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200 W Northwest Hwy
Palatine, IL 60067
Cvs/pharmacy · Retail Property For Sale
Investment Highlights
- • 13,000 SF former CVS building on 1.36 acres
- • Flexible reuse potential for retail, medical, fitness, grocery, automotive, service, or specialty users
- • Rare freestanding building availability in a tight corridor
- • Signalized hard corner at Northwest Highway (US 14) & Smith Road
- • Prime redevelopment opportunity for national or regional tenants
- • Minutes from downtown Palatine and the Metra station
Executive Summary
200 W. Northwest Highway presents a rare redevelopment or reuse opportunity in the heart of Palatine. Positioned at the signalized intersection of Northwest Highway (US 14) and Smith Road, this former CVS sits on a generous 1.36 acre corner with excellent visibility, strong traffic counts, and multiple access points. The property includes an existing drive through lane, making it highly adaptable for a wide range of retail, medical, service, or food oriented users.
Palatine is one of Chicago’s most established northwest suburbs, known for its stable residential base, strong incomes, and diverse commercial corridors. The site benefits from immediate proximity to dense rooftops, commuter traffic, and the broader Northwest Highway retail and service corridor. With limited availability of large, freestanding buildings in the area, this property offers exceptional flexibility for both owner users and developers seeking a high profile suburban corner.
Whether reusing the existing 13,000 SF building or pursuing a ground up redevelopment, the site’s size, access, and visibility make it a standout opportunity in a supply constrained market.
Palatine is one of Chicago’s most established northwest suburbs, known for its stable residential base, strong incomes, and diverse commercial corridors. The site benefits from immediate proximity to dense rooftops, commuter traffic, and the broader Northwest Highway retail and service corridor. With limited availability of large, freestanding buildings in the area, this property offers exceptional flexibility for both owner users and developers seeking a high profile suburban corner.
Whether reusing the existing 13,000 SF building or pursuing a ground up redevelopment, the site’s size, access, and visibility make it a standout opportunity in a supply constrained market.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
13,057 SF
Building Class
B
Year Built
2004
Price
$2,600,000
Price Per SF
$199.13
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
1.43 AC
Zoning
N/Av
Parking
55 Spaces (4.21 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Drive Thru
Property Taxes
| Parcel Number | 02-15-200-037-0000 | Improvements Assessment | $237,227 |
| Land Assessment | $192,524 | Total Assessment | $429,751 |
Property Taxes
Parcel Number
02-15-200-037-0000
Land Assessment
$192,524
Improvements Assessment
$237,227
Total Assessment
$429,751
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