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    1863 Green Ln Palatine, IL 60074

    Sponsored
    For Sale
    $875,000

    High-Yield Six-Unit Building, Fully Leased

    Property size:
    5,004 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This exceptional investment opportunity presents a fully leased six-unit brick building located at 1863 Green Lane N, Palatine, Illinois. The property boasts a substantial 5,004 square feet of space, offering significant rental income potential. The building has recently undergone key improvements, including a brand new roof, ensuring long-term structural integrity and minimizing future maintenance costs. Interior updates include modern kitchen cabinets and attractive laminated flooring throughout the units, enhancing the appeal to tenants and maximizing rental rates. The building's strong financial performance is further supported by the fact that tenants are responsible for their own heating and electricity expenses, reducing the owner's operational burden. This six-unit property is a turnkey investment, ideal for a passive income strategy. Its prime location in Palatine, Illinois, offers easy access to local amenities, transportation, and a strong rental market. The building's excellent condition, coupled with its strong tenant occupancy and low maintenance requirements, makes this a truly compelling investment opportunity. The asking price of $875,000 reflects the property's exceptional value and potential for strong returns. Don't miss this chance to acquire a high-performing, low-maintenance income-generating asset in a desirable location. Serious inquiries only.

    Property Features for 1863 Green Ln

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,004 SF

    Building Details

    Year Built
    1985
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -88.01546
    Latitude
    42.14455

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    FAQs

    What type of property is this?
    Commercial real estate - High-Yield Six-Unit Building, Fully Leased
    Where is this commercial real estate located?
    The property is located at 1863 Green Ln Palatine, IL.
    What is the asking price?
    The asking price for this property is $875,000.
    (847) 699-8177
    Request Owner's contact information
    1863 Green Ln Palatine, IL 60074
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    Palatine, IL 60074
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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
    1863 Green Ln Palatine, IL 60074
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