New search
Property profile & analytics
FOR LEASE
Retail space
579 N 1St Bank Dr, Palatine, IL 60067
Trust Owned
15-yr Hold
~
Est. High Equity
Property ID
US28-2074976
For Lease
1 / 3
$16 SF/Yr
579 N 1St Bank Dr, Palatine, IL 60067
View Listing →
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1987
Lot
1.41 ac (61,420 SF)
APN
02-14-100-071
UPID
US28-2074976
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Greater Palatine Chamber-Commerce Business Service Center Advocacy Group
-
Liquid Capital of Illinois Business To Business Service Financial Consultant
-
Albers Theresa DDS Dental Office
-
Mature Health Services Insurance Agency
-
Aetna National List Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Trust Mp-011609 · 15 yrs held
Trust Mp-011609
since 2011
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Palatine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palatine submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$105,628
Tax year 2022
Assessed value
$368,807
Assessed 2022
Previous assessed
$356,778
+3.4% YoY
Effective rate
28.64%
On assessed value
Assessed land
$229,507
Assessed improvement
$139,300
Land market value
$918,028
Improvement market value
$557,200
Total market value
$1,475,228
Applied tax rate
29,007.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Status
For Lease
Year built
1987
Heating
NONE
Lot
1.41 ac (61,420 SF)
APN
02-14-100-071
UPID
US28-2074976
Jurisdiction
COOK
Metro division
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1987
Heating
NONE
Lot
1.41 ac
Current owner
From public records · entity-resolved
Trust Mp-011609
Trust
Mailing address
PO BOX 1189, PALATINE, IL 60078-1189
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2011
—
Trust Mp-011609
—
Grant Deed
related
$4,000,000 · Cornerstone Nat'l Bank & Trust
Jun 24, 2004
—
Lasalle Bank NA Trustee
—
Deed Of Trust
related
$1,157,810 · Royal American Bank
Jul 5, 2001
—
Lasalle Bank NA Trustee
—
Deed Of Trust
related
$1,573,487 · Royal American Bank
—
—
Trust Mp-011609
—
Loan Modification
related
$8,000,000 · Cornerstone Nat'l Bank & Trust
—
—
Lasalle Bank NA Trustee
—
Deed Of Trust
related
$200,000 · Royal American Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
