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    111 Palatine Rd Palatine, IL 60067

    Sponsored
    For Sale
    $525,000

    Two-unit building, prime location.

    Property size:
    2,546 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional two-unit apartment building, located at 111 E Palatine Rd in Palatine, IL 60067, presents a compelling investment opportunity. The property, built in 1918, sits on a 0.36-acre lot and boasts a total of 2,546 square feet across three stories. The building features two units: a two-bedroom, one-bathroom unit currently renting for $1,450 per month and a three-bedroom, one-bathroom unit renting for $1,875 per month. The unfinished basement includes a bathroom and storage, offering potential for future development and increased rental income. Recent upgrades include a brand-new roof, plumbing, and mechanical systems (HVAC and electrical), ensuring low maintenance costs for the owner. The parking lot has also been recently resurfaced. The property is zoned R-2 and benefits from its convenient location within walking distance of a Jewel grocery store, train station, and aquatic center, as well as being situated in a highly-regarded school district. This property is ideal for an investor seeking a strong cash flow and potential for future appreciation. The Cook County APN is 02-23-101-002-0000. The asking price is $525,000.

    Property Features for 111 Palatine Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,546 SF
    Lot Size
    15,682 SF

    Building Details

    Year Built
    1918
    Stories
    3
    Units
    2

    HighLights

    • Excellent Investment Opportunity for First‑Time Buyers.
    • 0.36‑Acre Site.
    • Redevelopment Potential.
    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 Daycare Center 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
    -88.0408857
    Latitude
    42.110079

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit building, prime location.
    Where is this multifamily property located?
    The property is located at 111 Palatine Rd Palatine, IL.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Excellent Investment Opportunity for First-Time Buyers.; 0.36-Acre Site.; Redevelopment Potential.
    Request Owner's contact information
    111 Palatine Rd Palatine, IL 60067
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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
    111 Palatine Rd Palatine, IL 60067
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