224, 228 E Rimini Ct Palatine, IL 60067
Plum Grove Village NeighborhoodEstimated payment $19,510/month
Highlights
- Cul-De-Sac
- Central Heating and Cooling System
- 2-minute walk to Heron Park
- Hunting Ridge Elementary School Rated A
About This Home
224 & 228 Rimini Court, Palatine, IL - 12-Unit Apartment Building *Outstanding investment opportunity in a prime Palatine location. This fully remodeled 12-unit property offers twelve spacious two-bedroom, one-bathroom condos, each equipped with individual central heating and air conditioning. *All units have been completely updated, featuring modern finishes, renovated kitchens and bathrooms,flooring and appliances replaced within the last few years. Each unit also includes a private balcony with views of a wooded area to the rear of the property. *Building improvements include a newer roof, windows, and sliding doors, secure intercom system, individual basement storage units, and much more... *The property backs to a quiet wooded area, providing privacy and outdoor space for residents. *Located near schools, shopping, transportation, and parks, this turn-key asset offers strong rental potential and consistent performance in a highly desirable suburban market.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $32,719
Year Built
- Built in 1984
Lot Details
- Lot Dimensions are 106x53
- Cul-De-Sac
- Additional Parcels
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Concrete Perimeter Foundation
Interior Spaces
- 3-Story Property
- Fire and Smoke Detector
Utilities
- Central Heating and Cooling System
Community Details
Overview
- Association fees include parking, insurance, exterior maintenance, lawn care, scavenger, snow removal
- 12 Units
Building Details
- Electric Expense $798
- Fuel Expense $2,595
- Insurance Expense $4,384
- Maintenance Expense $19,697
- Other Expense $19,873
- Water Sewer Expense $4,518
- Operating Expense $66,387
- Gross Income $281,100
- Net Operating Income $214,713
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | 
|---|---|---|---|---|
| 10/28/2025 10/28/25 | For Sale | $3,200,000 | -- | -- | 
Source: Midwest Real Estate Data (MRED)
MLS Number: 12506098
 
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