Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1947 Green Ln Palatine, IL 60074

    Sponsored
    For Sale
    $889,000

    Six-unit building, positive cash flow, excellent location.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This exceptional investment opportunity presents a fully rented, six-unit commercial building situated on a prime corner lot in Palatine, Illinois. The property boasts five spacious two-bedroom units and one one-bedroom unit, all recently updated with brand new bathrooms. The building itself is a well-maintained masonry structure featuring a newer roof, ensuring long-term durability and minimizing maintenance costs. The attractive exterior and common areas are meticulously managed by the homeowner's association, which also handles lawn care and snow removal, providing peace of mind for the owner. Tenants are responsible for their own heat and electricity, further enhancing the property's profitability. Its convenient location offers easy access to major shopping centers and the vital Highway 53, making it highly desirable for renters. The surrounding area is also known for its excellent schools, contributing to a strong rental market and consistent occupancy. This turnkey investment property offers a significant opportunity for immediate positive cash flow and long-term appreciation. The building's strong tenant base and low maintenance requirements make it an ideal addition to any investment portfolio. The property is ready for immediate ownership and offers a rare chance to acquire a well-maintained, high-performing commercial building in a desirable location.

    Property Features for 1947 Green Ln

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1978
    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
    -88.01578
    Latitude
    42.14587

    Nearby Similar for Sale

    • $85,000
      0.05 Acres

      Cosmetology School & Salon Business

      Remodeled cosmetology school and salon business for sale.
      9999 Confidential Ave, Palatine, IL 60067
      View Details
    • Contact for pricing
      0.91 Acres

      Retail Space in Palatine, IL

      Retail space available at a busy Palatine intersection.
      169 W Northwest Hwy, Palatine, IL 60067
      View Details
    • $450,000
      0.14 Acres

      Remodeled Office Building with Manufacturing Zoning

      Remodeled office building for sale with manufacturing zoning.
      707 W Colfax St, Palatine, IL 60067
      View Details
    • $350,000
      0.23 Acres

      Palatine Office Building For Sale

      Commercial building in Plum Grove Office Park, Palatine, Illinois.
      502 N Plum Grove Rd, Palatine, IL 60067
      View Details
    • $399,800
      1,782 SF

      Spacious Townhome with Finished Basement

      Updated 2-bedroom townhome with finished basement and private outdoor space.
      1535 W Ethans Glen Dr, Palatine, IL 60067
      View Details
    • $2,500,000
      21,500 SF

      Iconic Palatine Commercial Redevelopment Opportunity

      21,500 SF building with redevelopment potential in downtown Palatine.
      180 N Smith St, Palatine, IL 60067
      View Details
    • $4,300,000
      3,010 SF

      Palatine Retail Building For Sale

      3,010 SF building on 0.79 acre site for sale.
      404 E Palatine Rd, Palatine, IL 60067
      View Details
    • $173,500

      Bayside Drive Condo with Potential

      Fixer-upper condo with communal amenities and convenient location.
      3400 Bayside Dr, Palatine, IL 60074
      View Details
    • Contact for pricing
      2,300 SF

      Turn-Key Dental Office Space

      Fully equipped dental office in prime location ready for immediate occupancy.
      741 E Dundee Rd, Palatine, IL 60074
      View Details
    • $220,000
      1,200 SF

      Willow Creek First Floor Unit

      First floor unit with community pool access and indoor parking.
      245 S Park Ln, Palatine, IL 60074
      View Details
    • Contact for pricing
      1,744 SF

      Turnkey Restaurant with Drive-Thru

      1,744 SF restaurant with drive-thru on half-acre lot.
      1158 E Dundee Rd, Palatine, IL 60074
      View Details
    • $450,000
      3,000 SF

      Free-Standing Building in Palatine

      3,000 SF building in high-traffic Palatine location.
      205 Hicks Pl, Palatine, IL 60067
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Six-unit building, positive cash flow, excellent location.
    Where is this commercial real estate located?
    The property is located at 1947 Green Ln Palatine, IL.
    What is the asking price?
    The asking price for this property is $889,000.
    (847) 699-8177
    Request Owner's contact information
    1947 Green Ln Palatine, IL 60074
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1947 Green Ln
    Palatine, IL 60074
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1947 Green Ln Palatine, IL 60074
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.