Price Reduction
Address
707 W Colfax Street, Palatine, IL
Price
$ 525,000
Property Attributes
- MLS#11857061
- TypeCommercial
- CountyCOOK
- CityPalatine
- AreaPalatine
- Zip60067
- Style
- Year Built1980
- Taxes$ 13714
- Price$ 525,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage2961
- Lot Size6,104 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description
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.
| Price History | |
|---|---|
| 8/10/2023 | Listed $697,000 |
| 8/17/2023 | 6% - $659,000 |
| 10/25/2023 | 6% - $625,000 |
| 2/6/2024 | 6% - $589,000 |
| 4/5/2024 | 11% - $525,000 |
General Features
| 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 |
| County | Cook |
| Operating Expense | 1750 |
| Property Type | Commercial Sale |
| 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 | No |
| Leasable Area | 2961 |
| Days on Market | 247 |
| Lease Type | Gross |
| Standard Status | Active |
| Property Type | Office/Tech |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Building Area Total | 2961 |
|---|---|
| Lot Dimensions | 6104 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60067
Price
Taxes
Visits
Year Built
Walkscore
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than NextHome Select Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2024 All rights reserved.Based on information submitted to the MLS GRID as of April 29, 2024 12:54 PM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of April 29, 2024 12:54 PM UTC
