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500 N Plum Grove Rd , Palatine, IL 60067
$375,000
Est. Payment: $2,012.05/mo
3778 Sqft
0.22 Acres
Status: active | Days on site: 7
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House Description

500 N. Plum Grove offers a rare opportunity to own a well-maintained, stand-alone commercial condominium building with excellent visibility, prominent road frontage, abundant parking, and flexible occupancy options. Positioned along a main thoroughfare, the property provides strong exposure to passing traffic and a professional first impression for clients, customers, and visitors. The durable brick exterior enhances the building's curb appeal and long-term value, while approximately 100 common parking spaces provide convenient access for tenants, employees, customers, deliveries, and visitors. The building contains approximately 3,778 square feet and may be configured into as many as three separate commercial units, creating flexibility for an owner-user, multiple professional tenants, or an investor seeking a multi-suite property. The layout is well suited for a variety of professional office uses, including law, dental, medical, accounting, financial, consulting, and other business services. The main executive office contains a private bath and shower. Three HVAC units support comfortable operating environments and provide additional flexibility for separate occupants. Two tenants are currently in place on a month-to-month basis: Tenant 1 occupies approximately one-half of the building and pays $2,750 per month. Tenant 2 occupies approximately one-half of the remaining space and pays $1,800 per month The current tenants generate approximately $4,550 in monthly rental income, or $54,600 annually, providing existing cash flow for a new owner. Both tenants may remain in place and are willing to consider formal lease agreements. Alternatively, either tenant may relocate with appropriate notice, allowing an owner to occupy the building, reconfigure the space, or implement a preferred leasing strategy. Convenient roadway access, nearby public transportation, and proximity to the train station further enhance the property's accessibility for employees, clients, and customers. Its connection to major transportation routes makes it an attractive location for businesses seeking visibility, parking, transit access, and adaptable commercial space. 500 N. Plum Grove combines owner-user potential, existing rental income, flexible subdivision options, professional curb appeal, and convenient accessibility in a highly practical commercial setting.

Highlights

Listed by Jeffrey Olichwier , 312-375-9653 Patrick Jeffrey Realty , 773-772-1782. Midwest Real Estate Data mls logo

Property Type

Commercial Sale

Lot/Acreage
0.22

Year Built

1989

County

Cook

Area

Palatine

Listing ID

12683694

Questions about this listing?

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Interior Features

Air Cond:Central Air,Central Individual
Fireplaces:
Floor:Carpet,Tile
Water:Municipal Water

Exterior Features

Lot Dimensions:70.89 x 133
Zoning:PUD
Roof:Composition
Parking Features:Over 100 Spaces,Common Parking,Open,Paved,Private Lot,Parking On-Site
Principal Interest
$2,012
Taxes
$1,956

Home Price

$375,000

Loan Details

30 yrs
7.08%

Down Payment

20%
$75,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,012.05

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,012.05 $1,955.75 $0.00 $3,967.80
Yearly $24,144.62 $23,469.00 $0.00 $47,613.62
Total $724,338.63 $704,070.00 $0.00 $1,428,408.63
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Master Chief
Lender
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Market insight data is pulled from the same city as the listing being viewed (Palatine, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. 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. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-10-27T06:57:04.000Z

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