Palatine, IL Commercial Real Estate for Lease and Sale

Explore 40 listings of Palatine commercial real estate to find the best space for your business.

Gateway Center

220 North Smith Street, Palatine, IL
Property

Office

101,827 SF
Availability

6 Spaces

29,647 SF
Year Built

2002
For Lease

$28.90/SF/YR
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Northwest Shopping Center

423 - 585 E. Dundee Road, Palatine, IL
Property

Mixed Use

101,196 SF
Availability

7 Spaces

10,188 SF
For Lease Contact for pricing
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600 N First Bank Drive

600 N First Bank Drive, Palatine, IL
Property

Office

17,304 SF
Availability

1 Space

7,000 SF
Year Built

1960
For Lease

$12.50/SF/YR
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632 W Colfax St, Palatine

632 W Colfax St, Palatine, IL
Property

Industrial

4,737 SF
Year Built

1970
For Sale

$825,000
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Office Retail Industrial

Retail Industrial Land
The Shops of Palatine

948 Dundee Rd, Palatine, IL
Property

Retail

4,410 SF
Availability

2 Spaces

4,410 SF
For Lease Contact for pricing
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503 S. Vermont

503 S. Vermont, Palatine, IL
Property

Industrial

60,000 SF
Availability

1 Space

7,300 SF
For Lease

$11.00/SF/YR
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English Valley Business Center

237-285 W. Dundee Road, Palatine, IL
Property

Mixed Use

20,944 SF
Availability

1 Space

4,000 SF
For Lease Contact for pricing
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90-124 W Northwest Hwy

90-124 West Northwest Hwy, Palatine, IL
Property

Retail

16,000 SF
Availability

3 Spaces

3,563 SF
Year Built

2006
For Lease

$16.00 - $18.50/SF/YR
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1990 E. Algonquin Road

1990 E. Algonquin Road, Schaumburg, IL
Property

Office

25,484 SF
Availability

4 Spaces

10,290 SF
Year Built

1986
For Lease

$14.50/SF/YR
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Downtown Palatine Village Square

32-60 W Palatine Road, Palatine, IL
Property

Retail

21,819 SF
Availability

2 Spaces

2,924 SF
Year Built

1975
For Lease

$24.00 - $27.00/SF/YR
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800 East Northwest Hwy

800 East Northwest Hwy, Palatine, IL
Property

Office

136,603 SF
Availability

48 Spaces

83,922 SF
Year Built

1973
For Lease

$3.29 - $17.00/SF/YR
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1720 N Rand Rd

1720 N Rand Rd, Palatine, IL
Property

Retail

12,689 SF
Year Built

1976
For Sale

Subject To Offer
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110 North Brockway Street

110 North Brockway Street, Palatine, IL
Property

Office

40,000 SF
Availability

1 Space

4,916 SF
Year Built

2004
For Lease

$22.75 - $23.75/SF/YR
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Dealership & Retail Strip Center For Sale

2015 N Rand Rd, Palatine, IL
Property

Retail

53,000 SF
Availability

2 Spaces

69,100 SF
Year Built

1986
For Lease Contact for pricing
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4880 W Euclid Ave

4880 W Euclid Ave, Palatine, IL
Property

Retail

7,223 SF
Availability

1 Space

1,831 SF
For Lease Contact for pricing
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2000-2060 East Algonquin Road

2000-2060 East Algonquin Road, Schaumburg, IL
Property

Office

100,500 SF
Availability

8 Spaces

30,755 SF
Year Built

1981
For Lease

$15.50/SF/YR
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Regency Plaza

Quentin Rd & Euclid Ave, Palatine, IL
Property

Retail
Availability

13 Spaces

36,516 SF
For Lease Contact for pricing
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Office Redevelopment Opportunity in Palatine, IL

1530-1540 E Dundee Rd, Palatine, IL
Property

Other
For Sale

$4,700,000
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1703-1715 N. Rand Road

1703-1715 N. Rand Road, Palatine, IL
Property

Retail

3,314 SF
Availability

3 Spaces

3,314 SF
For Lease

$1,805.00 - $3,020.00/MO
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800 East Northwest Hwy

800 East Northwest Hwy, Palatine, IL
Property

Office

136,603 SF
Availability Contact for availability
Year Built

1973
For Lease Contact for pricing
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Dealership & Retail Strip Center For Sale

2015 N Rand Rd, Palatine, IL
Property

Retail

53,000 SF
Year Built

1986
For Sale

Subject To Offer
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4949 Euclid Ave

4949 Euclid Ave, Palatine, IL
Property

Office

11,440 SF
Availability

2 Spaces

6,000 SF
Year Built

1992
For Lease

$18.00 - $21.00/SF/YR
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Palatine Plaza

211 East Northwest Hwy, Palatine, IL
Property

Retail

137,187 SF
Availability

4 Spaces

19,874 SF
Year Built

1968
For Lease Contact for pricing
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218-220 N Northwest

218-220 N Northwest, Palatine, IL
Property

Retail

3,233 SF
Availability

1 Space

3,233 SF
For Lease Contact for pricing
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237-285 W Dundee Rd

237-285 W Dundee Rd , Palatine, IL
Property

Retail

5,032 SF
Availability

2 Spaces

5,032 SF
For Lease Contact for pricing
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619-631 South Vermont Street

619-631 South Vermont Street, Palatine, IL
Property

Industrial

36,784 SF
Availability

1 Space

5,450 SF
Year Built

1971
For Lease

$11.50/SF/YR
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Quentin Corners

801 North Quentin Road, Palatine, IL
Property

Retail

42,569 SF
Availability

4 Spaces

5,184 SF
For Lease Contact for pricing
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Uptown 500

502 W Dundee Rd, Wheeling, IL
Property

Retail

12,000 SF
Availability

2 Spaces

5,673 SF
For Lease Contact for pricing
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1606 W Colonial Pky, Palatine, IL

1606 W Colonial Pky, Inverness, IL
Property

Office

6,060 SF
Availability

3 Spaces

6,060 SF
For Lease

$16.00/SF/YR
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318-320 W. Colfax St.

318-320 W. Colfax St., Palatine, IL
Property

Industrial

10,000 SF
Availability

2 Spaces

10,000 SF
For Lease

$14.00/SF/YR
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Northwest Shopping Center

425-569 E Dundee Rd, Palatine, IL
Property

Retail

18,590 SF
Availability

9 Spaces

16,988 SF
For Lease Contact for pricing
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Foxfire Plaza

2070 North Rand Road Palatine, Palatine, IL
Property

Retail

13,873 SF
Availability

2 Spaces

13,873 SF
For Lease Contact for pricing
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150 Sellstrom Dr Palatine

150 Sellstrom Dr Palatine, Palatine, IL
Property

Industrial

153,043 SF
For Sale Contact for pricing
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Palatine Corporate Center - Building 2

150 Sellstrom Drive, Palatine, IL
Property

Industrial

153,043 SF
Availability

1 Space

153,043 SF
Year Built

2022
For Lease Contact for pricing
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Deer Grove Centre

615 East Dundee Road, Palatine, IL
Property

Retail

357,644 SF
Availability

8 Spaces

42,518 SF
Year Built

1997
For Lease Contact for pricing
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20140-20152 N Rand Rd (Rt 12)

20140-20152 N Rand Rd, Deer Park, IL
Property

Land
For Sale

$1,900,000
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707-717 S. VERMONT ST

715 Vermont St, Palatine, IL
Property

Industrial

44,120 SF
Availability

1 Space

8,000 SF
For Lease

$12.00/SF/YR
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550 W Colfax St

550 W Colfax St, Palatine, IL
Property

Industrial

10,448 SF
Year Built

2022
For Sale

Call For Info
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653 S. Vermont St

653 S. Vermont St, Palatine, IL
Property

Industrial

44,000 SF
Availability

1 Space

4,000 SF
For Lease

$10.50/SF/YR
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1960 Rand Road

1960 Rand Road, Palatine, IL
Property

Retail

5,850 SF
Year Built

2008
For Sale

$1,199,000
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.

Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Palatine commercial real estate market incorporates 575,821 square feet of office space across 10 buildings.

Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis.
Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Palatine commercial real estate market includes 767,433 square feet of retail space in a variety of settings.
Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Palatine market, there is a total of 516,175 square feet of industrial property.

The listing inventory in Palatine incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Palatine is represented by Retail space, which accounts for 234,033 square feet of available listings. Industrial space available in Palatine adds up to 187,793 square feet.

Meanwhile, most of the listings of commercial property for sale in Palatine are in the Retail category.

The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.

The average rent for commercial real estate space listed for lease in Palatine is $16.56 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Palatine can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset.

Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Palatine, depending on the property type you are interested in.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.

Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!

The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $22 per square foot. In particular, the property type commanding the highest lease rates in Palatine was Retail space.

The average size of a commercial property in Palatine depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:

In Palatine, the average size of an office property is 63,981 square feet.
Retail properties here incorporate an average of 45,144 square feet.
Industrial space in Palatine is in buildings that are, on average 57,353 square feet in size.

Palatine, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Palatine currently add up to 616,264 square feet. The market offers 10 active office listing(s), which amount to 178,590 square feet and account for 29% of commercial spaces on the market. Local retail availability includes 234,033 square feet across 15 retail space(s). Industrial space for rent opportunities in Palatine amount to 189,453 square feet across a total of 7 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	10	178,590
Retail	15	234,033
Industrial	7	189,453
Other	2	14,188

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Palatine, IL. Currently, there is 239,767 square feet of commercial property for sale here , which includes , 3 retail investment opportunity listing(s) , and 3 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Retail	3	71,539
Industrial	3	168,228

Palatine, IL Commercial Real Estate for Lease and Sale

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Palatine, IL?

What factors affect the price of commercial real estate in Palatine, IL?

What is the average rent for commercial space in Palatine, IL?

What are the best areas for commercial real estate in Palatine, IL?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Palatine, IL?

Palatine, IL Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

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