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1400 E Northwest Hwy 17,000 SF 100% Leased Retail Building Palatine, IL 60074 For Sale
INVESTMENT HIGHLIGHTS
- Generational Redevelopment Opportunity! 2.51 Acres For Sale
- 472 Feet of frontage on busy Northwest Hwy (Rt 14)
- Wide range of allowable uses for redevelopment
- +2.51 acres located directly across the street from Potential home of the Chicago Bears (Former Arlington Park Racetrack)
- **Existing Income in place during redevelopment process** (Current NOI: $99,026 per year)
- For Sale: Price is subject to offer!!
EXECUTIVE SUMMARY
Generational Redevelopment Opportunity!
+2.51 acres located directly across the street from Potential home of the Chicago Bears
Prime Location Just 1/4 mile from Rt 14 & Rt 53 Full Interchange
Located directly across Arlington Park Metra Train Station
472 Feet of frontage on busy Northwest Hwy (Rt 14)
Wide range of allowable uses for redevelopment
North Side of Northwest Highway and West Williams
Zoned B-2 for general business access
**Existing Income in place during redevelopment process**
Ideal for any 1031 Exchange (Current NOI: $99,026 per year)
**Leases in Place with owner right to terminate with 6 Months Notice**
Prime Location Just 1/4 mile from Rt 53 Interchange
For Sale: Price is subject to offer!!
+2.51 acres located directly across the street from Potential home of the Chicago Bears
Prime Location Just 1/4 mile from Rt 14 & Rt 53 Full Interchange
Located directly across Arlington Park Metra Train Station
472 Feet of frontage on busy Northwest Hwy (Rt 14)
Wide range of allowable uses for redevelopment
North Side of Northwest Highway and West Williams
Zoned B-2 for general business access
**Existing Income in place during redevelopment process**
Ideal for any 1031 Exchange (Current NOI: $99,026 per year)
**Leases in Place with owner right to terminate with 6 Months Notice**
Prime Location Just 1/4 mile from Rt 53 Interchange
For Sale: Price is subject to offer!!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$193,333
|
$11.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$193,333
|
$11.37
|
| Taxes |
$85,791
|
$5.05
|
| Operating Expenses |
$8,516
|
$0.50
|
| Total Expenses |
$94,307
|
$5.55
|
| Net Operating Income |
$99,026
|
$5.83
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $193,333 |
| Annual Per SF | $11.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $193,333 |
| Annual Per SF | $11.37 |
| Taxes | |
|---|---|
| Annual | $85,791 |
| Annual Per SF | $5.05 |
| Operating Expenses | |
|---|---|
| Annual | $8,516 |
| Annual Per SF | $0.50 |
| Total Expenses | |
|---|---|
| Annual | $94,307 |
| Annual Per SF | $5.55 |
| Net Operating Income | |
|---|---|
| Annual | $99,026 |
| Annual Per SF | $5.83 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
17,000 SF
Building Class
C
Year Built
1962
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
2.51 AC
Zoning
B-2, Palatine - B-2 General Business
Village open to rezoning
Parking
120 Spaces (7.05 Spaces per 1,000 SF Leased)
Frontage
342’ on E Northwest Hwy
AMENITIES
- Metro/Subway
TRAFFIC
| COLLECTION STREET | CROSS STREET | TRAFFIC VOLUME | YEAR | Distance |
|---|---|---|---|---|
| US 14 | S Consumers Ave, SE | 8,791 | 2025 | 0.10 mi |
| US 14 | E Katie Ln, NW | 15,638 | 2024 | 0.14 mi |
| E Northwest Hwy | I- 290, NW | 21,367 | 2025 | 0.27 mi |
| E Northwest Hwy | W Northwest Hwy, SE | 21,646 | 2023 | 0.28 mi |
| East Northwest Highway | W Northwest Hwy, SE | 21,410 | 2025 | 0.31 mi |
| Not Available | Not Available, No | 3,527 | 2020 | 0.34 mi |
| US 14 | State Rte 53, NW | 20,524 | 2025 | 0.35 mi |
| US 14 | E Northwest Hwy, NW | 15,638 | 2024 | 0.35 mi |
| North Wilke Road | W Northwest Hwy, S | 4,501 | 2025 | 0.37 mi |
| Wilke Rd | W Northwest Hwy, S | 4,500 | 2023 | 0.37 mi |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | 02-24-400-010-0000, 02-24-405-007-0000 | Total Assessment | $285,087 |
| Land Assessment | $234,612 | Annual Taxes | $85,791 ($5.05/SF) |
| Improvements Assessment | $50,475 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$234,612
Improvements Assessment
$50,475
Total Assessment
$285,087
Annual Taxes
$85,791 ($5.05/SF)
Tax Year
2024
MAP
ADDITIONAL PHOTOS
Aerial View
Site Plan