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$850,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 7,000 Sq. Ft.
  • Updated 2 days ago
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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.

Full Property Details for 552 E Northwest Hwy

General

  • Price: $850,000
  • Taxes: $15,907 (2022)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12773893
  • Updated: 10/1/2026
  • Added to Site: 3 day(s) ago

Interior

  • Flooring: Tile, Wood

Additional Information

  • Security/Safety: Alarm Monitored, Alarm on Site, Fire Extinguisher(s)

Location

  • Area: Palatine
  • County: Cook
  • Township: Palatine
  • Driving Directions: North on Northwest HWY property on the right
  • Location Details: Northwest Suburban, Central Business District, High Traffic Area

Heating & Cooling

  • Cooling Type: Central Air Conditioning
  • Heating Type: Forced Air, Gas

Utilities

  • Water: Municipal Water
  • Trash: 420
  • Onsite: Electricity to Site, Natural Gas Available, Sewer Connected

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Foundation: Concrete Perimeter
  • Roof: Tar/Gravel
  • Sub-Flooring: Tile, Wood
  • Stories/Levels: 2
  • Square Feet: 7,000
  • Current Bldg. Use: Office
  • # of Stores: 2
  • Year Built: 1956
  • Built Before 1978: Yes

Unit Information

  • # Tenants: 4
  • Units w/Refrigerators: 3
  • Units w/Range/Oven: 2
  • # Dryers: 2

Lot Features

  • Lot Size (Sq. Ft.): 7,500
  • Lot Dimensions: 50 x 150
  • Drainage: Storm Sewers
  • Potential Use: Office
  • Zoning: MULTI

Financial Considerations

  • For Sale/Rent/Lease: For Sale Only
  • Insurance Fee: $5,000
  • Other Fee: $3,000
  • Security Deposit: Alarm Monitored, Alarm On Site, Fire Extinguisher/s
  • Assessment Year: 1956
  • Tax Amount: $15,907
  • Tax Year: 2022
  • Tenant Pays: Air Conditioning, Electricity, Heat, Sewer
  • Pays Trash: 420

Disclosures and Reports

  • Property ID: 2232140100000

Listed by Hometown Real Estate Group

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— 552 E Northwest Hwy —

  • Hometown Real Estate Group

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NMLS#: 1598647

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 552 E Northwest Hwy

School Districts:Palatine Community Consolidated School District 15, Township High School District 211
NameGradesDistance
Virginia Lake Elementary School
925 North Glenn Drive, Palatine, IL 60074
K-51.6 mi
Winston Campus Jr High School
120 North Babcock Drive, Palatine, IL 60074
6-80.6 mi
Palatine High School
1111 North Rohlwing Road, Palatine, IL 60074
9-121.9 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 552 E Northwest Hwy Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/01/2026
Listed
$850,000
142.86%
MLS
1/05/2018
Sold
$350,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 552 E Northwest Hwy

Year
Property Taxes
Change
Tax Assessment
Change
2023
$15,987
—
$77,000
43%
2023
$15,987
3%
$54,000
—
2022
$15,466
-12%
$54,000
—
2021
$17,494
2%
$53,866
—
2020
$17,233
-3%
$53,866
-13%
2019
$17,756
-8%
$61,915
—
2018
$19,252
186%
$61,949
181%
2017
$6,731
8%
$22,076
—
2016
$6,259
-28%
$22,076
-22%
2015
$8,648
-15%
$28,145
-16%
2014
$10,198
-11%
$33,600
-13%
2013
$11,412
65%
$38,584
50%
2012
$6,909
—
$25,768
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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552 E Northwest Highway, Palatine, IL 60074 (MLS# 12773893) is a Commercial property. 552 E Northwest Highway is currently listed for $850,000 and was received on October 01, 2026. Want to learn more about 552 E Northwest Highway? Do you have questions about finding other Commercial real estate for sale in Palatine? You can browse all Palatine real estate or contact a Coldwell Banker agent to request more information.

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