Listing provided courtesy of Mega USA Properties, Inc.MREDas Distributed by MLSGrid- MLS# 12615492MLS Provider

473 W Northwest HighwayPalatine, IL 60067

Commercial · 10,800 Sq. ft.
$1,500,000 Active

473 W Northwest Highway Overview

Time on Site:
80 days
Visits:
0

Don't miss this outstanding income-producing opportunity! This two-story retail and office building offers approximately 10,800 square feet on a 0.56-acre lot within a B2 zoning district, delivering excellent visibility with traffic counts exceeding 20,000 vehicles per day. The property features strong street presence and a well-balanced mix of retail and office space. Each retail unit is equipped with a private restroom, and tenants pay their own utilities, contributing to efficient operations. The first floor includes four retail units, while the second floor offers seven office suites. The building is nearly fully leased, with only two spaces remaining-ideal for owner occupancy or additional income potential. Fully sprinklered and recently updated, this property represents a true turnkey, low-maintenance investment in a highly desirable commercial corridor. The available office spaces can be customized with flexible build-to-suit options to suit a variety of uses. Surrounded by a dense residential population and benefiting from strong exposure, this asset presents a prime investment opportunity with significant upside potential.

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473 W Northwest Highway Facts & Features

  • Type Commercial
  • Sq. ft. 10,800
  • Price/Sq.ft. $139

Details

General

Association/HOA

  • Association Fee Frequency: Monthly

Income/Expenses

  • Existing Lease Type: Gross
  • Gross Income: 134500
  • Gross Scheduled Income: 134500
  • Net Operating Income: 0

Building Information

  • Year Built: 1981

Business Information

  • Current Use: Commercial

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: Palatine
  • Township: Palatine

Rent/Lease Information

  • Tenant Pays: Other

Tax Information

  • Tax Annual Amount: $47,762.00
  • Tax Year: 2023

General Information

  • Parcel Number: 02151020950000
  • Property Sub Type: Retail
  • Property Type: Commercial Sale
  • Zoning: COMMR

Interior

Building Interior

  • Building Area Total: 10800

General Information

  • Cooling: Central Air
  • Electric: Circuit Breakers
  • Foundation Details: Concrete Perimeter
  • Leasable Area: 10800
  • Stories: 2

Unit Information

  • Unit SqFt.: 8951

Exterior

Lot Information

  • Additional Parcels: No
  • Frontage Type: Public Road,Signal Intersection
  • Lot Size Dimensions: 169X109X197X175
  • Lot Size Square Feet: 24800

Building Exterior/Construction

  • Construction Materials: Brick, Other

General Information

  • Number Of Units Total: 11
  • Utilities: Electric to Site,Natural Gas Available

473 W Northwest Highway Neighborhood

Community

60067 (PALATINE) Demographics

42
Median Age
2,804
Population Density (per sq. mile)
68%
College Educated
$108,270
Estimated Median Income
11,862
Estimated Total Home Owners
3,501
Estimated Total Renters
77% / 23%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

473 W Northwest Highway Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

473 W Northwest Highway Market Data

Based on the last 30 days in this zip code

$605,058
Average List Price
$276
Average Price per Square Foot
44
Properties Sold
61
Average Days on Market
159
Properties for Sale
Calculations provided by Reliance Network

473 W Northwest Highway History

Date Event Value Agent
4/15/2026Source: MRED Status Change
Active
4/10/2026Source: MRED Added to Database
April 10, 2026