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$2,484,000
345 N Eric Dr, Palatine, IL 60067
0 Beds
0 Baths
n/a sqft

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The subject property is a 34,500 square foot industrial building built in 1970 and recently renovated, located on the north side of Palatine near the downtown area just off of Colfax Street, in Cook County. The property sits on approximately 1.65 acres of land. The building was designed as a single-tenant building, but with minor modifications, it now accommodates seven tenants. The property can easily be converted back to a true owner/user or can be sold as an investment. An owner/user buyer could occupy between 15,000 SF - 34,500 SF. Currently, the property is occupied by 7 tenants, including the owner's businesses which occupy three of the units. The building is more suited for an owner/user and the tenants are all on short-term leases. The owner's businesses will vacate the building and the tenants can be easily vacated as well, providing a full building for an owner/ user. The property has been significantly renovated including many upgrades. There is a new office area along with new restrooms in one of the tenant spaces. There are a total of 6 restrooms and the majority are ADA compliant. Lighting has been upgraded as well. The building sits on a concrete slab and features two exterior truck-level loading docks, and a 16' drive-in-door. The ceiling heights range from 14 to 16 feet. Four 15-to-20-ton rooftop HVAC units and one interior unit service the building. The HVAC is relatively new, replaced approximately three years ago. The roofing was recently overlaid with a single-ply roofing system. There is a new storm sewer on the property and a total of 56 parking spots, providing significant parking for this property.
  • Price:
  • $2,484,000
  • Acreage:
  • 1.65
  • Year Built:
  • 1970
  • Listing ID #:
  • MRD11255877
  • Street Address:
  • 345 N Eric Dr
  • City:
  • Palatine
  • State:
  • Illinois
  • Postal Code:
  • 60067
  • County:
  • Cook
  • Community:
  • Palatine
  • Listing Status:
  • Active
  • Listing Type:
  • Industrial
  • Exterior Description:
  • Brick
  • Leasable Square Feet:
  • 34500
  • Loading Area:
  • 1
  • Stories:
  • 1
  • Year Built:
  • 1970
  • Estimated Potential Income:
  • 81982
  • Gross Income:
  • 200400
  • Net Operating Income:
  • 193835
  • Operating Expense:
  • 50157
  • Conforms To Zoning:
  • Manuf
  • Existing Land Use:
  • Commercial
  • Lot Square Footage:
  • 70089
  • Suitable Use:
  • Commercial, Industrial, Office And Research, Other, Single Room Occupancy
  • Days On Market:
  • 67
  • Originating Mls:
  • Mred
  • Property Taxes:
  • $38,391
  • Tax Year:
  • 2020
  • Parking Spaces:
  • 54
  • Cooling System:
  • Central Individual
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By Sperry Van Ness
  • ILMRED

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