Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    293 N Northwest Hwy Palatine, IL 60067

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,500 /Mo

    Retail space for lease in a high-traffic shopping center.

    Property Features for 293 N Northwest Hwy

    General Information

    Standard status
    Active

    Building Details

    Year built
    1980

    We can help!

    Listing Contact
    Joe Zivoli
    Joe Zivoli
    Source: Exitrealty

    Listing Agency: USA Real Estate LTD Listing Agent: Joe Zivoli

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space on Northwest Highway

    This 1,500 square foot retail space, formerly a State Farm office, is available for lease. It is located on Northwest Highway in a high-traffic area, adjacent to Wendy's and Taco Bell. The shopping center features several anchor tenants. The space includes an illuminated sign and ample parking. It features 14-foot ceilings. The total monthly rent is $2,500, which includes base rent, CAM, and real estate taxes. This property is located on Northwest Highway in Palatine, IL.
    Location Intelligence

    Current Use by Public Records

    Kimberly Stokes State ... Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center 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
    -88.033347
    Latitude
    42.116494

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space in Palatine, IL

      2,500 sq ft retail space available for immediate occupancy.
      1296 E Dundee Rd, Palatine, IL 60074
      View Details
    • Contact for pricing

      Retail Space in Palatine Center

      1500 SF retail space in high-traffic Palatine location.
      293 N Northwest Hwy, Palatine, IL 60067
      View Details
    • $21 SF/Yr

      Retail Space in Palatine Center

      Retail space for lease in a well-located Palatine shopping center.
      753 W Palatine Rd, Palatine, IL 60067
      View Details
    • Contact for pricing

      Retail Space in Palatine, IL

      Retail leasing opportunity in a high-traffic Palatine location.
      201-285 W Dundee Rd, Palatine, IL 60074
      View Details
    • Contact for pricing

      Palatine Retail Space For Lease

      Retail spaces available in Palatine, high visibility and accessibility.
      201-285 W Dundee Rd, Palatine, IL 60074
      View Details
    • $27 SF/Yr
      1,040 SF

      Prime Retail Space in Palatine

      Retail space in downtown Palatine with high visibility.
      44-60 W Palatine Rd, Palatine, IL 60067
      View Details
    • Contact for pricing
      1,289 SF

      Downtown Palatine Office Space

      Office space near Palatine Metra Station with covered parking.
      220 N Smith St, Palatine, IL 60067
      View Details
    • Contact for pricing
      7,841 SF

      Retail Space in Deer Grove Centre

      Grocery-anchored neighborhood shopping center in Palatine, Illinois.
      605-771 E Dundee Rd, Palatine, IL 60074
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Dundee Road

      2,000 Sq Ft retail space available for lease.
      766-784 E Dundee Rd, Palatine, IL 60074
      View Details
    • $11 SF/Yr
      60,000 SF

      Functional Warehouse Space Available

      Warehouse space with 18.5' clear height and immediate occupancy.
      501-515 Vermont St, Palatine, IL 60067
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space with Excellent Visibility

      Retail space with high traffic and ample parking available for rent.
      1130 E Dundee Rd, Palatine, IL 60074
      View Details
    • $1,000 /Mo
      2,530 SF

      Retail/Office Space in Palatine

      Retail/office spaces available in a shopping center with ample parking.
      315 W Northwest Hwy, Palatine, IL 60067
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for lease in a high-traffic shopping center.
    Where is this retail space located?
    The property is located at 293 N Northwest Hwy Palatine, IL.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: - High-traffic location on Northwest Highway, ensuring excellent visibility.; - Total monthly rent of $2,500 includes base rent, CAM, and real estate taxes.; - Located in a shopping center with several anchor tenants.
    (847) 640-6800
    Request Owner's contact information
    293 N Northwest Hwy Palatine, IL 60067
    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.
    293 N Northwest Hwy
    Palatine, IL 60067
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    293 N Northwest Hwy Palatine, IL 60067
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joe Zivoli
    Joe Zivoli
    Real Estate License ID: 471001855
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!