a large parking area with over 10 spaces and additional room for potential storage or buildable areas. Benefiting from high street exposure with an estimated 5,000 cars passing daily, the location is one block from the post office and two blocks from the Metra Station in Palatine, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mariah Express Trucking Company Teamworks Consultant Town & Country Claim ... Insurance Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.0603745
    Latitude
    42.1185195

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    FAQs

    What type of property is this?
    Manufacturing property - Remodeled office building for sale with manufacturing zoning.
    Where is this manufacturing property located?
    The property is located at 707 W Colfax St Palatine, IL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Zoned Manufacturing with potential for varied usage.; - Freshly remodeled, including **two new furnaces (2024)**, **newer 800 amp electric system**, roof repair, and remodeled bathrooms.; - Four individual units, each with a private bathroom and separate gas/electric meter.
    (773) 344-5545
    Request Owner's contact information
    707 W Colfax St Palatine, IL 60067
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    Palatine, IL 60067
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    707 W Colfax St Palatine, IL 60067
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