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.
Property Details
Price:
$375,000
MLS #:
MRD12683694
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Neighborhood:
palatine
Listed Date:
Sep 2, 2026
Total Sq Ft:
3,778
Lot Size:
9,428 sqft / 0.23 acres (approx)
Year Built:
1989
See this Listing
Schools
Interior
Cooling
Central Air, Central Individual
Flooring
Carpet, Tile
Exterior
Construction Materials
Brick
Roof
Composition
Stories
1
Financial
Tax Year
2025
Taxes
$23,469
Map
Community
- Address500 N Plum Grove Road Palatine IL
- CityPalatine
- CountyCook
- Zip Code60067
Market Summary
Current real estate data for Commercial in Palatine as of Oct 09, 2026
7
Commercial Listed
139
Avg DOM
$1,479,129
Avg List Price
Property Summary
- 500 N Plum Grove Road Palatine IL is a Commercial for sale in Palatine, IL, 60067. It is listed for $375,000
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500 N Plum Grove Road
Palatine, IL


