SQUARE FEET6,694
MLS#12773893
STATUSActive
PROPERTY TYPECommercial - Office
Property Description
Incredible income property, look at the cash flow! 2 apartments and 2 store/offices. Free Standing Mixed-use Building, two minutes away from former Arlington Park Racecourse. Great Exposure on Northwest Hwy., Close Proximity to IL Rte 53, .Lots of parking- 6 in front and 8 or more in the back. 127' of Frontage along Northwest Hwy. Two completely remodeled apartments. 3 bedroom (apx. 1500 SF) and 2 bedroom (apx. 1200 SF) apartment, both with in-unit laundry, hardwood floors, new kitchens with quartz countertops, new baths, open, contemporary lay-out, and separate utilities..5000 SF of Retail space on first floor. 1stt floor has two separate offices, could be use for offices, warehouse, retail/stores, etc., separate utilities, kitchen with sub-zero refrigerator, restrooms, dock door in a back for deliveries, all newer and remodeled. 2.5 car garage. Building has 5 furnaces, 5 A/C units, 3 water meters, The building is in pristine condition. One office space is leased to a dental lab. The other office space is leased for an accountant services. Office/ business spaces are responsible for water electric and heat bill. Residential apartments responsible for electric and gas bill. Additional rent info, profit and loss sheet you can find in additional info.
Property Features
Property Type: Commercial - Office
Cooling: Central Air
Lot Size: 0.17 Acres
Roof Type: Tar/Gravel
Stories: 2.0
Taxes: $15,907
Year Built: 1956
Feature Descriptions
Current Use: Office
Drains: Enclosed Stairs, Security System
Electric: Circuit Breakers, Service - 101 to 200 Amps, Three Phase
Exterior: Brick
Fire Protection: Alarm Monitored, Alarm On Site, Fire Extinguisher/s
Flooring: Tile, Wood
Foundation: Concrete Perimeter
HVAC: Forced Air, Gas
Location: Central Business District, High Traffic Area
Lot Dimensions: 50 X 150
Miscellaneous Outdoor: Enclosed Stairs, Security System
Number of Tenant(s): 4
Parcel#: 02232140100000
Parking: 6-12 Spaces
Potential Use: Office
Tenant Pays: Air Conditioning, Electricity, Heat, Sewer
Units: 4
Utilities: Electric to Site, Natural Gas Available, Sewer Connected
Listed By / Shown By
Listed By
Agency Name: Hometown Real Estate Group
Agency Phone: 773-625-1121
Shown By
Agency Title: Berkshire Hathaway HomeServices Crosby Starck Real Estate
Agency Phone: 815-397-4040
© 2026 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered marks of HomeServices of America, Inc. ®
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552 E Northwest Highway | MLS# 12773893
This commercial property located at 552 E Northwest Highway, Palatine, IL 60074 is currently listed for sale with an asking price of $850,000. Search Palatine real estate on www.bhhscrosby.com today.