224 Palatine, IL $ 3,000,000
224
$ 3,000,000
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224

Palatine, IL, 60067
$ 3,000,000
Bedrooms2 Baths0.0

Monthly Estimate*

$ 18,716

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Multi-Family Home for sale in Palatine, IL

for $3,000,000 with 2 bedrooms. This home was built in 1984.

224 & 228 Rimini Court, Palatine, IL - 12-Unit Apartment Building *Outstanding investment opportunity in a prime Palatine location. This fully remodeled 12-unit property offers twelve spacious two-bedroom, one-bathroom condos, each equipped with individual central heating and air conditioning. *All units have been completely updated, featuring modern finishes, renovated kitchens and bathrooms,flooring and appliances replaced within the last few years. Each unit also includes a private balcony with views of a wooded area to the rear of the property. *Building improvements include a newer roof, windows, and sliding doors, secure intercom system, individual basement storage units, and much more... *The property backs to a quiet wooded area, providing privacy and outdoor space for residents. *Located near schools, shopping, transportation, and parks, this turn-key asset offers strong rental potential and consistent performance in a highly desirable suburban market.

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Multi-Family Active

Price

$ 3,000,000

Bedrooms

2

Property Type

Multi-Family

Taxes

$ 32,719

Style

Multi-Family

Year Built

1984

Town/City

Palatine

County/Region

Cook

MLS | Web ID

12516857

Features
General
Cooling Central Air
Zoning MULTI
Association Fee Includes Parking Insurance Exterior Maintenance Lawn Care Scavenger Snow Removal
Construction Materials Brick Block Wood
Year Built 1984
Electric Circuit Breakers
Tenant Pays Electricity Heat
Stories Count 3
Township Palatine
Tax Year 2023
Current Use Multi-Family
Gross Income 281100
County Cook
Net Operating Income 214713
Operating Expense 66387
Insurance Expense 4384
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 19697
Possible Use Condominium
Status Active
Directions Hicks N of Rte 14 to Rimini Ct to 228
City Palatine
Number Of Units Total 12
MLS Area Palatine
Tax Annual Amount 32719.32
Electric Expense 798
Fuel Expense 2595
Trash Expense 0
Water Sewer Expense 4518
Additional Parcels Y/N Y
Standard Status Active
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Interior
Basement Partially Finished
Total Fireplaces 0
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Exterior
Water Source Community Water
Foundation Details Concrete Perimeter
Lot Dimensions 106x53
Frontage Type City Street
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* Excluded Features
List By
Coldwell Banker Realty

Broker

GALYA.GEORGIEVA.GG@GMAIL.COM

Email

Affordability Calculator

$21,443
Per Month
87%
13%
0%
Monthly Principal & Interest
$18,716
Monthly Property Taxes
$2,727
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% 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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Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
11/13/2025$3,000,000 Listed Price

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224, Palatine, IL, 60067 is a Multi-Family Home for sale at $3,000,000. 224 has 2 bedrooms, 0.0 baths, and was built in 1984. The property's zip code is 60067 which is in Palatine, IL