700 Euclid Ave Palatine, IL 60067
- Lifestyle centers
- 127,973 SF
Current Use by Public Records
- MB Financial Bank / Financial Planner / Atm
- Fifth Third Securities - Melvin Lubelski / Financial Planner
- Fifth Third Bank & ATM / Bank / Atm
- American Chartered Bank / Bank / Mortgage Broker
Property Details for 700 Euclid Ave
- Year built
- 2000
- Property size
- 127,973 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Regency Plaza, a 127,973 square foot retail center in Palatine, Illinois, presents a compelling value-add investment opportunity. This multi-tenant property, situated at 700 W Euclid Ave, boasts two buildings constructed in 2000 and sits on a B3-zoned lot in Cook County. Currently at 48% occupancy, the center comprises 25 units across 11 tenants, including national brands like Dollar Tree, Fifth Third Bank, Crunch Fitness, State Farm, Jimmy John's, and True Value. A significant portion of the vacant 66,000+ square feet of gross leasable area (GLA) is comprised of a former Dominick's Finer Foods space, which has generated recent interest from both national and ethnic grocery chains. The property's east end (suites 706-732) is adaptable to accommodate a new anchor tenant, offering flexibility in space configuration. Recent improvements include suite remodeling, HVAC system replacements, tuckpointing, and masonry work. The strong existing tenant lineup, coupled with the potential for a new grocery anchor and the recent leasing momentum (including three new leases totaling 26,632 square feet), positions Regency Plaza for substantial growth and return on investment. The Fifth Third Bank is located on a separate tax parcel, offering the potential for a strategic spin-off. This property offers multiple value creation opportunities for a savvy investor.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palatine
- County
- Cook
- State
- Illinois
- Longitude
- -88.0610133
- Latitude
- 42.087738
