For Sale
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Property summary
33 Realty (“33”) has been exclusively engaged by Towne Park Condo Association to present the opportunity for inventors to acquire this *132 unit condo deconversion at 140 Wood in Palatine, IL (subject to Section 15 of the Illinois Condominium Property Act). Originally built in 1971 the property was converted to condos in 2005. The property is comprised of 44 studios measuring approximately 369 sq ft, 52 one-bedroom units measuring between 645 and 772 sq ft, 24 two-bedroom, one-bathroom units measuring approximately 910 sq ft and twelve (12) two-bedroom, two-bathroom units measuring approximately 1094 sq ft. There are a total of 184 exterior parking spots 46 of which are rented to the city of Palatine and used for commuter parking because of proximity to the Chicago Transit Authority’s Metra Train Line (“Metra”). Multi-tiered add value opportunity Fantastic location in downtown Palatine Steps from Metra line Great mix of for-rent property with studios 1 and 2 bedroom units Large piece of property with additional development potential Building amenities include pool gym and storage lockers - Additional space available to update amenities Over parked property with 184 parking spaces Porches newly replaced by association
Property profile
VerifiedCap rate & NOI
Current use
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Production Facility
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Condominium Complex
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Business Management Consultant
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Tutoring Service
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Palatine market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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