Moats Office Properties
Listed by Moats Office Properties
Unpriced
650 N. First Bank Drive
Details
APN 02-14-100-075-0000
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 4,029
Occupancy 100%
Tenancy Multi
Lease Type Modified
Broker Co-Op Yes
Class B
Year Renovated 2025
Buildings 1
Stories 1
Acreage 0.690
Zoning OT, Palatine
Parking Spaces 4 per 1,000 sq ft
Investment Type Owner/User
Ownership For sale by owner
Sale Condition For sale by owner
Office | 4,029 SqFt
Marketing description
650 N. First Bank Drive presents a rare opportunity to acquire a strategically positioned suburban office asset in the heart of Palatine’s established corporate corridor. Located just east of IL-Route 53, the property benefits from immediate regional connectivity and strong accessibility to the greater Northwest suburban Chicago market.
The building offers a highly functional layout designed to support a range of professional, medical, and service-oriented users. Its efficient floor plates, generous surface parking, and professional exterior presence create an attractive and practical environment for both tenants and owner-users.
The surrounding business park setting provides a quiet, campus-style atmosphere while maintaining close proximity to retail, dining, and everyday conveniences. This offering represents a compelling acquisition opportunity for investors seeking stable suburban fundamentals with value-enhancement potential, or for owner-users pursuing long-term control of their real estate in a highly accessible, business-oriented location.
Investment highlights
Strategic Regional Access: Immediate proximity to IL-53 provides seamless north-south connectivity throughout the Northwest suburbs and convenient access to I-90 and other major transportation corridors, enhancing tenant reach and long-term desirability.
Established Business Environment: Situated within a mature office and professional services corridor, surrounded by financial institutions, medical providers, and corporate users that reinforce long-term tenant demand.
Flexible Occupancy Profile: Well-positioned for multi-tenant leasing, partial owner-occupancy, or full building user acquisition, offering adaptability to a range of investment strategies.
Strong Suburban Market Fundamentals: Palatine continues to attract professional service and medical users seeking high-quality suburban space with accessibility, parking, and cost advantages relative to urban alternatives.
On-Site Parking & Accessibility: Ample surface parking and efficient ingress/egress support ease of access for employees, clients, and visitors — a critical driver in suburban office performance.
Value-Enhancement Opportunity: The asset presents the potential for lease-up, cosmetic modernization, or strategic repositioning to capitalize on continued demand for well-located suburban office product.
Listing Contacts
Moats Office Properties
Listed by Moats Office Properties
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