707 W Colfax Street Palatine, IL $ 525,000
707 W Colfax Street
$ 525,000
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707 W Colfax Street

Palatine, IL, 60067
$ 525,000
Baths0.0 Sq 2,961

Monthly Estimate*

$ 3,667

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Studio

Commercial Property for sale in Palatine, IL

for $525,000. This 2,961 square foot building was built in 1980 on a lot size of 0.140129.

Available FOR SALE and FOR RENT! Built in 1980 and freshly remodeled, 2 floors of office spaces but with potential variation in usage as it is zoned Manufacturing. At the moment, the building it is set up as 4 individual office spaces, 2 on the first floor and 2 on the second floor. One of the 2nd floor units it is rented for 18 months. The ground floor units feature one large open space with half bathroom, it can be used as workshop/warehouse units. The upstairs units have are divided each 2 individual private rooms inside, each with exterior windows. The building is versatile as usage and could be converted into a 4 unit multifamily(buyer must check with Village for permits and zoning), as each of the 4 entities has its own bathroom and separate utilities meter (gas, electric). One water bill for the whole building. The whole building was just painted and carpet was replaced, new laminate flooring, two of the furnaces are brand new, new electric system, windows were just painted, roof repaired, bathrooms remodeled. Large parking area has more than 10 spots with plenty of extra room for potential storage buildable area, sheds, etc. 800 amp service to the building. Very good exposure, estimated over 5000 cars per day, 1 block to post office, 2 blocks to Metra Station. Contact listing agent with all questions. Please check 3D Tour and Video tour attached.

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Commercial Active

Price

$ 525,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 13,714

Style

Lot Size

0.140129

Year Built

1980

Town/City

Palatine

County/Region

Cook

MLS | Web ID

11857061

Features
General
Cooling Central Air
Possession Closing
Zoning OFFIC
Construction Materials Brick
Year Built 1980
Electric Circuit Breakers Separate Meters Over 600 Amps
Tenant Pays Air Conditioning Common Area Maintenance Electricity Heat Janitorial Service
Stories 2
Property SubType Office
Tax Year 2021
Gross Income 0
County Cook
Net Operating Income 0
Operating Expense 1750
Property Type Commercial Sale Office/Tech
Status Active
Directions North on Palatine Rd right on Quentin East on Colfax
City Palatine
Total Units 4
MLS Area Palatine
Lot Size Square Feet 6104
Street Name Colfax
Tax Annual Amount 13714
Additional Parcels Y/N N
Leasable Area 2961
Days on Market 247
Lease Type Gross
Standard Status Active
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Exterior
Building Area Total 2961
Lot Dimensions 6104
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Interior
Street Suffix Street
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* Excluded Features
List By
Century 21 Circle

Broker

dianavarva@gmail.com; diana.varva@c21circle.com

Email

Affordability Calculator

$4,810
Per Month
76%
24%
0%
Monthly Principal & Interest
$3,667
Monthly Property Taxes
$1,143
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/5/2024$525,000 -10.87% Price Down
2/6/2024$589,000 -5.76% Price Down
10/25/2023$625,000 -5.16% Price Down
8/17/2023$659,000 -5.45% Price Down
8/10/2023$697,000 Listed Price

Map


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707 W Colfax Street, Palatine, IL, 60067 is a Commercial Property for sale at $525,000 with 2,961 sqft and a lot size of 0.140129. 707 W Colfax Street is a studio with 0.0 baths and was built in 1980. The property's zip code is 60067 which is in Palatine, IL