Mixed-Use Building with
New
For Sale
$850,000
552 E Northwest Hwy, Palatine, IL 60074
Two remodeled residences sit above ground-floor business space with separate utilities and a rear delivery door.
Property Size7,000 SF
Price / SF$121.43
Days on Market4
Property Features for 552 E Northwest Hwy
General Information
Standard status
Active
Size
7,000 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR (apx. 1500 SF), 1 x 2BR (apx. 1200 SF)
Multifamily Units
2
Amenities
separate utilities
kitchen with sub-zero refrigerator
restrooms
dock door
Building Details
Year Built
1956
Buildings
1
Tenancy
Multi
Listing Agency:
Hometown Real Estate Group
Listed By:
Jolanta Kazimierski · License #475126576
(773) 870-2773
Source:
Grandviewrealtyservices
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 1:03PM
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 Hometown Real Estate Group
Investment Insights
Based on property information with market context.
This freestanding mixed-use property combines two apartments with 5,000 SF of first-floor retail and office space. The residences include a three-bedroom apartment of approximately 1,500 SF and a two-bedroom apartment of approximately 1,200 SF. Both have been remodeled and feature hardwood floors, updated kitchens and baths, in-unit laundry, and separate utilities. The ground floor is divided into two business spaces, with separate utilities, restrooms, a kitchen, and a rear dock door. A 2.5-car garage and five furnaces and five air-conditioning units serve the property.
The building has 127 feet of frontage on Northwest Hwy. Parking includes six spaces at the front and at least eight at the rear. IL Rte 53 is nearby. Both first-floor spaces are leased: one to a dental lab and the other to an accounting service.
The building has 127 feet of frontage on Northwest Hwy. Parking includes six spaces at the front and at least eight at the rear. IL Rte 53 is nearby. Both first-floor spaces are leased: one to a dental lab and the other to an accounting service.
Key Highlights
- Two apartments: three bedrooms at approximately 1,500 SF and two bedrooms at approximately 1,200 SF
- 5,000 SF of first‑floor retail and office space divided into two business spaces
- 127' of frontage on Northwest Hwy
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 60074, IL
37,705
Population
14,953
Households
2.5
Avg Household Size
38
Median Age
42%
College-Educated
85%
High-School Grad
7.1 sq mi
ZIP Area
5,311
Density / Sq Mi
$81,911
Median Household Income
$45,217
Median Earnings
$1,429
Median Rent
$307,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two remodeled residences sit above ground-floor business space with separate utilities and a rear delivery door.
Where is this mixed-use property located?
The property is located at 552 E Northwest Hwy Palatine, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two apartments: three bedrooms at approximately 1,500 SF and two bedrooms at approximately 1,200 SF; 5,000 SF of first‑floor retail and office space divided into two business spaces; 127' of frontage on Northwest Hwy
