640 Northwest Hwy, Palatine, IL 60074
This exceptional 3,500 square foot commercial property, located at 640 E Northwest Hwy in Palatine, Illinois, presents a compelling investment opportunity. Situated on a sizable 15,000 square foot lot in a high-traffic area, this single-story building enjoys excellent visibility, with an estimated 25,000 cars passing daily. Currently configured as an auto shop, the property features two 10x10 garage doors, providing convenient access for vehicles and equipment. Inside, you'll find a triple basin sink, a bathroom, and ample parking for 14 vehicles. The building boasts a robust 200-amp electrical system with both 1 and 3-phase power options. Recent upgrades include a complete roof replacement (one year ago, costing $70,000) and stucco refresh (two years ago). The property is zoned B-2 and includes two units, each priced at $234,500. This versatile space is ideal for owner-occupancy or as a lucrative rental property, offering significant potential for return on investment. The property's location, features, and recent improvements make it a rare find in the Palatine commercial real estate market. The asking price is $469,000. Don't miss this chance to acquire a well-maintained, high-traffic commercial property in a desirable location.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.