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180 Smith St Palatine, IL 60067

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For Sale
Contact for pricing

1 Acre, Mixed-Use Potential, $3.25M

Property size:
21,500 SF

Property Features for 180 Smith St

General Information

Property type
Restaurants
Square Feet
21,500 SF
Lot Size
43,560 SF

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Listing Contact
Myra Nimchaiyong
Myra Nimchaiyong

Listing Agency: Century 21 S.G.R., Inc. Listing Agent: Myra Nimchaiyong

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

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Property Insight Report

Overview

This exceptional 1-acre property in downtown Palatine, Illinois, presents a unique redevelopment opportunity. Currently housing a 21,500 square foot building encompassing a bar/restaurant with a full kitchen, a 7,000 square foot entertainment venue with a mezzanine and rooftop deck, and a 2,500 square foot bank with a drive-thru, the site boasts significant existing infrastructure. Previously approved plans allow for a new six-story mixed-use building, featuring approximately 52 residential units (a mix of two-bedroom/two-bath and two-bedroom-plus-den/two-bath units) on floors two through six. The ground floor will offer approximately 9,900 square feet of commercial space, divisible to suit various tenants. The development also includes a rooftop residential amenity deck with an enclosed area, terraces, and elevator access. The existing building includes approximately 1,250 square feet of covered patio space and 42 surface parking spaces. Located across from the Palatine train station, this property is situated within a transit-oriented development area, meeting all parking requirements. The asking price is $3,250,000, with a price per square foot of $151.16. This prime location in a thriving commercial area offers significant potential for investors and developers seeking a high-return mixed-use project in a vibrant community. The permitted zoning is P.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Durty Nellie's Gastropub ... Bar & Pub

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Palatine
County
Cook
State
Illinois
Longitude
-88.0492601
Latitude
42.1136883

FAQs

What type of property is this?
Restaurant - 1 Acre, Mixed-Use Potential, $3.25M
Where is this restaurant located?
The property is located at 180 Smith St Palatine, IL.
What is the asking price?
The asking price for this property is $3,250,000.
(773) 575-2779 Call to check price and availability
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