Listed by SURMOUNT
Unpriced
Redevelopment Opportunity
Details
Property Type Land
Sub Type Commercial
Acreage 0.700
Ownership Fee Simple
Land | 0.7 acres
Marketing description
Surmount is pleased to present the exclusive listing for a vacant building located at 1207 West Northwest Highway, Palatine, IL 60067. The site was formerly operated by a national QSR chain and includes a drive-thru. The property consists of roughly 2,282 square feet of building space on an estimated 0.78-acre parcel of land, situated along one of the northwest suburbs' highest-traffic commercial corridors.
Investment highlights
- Second-Generation Restaurant Conversion | This former restaurant offers an attractive opportunity for operators or investors to leverage existing infrastructure, including a commercial-grade kitchen, plumbing, and established dining layout. The property is well-positioned for immediate lease-up or a retrofit, significantly reducing upfront capital expenditures and accelerating time to market.
- Affluent, Highly Educated Consumer Base | The surrounding trade area features some of the strongest demographics in the Chicago suburbs, with average household incomes of $149,764 within three miles and $144,728 within five miles. Over 52% of residents within one mile hold a bachelor's degree or higher. Total specified consumer spending reaches $1.1B within three miles and $2.9B within five miles, reflecting an exceptionally deep and active retail market.
- Dense Multifamily and Residential Demand | The property benefits from immediate proximity to Albion on Northwest, a 301-unit luxury multifamily community offering studio through two-bedroom residences with modern finishes. This concentration of renters within walking distance creates a built-in, high-frequency customer base for food service, convenience retail, and personal care tenants.
- Strong Retail Synergy | Deer Grove Centre | The property is situated near Deer Grove Centre, a major power center anchored by Target, Home Depot, Hobby Lobby, and HomeGoods, alongside TJ Maxx, Petco, Aldi, and Ross. Additional national tenants including Chipotle, Starbucks, Jewel-Osco, McDonald's, Dunkin', and 7-Eleven reinforce the corridor's role as a convenience-driven destination with steady daily traffic.
Listing Contacts
Listed by SURMOUNT
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$--
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Zoning
B-2 CommercialGeneral CommercialGeneral Business
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 135 uses
View all 135 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
