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Palatine, IL

Multifamily

Palatine, IL Multifamily Properties for Sale

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Barrington, IL Deer Park, IL Rolling Meadows, IL

Palatine Condo Deconversion Opportunity

Updated: Nov 21, 2025

Palatine Condo Deconversion Opportunity

140 W Wood St, Palatine, IL 60067

$20,000,000

112,000 sqft

Prime location in the heart of downtown Palatine, steps from the Metra train line, providing easy access to Chicago and local amenities.
Significant value‑add opportunities through strategic unit rehabilitation to achieve market rents (over $2.00 per foot).
Potential for reduced operating expenses by replacing the centralized boiler and chiller system with individual HVAC units.
Opportunity to develop a portion of the large, over‑parked lot while retaining necessary parking spaces.
Existing building amenities include a pool, gym, and storage lockers, with additional space available for upgrades.

This listing looks promising.

Here's a quick look at some key insights for

140 W Wood St, Palatine, IL 60067

View Property Analytics

Est. Cap Rate

6.5%
Above avg (5.9%)
Est. NOI

$1.3M
Annual
Price @ 7% Cap

$18.56M
Suggested
Property Type

Condominium
Built 1971

View Property Analytics

Multifamily Apartment Building with Balconies

Updated: Jun 17

Multifamily Apartment Building with Balconies

1875 N Green Lane N, Palatine, IL 60074

$999,000

0.06 AC lot

Brick multi‑unit property built in 1985
6 total units: three 2‑bedroom and three 1‑bedroom units
All units with balconies are reported as always rented
Reported yearly income of $73,000
HOA/association expense listed as $375 per month for landscaping, snow removal, scavenger, and parking lot maintenance

Garden-Style Multifamily Building with Balconies

Garden-Style Multifamily Building with Balconies

1875 N Green Lane N, Palatine, IL 60074

$999,000

Spacious 3- and 4-bedroom-style units with balconies, supported by on-site parking and shared exterior maintenance expenses.

Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 3 Active listings in Palatine, IL, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 69 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Prospect Heights Multifamily Investment Property

Prospect Heights Multifamily Investment Property

655 Piper Lane, Prospect Heights, IL 60070

$725,000

Six-unit multifamily property with long-term tenants and parking.

Updated Duplex in Desirable Location

Updated Duplex in Desirable Location

1426 Chippewa Trail, Wheeling, IL 60090

$380,000

1,984 sqft

Spacious, updated 4-bedroom duplex with modern amenities and convenient location.

Sandpebble Walk Condo with Balcony

Sandpebble Walk Condo with Balcony

1550 Sandpebble Drive #307, Wheeling, IL 60090

$215,000

1,280 sqft

Spacious 2-bedroom condo with balcony and community amenities.

Spacious Condo in Lake Run

Spacious Condo in Lake Run

16 E Old Willow Road #202S, Prospect Heights, IL 60070

$180,000

1,250 sqft

Oversized 2-bed, 2-bath unit with amenities in Prospect Heights.

Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Land For Sale, Lakemoor, IL

Land For Sale, Lakemoor, IL

27 Oyster Bay, Lakemoor, IL 60051

Contact for pricing

0.12 AC lot

Commercial land available in Lakemoor, Illinois.

University Park Developable Land

University Park Developable Land

976 Mesa Court, University Park, IL 60484

Contact for pricing

3.20 AC lot

3.2 acres with 24 concrete housing pads in University Park.

Wooded Homesite in Wheatfield, Indiana

Wooded Homesite in Wheatfield, Indiana

4418 Oakland Court, Wheatfield, IN 46392

Contact for pricing

0.57 AC lot

Spacious, wooded 0.57-acre lot in established neighborhood.

Recreational Land Bordering National Forest

Recreational Land Bordering National Forest

V/L E Kissing Oaks Trail, Custer, MI 49405

$39,900

0.96 AC lot

RV recreational lot bordering Manistee National Forest.

Off-Market Properties in Palatine, IL

Consider similar Off-Market properties in Palatine, IL. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

450 Palatine Rd

GARDEN APT, COURT APT (5+ UNITS)

450 Palatine Rd, Palatine, IL 60067-4980

$2,945,000

Estimated value

1.22 AC lot

APARTMENT HOUSE (UNDER 5 UNITS)

153 Sherman St, Palatine, IL 60067-3559

$665,000

Estimated value

2,549 sqft · 0.31 AC lot

APARTMENT HOUSE (UNDER 5 UNITS)

821 Lilly Ln, Palatine, IL 60074-0903

$600,000

Estimated value

4,638 sqft · 0.13 AC lot

409 Cambridge Dr, Unit 15

APARTMENT HOUSE (UNDER 5 UNITS)

409 Cambridge Dr, Palatine, IL 60067-2359

Unit 15

$600,000

Estimated value

4,533 sqft · 0.11 AC lot

409 15th N Lk Shr

APARTMENT HOUSE (UNDER 5 UNITS)

409 15th N Lk Shr, Palatine, IL 60067

$575,000

Estimated value

4,230 sqft · 0.11 AC lot

425 Cambridge Dr

APARTMENT HOUSE (UNDER 5 UNITS)

425 Cambridge Dr, Palatine, IL 60067-2365

Value Estimation by Request

4,480 sqft · 0.11 AC lot

APARTMENT HOUSE (UNDER 5 UNITS)

105 Snw Hwy, Palatine, IL 60074-6232

Value Estimation by Request

2,932 sqft · 0.17 AC lot

2239 Rand Rd, Unit 51

APARTMENT HOUSE (UNDER 5 UNITS)

2239 Rand Rd, Palatine, IL 60074-2350

Unit 51

$1,630,000

Estimated value

4,956 sqft · 0.49 AC lot

APARTMENT HOUSE (UNDER 5 UNITS)

830 Capri Dr, Palatine, IL 60074-0908

$655,000

Estimated value

4,687 sqft · 0.13 AC lot

APARTMENT HOUSE (UNDER 5 UNITS)

43 Hale St, Palatine, IL 60067-5240

Value Estimation by Request

2,295 sqft · 0.20 AC lot

237 Plum Grv Rd

APARTMENT HOUSE (UNDER 5 UNITS)

237 Plum Grv Rd, Palatine, IL 60067-5270

$505,000

Estimated value

2,638 sqft · 0.24 AC lot

103 Plum Grv Rd

APARTMENT HOUSE (UNDER 5 UNITS)

103 Plum Grv Rd, Palatine, IL 60067-6244

Value Estimation by Request

1,868 sqft · 0.24 AC lot

780 Dundee Rd, Unit 1

APARTMENT HOUSE (UNDER 5 UNITS)

780 Dundee Rd, Palatine, IL 60074-0714

Unit 1

Value Estimation by Request

1,826 sqft · 1.44 AC lot

305 Palatine Rd

APARTMENT HOUSE (UNDER 5 UNITS)

305 Palatine Rd, Palatine, IL 60067-4923

Value Estimation by Request

2,288 sqft · 0.11 AC lot

440 Cambridge Dr

APARTMENT HOUSE (UNDER 5 UNITS)

440 Cambridge Dr, Palatine, IL 60067-2364

$745,000

Estimated value

4,328 sqft · 0.11 AC lot

240 Palatine Rd, Unit 2

APARTMENT HOUSE (UNDER 5 UNITS)

240 Palatine Rd, Palatine, IL 60067-5123

Unit 2

$605,000

Estimated value

2,992 sqft · 0.20 AC lot

GARDEN APT, COURT APT (5+ UNITS)

125 Dundee Rd, Palatine, IL 60074-2644

$36,125,000

Estimated value

9.31 AC lot

488 94th N Lk Shr

APARTMENT HOUSE (UNDER 5 UNITS)

488 94th N Lk Shr, Palatine, IL 60067

$2,390,000

Estimated value

4,533 sqft · 0.11 AC lot

496 2nd N Lk Shr

APARTMENT HOUSE (UNDER 5 UNITS)

496 2nd N Lk Shr, Palatine, IL 60067

$2,400,000

Estimated value

4,533 sqft · 0.11 AC lot

424 30th N Lk Shr

APARTMENT HOUSE (UNDER 5 UNITS)

424 30th N Lk Shr, Palatine, IL 60067

$2,390,000

Estimated value

4,533 sqft · 0.11 AC lot

APARTMENT HOUSE (UNDER 5 UNITS)

49 Slade St, Palatine, IL 60067-0415

$575,000

Estimated value

4,480 sqft · 0.09 AC lot

Palatine, IL Multifamily Properties Market Trends and Statistics

Explore 72 multifamily properties for sale in Palatine, IL, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 112,000 square feet of properties for sale, with an estimated market value of $20,000,000.

Sale prices for multifamily properties in Palatine, IL start at $20,000,000, averaging $20,000,000, and reaching up to $20,000,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 74K

Population Growth (5Y) -4.1%

Median Household Income $102,227

College Educated 19.9%

High-Yield Neighborhoods for Investment

Identify Palatine submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
60074	$999K
60067	$20M

Taxes & Financing

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Cook County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Palatine fall within the 100,000+ square foot range.

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