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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    309 Benton St Palatine, IL 60067-5205

    • Residential income homes
    • 1,928 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    7.8%
    Residential income homes
    Location Intelligence
    Property ID
    US28-4717405
    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

    • Blair Decorating / Painter

    Property Details for 309 Benton St

    Year built
    1865
    Construction
    FRAME
    Lot size
    0.24 lot acres
    Property size
    1,928 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    02-14-303-001
    APU
    214303001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $415,000
      6.5%
      $385,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $429,000
      Market price range: $278k - $430k
      AI Estimate
      $323,000
      Market price range: $166k - $324k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $335,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $425,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $285,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.041
    Latitude
    42.1163
    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
    $9,044
    $6,259
    $28,740
    $34,999
    -
    $62,590
    $287,400
    $349,990

    Comparable in this City

    • Value Estimation
      $380,000
      3,044 SF

      227 Nnw Hwy

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,044 SF
      227 Nnw Hwy, Palatine, IL 60067-5326
      View Details
    • Value Estimation
      $405,000
      3,441 SF

      140 Bothwell St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,441 SF
      140 Bothwell St, Palatine, IL 60067-5077
      View Details
    • Value Estimation
      $445,000
      3,010 SF

      146 Brockway St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,010 SF
      146 Brockway St, Palatine, IL 60067-0417
      View Details
    • Value Estimation
      $410,000
      4,059 SF

      624 Lk Shr Dr

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,059 SF
      624 Lk Shr Dr, Palatine, IL 60067-2357
      View Details
    • Value Estimation
      $425,000
      5,400 SF

      421 Vermont St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,400 SF
      421 Vermont St, Palatine, IL 60067-6945
      View Details
    • Value Estimation
      $420,000
      3,464 SF

      41 Wilson St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,464 SF
      41 Wilson St, Palatine, IL 60067
      View Details

    Similar Nearby for Sale

    • $20,000,000
      112,000 SF

      Palatine Condo Deconversion Opportunity

      132-unit condo deconversion opportunity in downtown Palatine, Illinois.
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      Two-unit building, prime location.
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    • $3,250,000
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      Downtown Palatine Redevelopment Opportunity

      1 Acre, Mixed-Use Potential, $3.25M
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    • $399,800
      1,782 SF

      Spacious Townhome with Finished Basement

      Updated 2-bedroom townhome with finished basement and private outdoor space.
      1535 W Ethans Glen Dr, Palatine, IL 60067
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    • $210,000
      0.16 Acres

      Mayflower Shopping Center: Prime Retail Space

      High-traffic retail center; 40,000 sq ft available.
      145 Smith St, Palatine, IL 60067
      View Details
    • Contact for pricing
      10,448 SF

      River West Development Opportunity

      Land with income-generating billboard in River West/West Town.
      550 W Colfax St, Palatine, IL 60067
      View Details

    Similar Nearby for Lease

    • $2,200 /Mo

      Remodeled End Unit Apartment

      Newly remodeled 2-bedroom apartment with garage near Palatine downtown.
      115 Hamilton Dr, Palatine, IL 60067
      View Details
    • $22 SF/Yr
      29,395 SF

      Palatine Office Park Investment

      Prime Palatine office space, 8 suites available.
      675 North Ct, Palatine, IL 60067
      View Details
    • Contact for pricing
      1,170 SF

      Retail Space Near Harper College

      Retail spaces available near Harper College and Fremd High School.
      720 West Euclid Ave, Palatine, IL 60067
      View Details
    • Contact for pricing

      Palatine Retail Storefront For Rent

      High visibility corner storefront with easy access and abundant parking.
      60 W Palatine Rd, Palatine, IL 60067
      View Details
    • Contact for pricing
      59,795 SF

      Palatine Warehouse Space Available

      59795 square foot warehouse space for lease in Palatine.
      560 S Hicks Rd, Palatine, IL 60067
      View Details
    • $16 SF/Yr
      250 SF

      Palatine Office Space Available

      Office space available for lease in Palatine, Illinois.
      3-21 E Northwest Hwy, Palatine, IL 60067
      View Details
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    309 Benton St
    Palatine, IL 60067-5205
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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