1551 E Olive Street
Palatine, IL, 60074 $ 949,000
Bedrooms5 Baths3.1 Sq 4,119 Monthly Estimate*
$ 5,843
for $949,000 with 5 bedrooms and 3 full baths, 1 half bath. This 4,119 square foot home was built in 2014 on a lot size of 0.321.
Stunning move-in-ready luxury meets exceptional space and design in this beautifully updated Palatine home offering over 4,000 square feet of refined living on an oversized premium third-acre lot. Built in 2014, this 5-bedroom, 3.5-bath home with a full basement and expanded 3-car tandem garage delivers the ideal blend of space, functionality, and newer-construction appeal. Perfectly positioned in one of Palatine's most exciting and evolving locations, this home is within walking distance to the proposed Chicago Bears stadium and surrounding redevelopment district, bringing future growth, entertainment, dining, and long-term value right to your doorstep. Convenient access to shopping, restaurants, major expressways, Metra, Twin Lakes Park, Salt Creek Park District Child Care, and the highly sought-after Twin Lakes Recreation Area further enhances the incredible lifestyle this location offers. Step inside to a freshly painted, true open-concept layout featuring gorgeous hardwood floors, a formal living room, dining room, private main-level office, and a warm, inviting family room anchored by a fireplace. The heart of the home is the stunning kitchen, complete with rich cabinetry, quartz countertops, stainless steel appliances, double wall ovens, cooktop with hood, large island with seating and storage, walk-in pantry, and bright eating area that flows seamlessly into the family room. Upstairs, the expansive primary suite offers a private sitting area, large walk-in closet, and spa-like bath with dual vanities, soaking tub, and separate shower. Generously sized secondary bedrooms provide excellent flexibility for family, guests, or work-from-home needs. The full unfinished basement offers incredible future potential and is already roughed in for a fourth full bath. The expanded tandem garage is ideal for car enthusiasts, hobbyists, storage, workshop space, or even a golf simulator setup, and includes a 220V outlet for a possible heater or EV charger. An additional parking pad offers room for 4-6 more vehicles. Enjoy outdoor living on the massive maintenance-free deck with built-in natural gas line overlooking the large backyard. Recent updates include a new roof and gutters and a whole interior repaint. This is a rare opportunity to own not just a beautiful home, but a prime piece of one of Palatine's fastest growing and most dynamic areas.
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FeaturesGeneralLiving Area 4119
Sewer Public Sewer
Heating Natural Gas Forced Air
Cooling Central Air
Possession Closing
Roof Asphalt
Appliances Range Dishwasher Refrigerator
HOA Fee 0
Garage Spaces 3
Association Fee Includes None
Construction Materials Brick Cedar
Year Built 2014
Electric 200+ Amp Service
Township Palatine
Tax Year 2024
Ownership Fee Simple
Assoc Fee Paid Per Not Applicable
County Cook
New Construction N
Property Type Residential Detached Single
Total Rooms 11
Full Baths 3
Status Active
Directions Northwest Highway E of 53 to Wilke N to Olive. Model in Glen Ellyn
High School Palatine High School
City Palatine
High School District 211
MLS Area Palatine
Elementary School Jane Addams Elementary School
Tax Annual Amount 20920.63
Middle/Junior High School Winston Campus Middle School
Standard Status Active
Middle/Junior School District 15
Elementary School District 15
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InteriorInterior Amenities Walk-In Closet(s)
Basement Unfinished Full
Flooring Hardwood
Total Fireplaces 1
Half Baths 1
Laundry Features Main Level In Unit
Total Bedrooms 5
Room Type Office Bedroom 5 Sitting Room
Total Baths 4
Bedrooms Possible 5
Bathroom Separate Shower Double Sink Soaking Tub
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ExteriorModel MORTON
Parking Features Asphalt Garage Door Opener Yes Garage Owned Attached Garage
Water Source Public
Total Parking 3
Foundation Details Concrete Perimeter
Lot Dimensions 13967
Lot Size Acres 0.321
Waterfront Y/N N
Other Equipment Ceiling Fan(s) Sump Pump
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* Excluded FeaturesList ByLegacy Properties, A Sarah Leonard Company, LlcBroker
sarah@sarahleonardsells.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $5,843
- Monthly Property Taxes
- $1,743
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% 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.
Learn more about how to save NearbySingle family listings in Palatine, IL
Average List Price $636,891
Percent of Sale Price 33%
About Palatine, IL 67,137 Population
2% Since 2002
$ 76,021 Median Income
39.39 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
565457 Elementary School
4711537 Middle School
Palatine High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 4/29/2026 | $949,000 | | Listed Price |