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    712-724 S Plum Grove Rd Palatine, IL 60067

    New
    For Sale
    $1,400,000

    Land - Palatine, IL

    Lot size:
    1.20 Acres
    Days on Market:
    3
    Last Refresh:
    Dec 6 at 8:06 am

    Property Features for 712-724 S Plum Grove Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    02224100160000
    Lot size
    1.20 Acres

    Utilities

    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Central Air

    Building Details

    Architectural style
    Other

    Compass Real Estate

    Listing agent Michael Mandile (773) 482-1917 License #475174712

    Listing date Dec 4, 2025

    MLS# 12525490 Listing URL

    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

    Prime Palatine Land Opportunity

    This offering presents a rare opportunity to acquire approximately 51,800 sq ft (1.19 acres) of land, comprising three combined parcels on a prominent, high-visibility corner in Palatine. The site's scale makes it suitable for new construction, with potential for single-family homes or townhomes, subject to Village approval. The location benefits from established neighborhoods, new construction, and strong area demand. It offers convenient access to Fremd High School, Plum Grove Middle School, Highway 53/90, the Metra, O'Hare Airport, Woodfield Mall, Downtown Palatine, and the future Chicago Bears development. The three lots include the corner parcel at 712 S Plum Grove Rd, the extra-wide vacant lot at 712 S Plum Grove Rd (Rear) with Michigan Ave frontage, and the expansive parcel at 724 S Plum Grove Rd. Existing structures are present on two parcels; however, the value lies in the land and its redevelopment potential. This is an opportunity to control an entire corner block in a thriving suburban market and develop a residential project.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.0442768
    Latitude
    42.0973885

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    FAQs

    What type of property is this?
    Land - Large corner parcel suitable for residential development in Palatine, IL.
    Where is this land located?
    The property is located at 712-724 S Plum Grove Rd Palatine, IL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Large land parcel: Approximately 1.19 acres in a prime Palatine location.; - High-visibility corner lot with redevelopment potential for single-family homes or townhomes (pending Village approval).; - Excellent location: Close to Fremd High School, Plum Grove Middle School, Highway 53/90, the Metra, O'Hare Airport, Woodfield Mall, Downtown Palatine, and the future Chicago Bears development.
    (773) 482-1917
    Request Owner's contact information
    712-724 S Plum Grove Rd 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
    712-724 S Plum Grove Rd Palatine, IL 60067
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