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Free-Standing Office Building For Sale
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501 W Colfax St, Palatine, IL

Single-story office building near downtown Palatine, divisible for multiple tenants.

Space Size6,549 SF
Lot Size0.36 Acres
Days on Market378

Property Features for 501 W Colfax St

General Information

Standard status Active
Size 6,549 SF
Lot size 0.36 Acres
Property subtype INDUSTRIAL

Spaces For Lease

at 501 W Colfax St Contact us

501 W Colfax St

Floor
Bldg
Size
6,549 SF
Type
INDUSTRIAL
Rate
Contact for pricing
Availability
AVAILABLE, Now
Sublease
No
- Owner financing available - Free-standing single-story office building - Walking...
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Listing Agency: Lee & Associates | Chicago
Listed By: Todd Hendricks
Source: Moodyscre
Added: Aug 13, 2025 Changed: Aug 8 Last Checked: Aug 24 at 12:00PM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | Chicago

Investment Insights

Based on property information with market context.

This free-standing, single-story office building is located within walking distance of downtown Palatine, the Metra station, and various restaurants. The building offers flexibility for multiple tenants, as it is divisible into two or three tenant spaces. The interior layout includes 16 private offices, a kitchen, a conference room, a reception area, and built-in cubes. The property has a total size of 6549 square feet. Owner financing is available.

Key Highlights

  • Walking distance to Downtown Palatine, Metra & Restaurants
  • Free‑standing single‑story office building
  • Includes 16 private offices, kitchen, conference room, reception and built‑in cubes

Property Analytics

Current Use

MP Consulting, LLC Research And Product Development

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Restaurant Auto Parts Store Hotel & Motel Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

1,273
Businesses Nearby

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
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Frequently Asked Questions

What type of property is this?
Office building - Single-story office building near downtown Palatine, divisible for multiple tenants.
Where is this office building located?
The property is located at 501 W Colfax St Palatine, IL.
What are key features of this property?
This property features: Walking distance to Downtown Palatine, Metra & Restaurants; Free‑standing single‑story office building; Includes **16 private offices, kitchen, conference room, reception and built‑in cubes**
(847) 912-2739 Call to check price and availability
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