Property summary
This exceptional Palatine property presents a unique mixed-use investment opportunity. Located at the highly visible northeast corner of Palatine Road and Northwest Highway, this free-standing building offers approximately 2,040 square feet of versatile space. The property features a 1,000 square foot storefront, ideal for retail, office, or showroom use, combined with a remodeled 950 square foot, two-bedroom ranch-style residential unit in the rear. The residential unit boasts a private entrance, a cherrywood kitchen with granite countertops and stainless steel appliances, hardwood floors, and a full finished attic with pull-down stairs, providing additional storage. The property benefits from significant recent upgrades, including a new roof (2023), newer windows, updated zoned systems, and a new asphalt parking lot (2022), accommodating 12 vehicles. Energy-efficient ComEd interior and exterior lighting further enhances operational efficiency. The residential component contributes to exceptionally low property taxes. The entire building is zoned B-1, allowing for potential expansion of business operations into the residential space, subject to village code requirements and restrictions. 24-hour notice is required for showings to avoid disturbing occupants.
Property profile
VerifiedCap rate & NOI
Current use
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Hair Salon Nail Salon
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2022Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
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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