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    2161 Rand Rd Palatine, IL 60074

    • Commercial real estate
    • 1,000 SF
    • 0.32 lot acres
    For Sale
    View listing
    $650,000
    Value Estimation
    Last Sale
    Oct 14, 2021
    $400,000
    Location Intelligence
    Property ID
    US28-2573107
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sawan Auto Sales Inc / Used Car Dealer
    • Ivan'sAutoDetailing / Car Detailing Service

    Property Details for 2161 Rand Rd

    Year built
    1948
    Lot size
    0.32 lot acres
    Property size
    1,000 SF
    Property type
    Commercial real estate
    APN
    02-02-102-028
    APU
    202102028

    Description

    This exceptional 33,750 square foot commercial land parcel presents a remarkable development opportunity in Palatine, Illinois. Located at 2161 N Rand Rd, this property boasts an enviable position with over 150 feet of frontage on Rand Road, just south of Lake Cook Road. The high-density location ensures exceptional visibility and accessibility, with daily traffic counts exceeding 30,000 vehicles. Currently utilized as an automobile dealership, the site includes a 1,500 square foot office building and a separate heated garage, all of which will be vacated upon sale. The property is zoned B5, offering a wide range of potential development options. All utilities are readily available on-site, simplifying the development process. The APN is 02-02-102-028. This prime location in Cook County, with its high traffic volume and existing infrastructure, makes this a truly exceptional investment opportunity priced at $650,000. Don't miss this chance to acquire a highly visible and strategically located commercial property in a thriving area of Palatine, IL, zip code 60074.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $455,000

    • CAP approach

      CAP return
      Estimation
      6%
      $360,000
      6.5%
      $410,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $400,000
      Geo Method
      $390,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $400,000
      Retail
      $465,000
      Mixed-Use
      $410,000
      Hospitality
      $355,000
      Educational
      $385,000
      Residential Income
      $360,000
      Energy
      $440,000
      Income-Based Land
      $345,000
      Food Service
      $350,000

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.0342
    Latitude
    42.1507
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $19,620
    $52,031
    $16,474
    $68,505
    -
    $208,124
    $65,896
    $274,020

    Comparable in this City

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      2242 Rand Rd

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      1911 Rand Rd, Palatine, IL 60074-1193
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      0.94 Acres

      1440 Enw Hwy

      COMMERCIAL (GENERAL) • 0.94 Acres
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    2161 Rand Rd
    Palatine, IL 60074
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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
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