new - 5 days on rocket

180 N Smith St, Palatine, IL, 60067

$3,250,000

1.00 Acres
Land

Location

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Property Highlights

Home TypeVacant Land
CoolingCentral Air
MLS #12119741
Lot Size1.00 Acres
StatusActive

About 180 N Smith St

Welcome to downtown Palatine, across the street from the Palatine train station. Built in 2003, the 21,500 square feet building is comprised of a bar/restaurant with a full kitchen, a 7,000 square feet entertainment venue with a mezzanine leading to a rooftop deck, and an adjacent 2,500 square feet bank with one drive thru lane. Sitting on an acre of land, the site has been previously approved for redevelopment with a new 6 story mixed use building, complete with a rooftop amenity deck and 9,900 square feet of ground floor commercial space. The retail commercial space is divisible and includes approximately 1,250 square feet of covered patio area. The proposed development includes approximately 52 residential units located on floors 2-6, made up of 2 bedrooms/2 bath units and 2 bedrooms+den/2 bath units. The rooftop residential amenity deck includes an enclosed amenity area, terraces, and elevator access. The building is within the transit oriented development area parking requirements. With an existing 42 surface spaces. Palatine is a thriving commercial trade area - an ideal location for ambitious professionals and businesses alike. Contributing to an engaging and vibrant community atmosphere that's primed for continued growth and development.

Property Details

Property Features

Listing Office:

  • Office Name: Compass
  • Office Phone: (847) 616-9910
  • Listing Agent: Sharon Dolezal

Lot Features

Lot Information:

  • Lot Size: 1.00 Acres

Utilities

Utilities Information:

  • Cooling: Central Air

Other

Directions Information:

  • Directions: Smith Street North of Palatine Rd.

Price Information

Listing Price Info

Price Summary:

  • List Price: $3,250,000

Tax Information:

  • Annual Amount: $181,354
  • Tax Year: 2019
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Housing Market Comparison

See how this home compares to others in Palatine, IL.

Med. Sold Price

$334.4K

Med. Price/SqFt

$216

Avg. Days On Market

19

# of Sold Homes

82

180 N Smith St vs Palatine

5 DAYS ON ROCKET

-14 Days

$3,250,000

+$2.9M More

KEY TAKEAWAY

This property is $2.9M more than the Median Sold Price in Palatine, IL.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MRED
  • MLS Number: #12119741

Listing Office:

  • Office Name: Compass
  • Office Phone: (847) 616-9910
  • Listing Agent: Sharon Dolezal

IDX Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.

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Copyright © 2024 Midwest Real Estate Data LLC (MRED). All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/12/2024, 2:15:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2019$181,354$632,362
2018$188,404$606,255
2017$186,323$606,255

History based on county public records data.

Payment Calculator

$16.2K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$9,810

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-176892
5
/10
  • Stuart R. Paddock Elementary School

  • 225 W Washington St

  • 0.38 miles

  • Public District Grades KG-5

school-card-donut-176893
3
/10
  • Gray M. Sanborn Elementary School

  • 101 N Oak St

  • 0.59 miles

  • Public District Grades KG-5

school-card-donut-176894
8
/10
  • Pleasant Hill Elementary School

  • 434 W Illinois Ave

  • 1.22 miles

  • Public District Grades KG-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $76,875. The most common annual income of people living in Palatine, IL is between $35k-100k. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Living In Palatine, IL

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Palatine, IL?

The housing landscape in Palatine is diverse, offering a mix of single-family homes, apartments, and townhouses to accommodate various preferences and lifestyles. Architectural styles range from classic mid-century designs to contemporary constructions, with a significant portion of homes built in the latter half of the 20th century. The area has a healthy homeownership rate, with a substantial percentage of residents owning their homes, while the remainder of the population resides in rental properties.

Is Palatine, IL a good place to live?

Palatine prides itself on a community-centric atmosphere, where local events and festivals play a pivotal role in bringing residents together. The area is celebrated for its well-maintained parks and recreational facilities, which contribute to the town's family-friendly character. Seasonal events and community gatherings are a testament to the town's vibrant cultural identity and strong sense of togetherness.

Are things conveniently located in Palatine, IL?

Residents of Palatine benefit from a robust selection of essential services. The educational landscape includes a number of public and private schools, offering a range of options for families. Healthcare is well-supported by local clinics and hospitals that provide a variety of services from routine care to specialized treatments. The community also enjoys access to public libraries and a variety of retail and dining options that reflect the local culture. City initiatives are in place to continually improve these services to meet the evolving needs of the population.

What does the transportation in Palatine, IL look like?

Transportation in Palatine features a combination of public transit options and well-connected roadways that facilitate easy commuting and travel within the area. The community is served by a network of buses, with schedules designed to accommodate the needs of residents. While specific ride-sharing statistics are not mentioned, such services are commonly used in the area. The town also emphasizes walkability in certain districts, with ongoing efforts to enhance pedestrian and bicycle infrastructure for a more sustainable and accessible environment.

Frequently Asked Questions About 180 N Smith St

What is the listing price of this property?

The listing price of 180 N Smith St property is $3,250,000.

What type of property is this?

The property 180 N Smith St is land located in Palatine, Illinois, 60067.

Is this property for sale now?

Active Listing: 180 N Smith St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2019 is $181,354 (source: MLS/based on county public records data).

How much acreage is this property?

The property 180 N Smith St is 1.00 acres.
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Rocket HomesIllinoisCook CountyPalatine60067180 N Smith St

This home is located at 180 N Smith St in Palatine, IL and zip code 60067. This home sits on a 1.00 acre lot. It has been listed on Rocket Homes since November 07, 2024 and is currently priced at $3,250,000.

While more than 20 listings in Palatine, IL in October 2024 were sold above asking price, there were more than 18 listings sold at asking price, and more than 44 were sold below. In October 2024 in Palatine, IL there were 14.4% more homes for sale than in September 2024. The median list price of listings available in October 2024 was $334,428, while the average time on the real estate market was 19 days.

From Rocket Homes Real Estate and based on county public records data.

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