Incredible income potential opportunity!! Easy to rent 1 bedroom apartments, @$1300/month each - 8 units, with common laundry, storage cages, and tons of parking. Conveniently located in an area of mixed commercial and residential buildings, fantastic access to shopping, downtown Palatine, and train station.
Multi-familyProperty Type
1960Year Built
0.38 acresLot Size
Listed by Dina Wasmund• Berkshire Hathaway HomeServices Starck Real Estate
Remove and replace existing steel pan stairs with new steel pans.
Remodel
Apr 15, 2024 • Final
Building permit for alteration to multifamily
Repair the sewer line and install a new cleanout.
Plumbing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking Information
Outdoor Parking: 13-18 Spaces
Interior
Equipment
# Of Ranges: 8
# Of Washers: 1
# Of Dryers: 1
Washer/Dryer Lsd (Y/N): No
Unit Type 1 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 2
Monthly Income: $1,250
Unit Type 2 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 1
Monthly Income: $1,025
Unit Type 3 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 2
Monthly Income: $850
Unit Type 4 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 1
Monthly Income: $875
Unit Type 5 Information
# of Rooms: 3
# of Bedrooms: 1
# of Bathrooms (Total): 1
# of Full Bathrooms: 1
# of Units: 2
Monthly Income: $1,300
Exterior
Building Information
# of Units: 8
Built Before 1978 (Y/N): Yes
Roof: Tar/Gravel
Roof Structure: Flat
Foundation Details: Concrete Perimeter
Construction Materials: Brick
Property Information
Property Type: Multi Family 5+
Property Offered: For Sale Only
Tenancy Type: Leases
Parcel Number: 02144000540000
Lot Information
Dimensions: 218 X 75
Financial
Tax Information
Tax Annual Amount: $13,303
Tax Year: 2024
Financial Information
Finance Code: Conventional
Gross Rent Multiplier: 9.5
Total Monthly Income: $10,500
Gross Income: $126,000
Utilities
Utility Information
Water Source: Community Water
Electric: Service - 101 to 200 Amps
Utilities: Sewer Connected
Heating & Cooling
Heat/Ventilation: Electric
Cooling: Wall Sleeve
# Of Window/Ac: 8
Location
Location Information
Township: Palatine
Directions: Corner of Northwest Hwy (Rte 14) and Hicks Rd (must enter from northbound NW Hwy)
Public facts
Beds: —
Baths: —
Sq. Ft.: 3,850
Stories: —
Lot Size: 0.38 acres
Style: Multi-Family (5+ Unit)
Year Built: 1960
Year Renovated: —
County: Cook County
APN: 02144000540000
Home facts updated by county records on Sep 15, 2026
Other
Expense Information
Water Sewer Expense: $1,512
Water Expense Source: Actual
Insurance Expense: $4,230
Listing Information
Possession: Closing
Some Photos Virtually Staged?: Yes
Around this home
Schools
Virginia Lake Elementary School
Public PreK-5 • Assigned • 0.9mi
6/10
Winston Campus Junior High School
Public 6-8 • Assigned • 0.7mi
5/10
Palatine High School
Public 9-12 • Assigned • 1.2mi
8/10
Provided by GreatSchools
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 100° expected this year, 14 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Palatine, IL • 60067
Average low and high temperatures (°F)
29
15
37
22
54
34
62
43
69
49
81
63
85
68
81
64
78
58
67
49
50
37
35
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in Palatine. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.