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$3,250,000
Est. payment /mo
1 Acres Lot
UPDATED:
11/12/2024 06:07 AM
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12119741
Annual Tax Amount $114,475
Tax Year 2022
Lot Size 1.000 Acres
Lot Dimensions 329.18X244.54X237.49X88.59
Property Description
Welcome to downtown Palatine, across the street from the Palatine train station. Built in 2003, the 21,500 square feet building is comprised of a bar/restaurant with a full kitchen, a 7,000 square feet entertainment venue with a mezzanine leading to a rooftop deck, and an adjacent 2,500 square feet bank with one drive thru lane. Sitting on an acre of land, the site has been previously approved for redevelopment with a new 6 story mixed use building, complete with a rooftop amenity deck and 9,900 square feet of ground floor commercial space. The retail commercial space is divisible and includes approximately 1,250 square feet of covered patio area. The proposed development includes approximately 52 residential units located on floors 2-6, made up of 2 bedrooms/2 bath units and 2 bedrooms+den/2 bath units. The rooftop residential amenity deck includes an enclosed amenity area, terraces, and elevator access. The building is within the transit oriented development area parking requirements. With an existing 42 surface spaces. Palatine is a thriving commercial trade area - an ideal location for ambitious professionals and businesses alike. Contributing to an engaging and vibrant community atmosphere that's primed for continued growth and development.
Location
State IL
County Cook
Area Palatine
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Sanitary Sewer, Water-Municipal
Building
Dwelling Type Land
Schools
High Schools Wm Fremd High School
School District 15 , 15, 211
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Sharon Dolezal • Compass
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