523 E Colfax St Palatine, IL 60074
Downtown Palatine NeighborhoodEstimated payment $2,255/month
Total Views
1,687
2
Beds
1
Bath
1,064
Sq Ft
$305
Price per Sq Ft
Highlights
- Ranch Style House
- Wood Flooring
- Living Room
- Winston Campus Elementary School Rated A-
- Patio
- Laundry Room
About This Home
Welcome to this sunny and inviting 2-bedroom, 1-bath ranch, nestled in the heart of Palatine's beloved Arthur T. McIntosh & Co.'s Fair Grounds Park-a quiet, tree-lined neighborhood steeped in history and community charm. This beautifully maintained home offers the ease of single-level living, combining timeless character with smart, modern updates. Step inside to discover a freshly painted interior, a bright and open layout, and gleaming hardwood floors throughout the living room and bedrooms. The eat-in kitchen features luxury vinyl flooring, stainless steel appliances-including a Kenmore refrigerator, Maytag dishwasher, General Electric Gas Range, and LG front-loading washer and dryer-and a high-end Delta touch-sensor faucet for added convenience. Enjoy outdoor living in the spacious, fully fenced backyard-perfect for entertaining, gardening, or relaxing in privacy. A 1.5-car detached garage offers additional storage and parking flexibility. The large lot also provides room for future expansion. Whether you're a first-time homebuyer, downsizing, or seeking a smart investment, this property offers rare value in one of Palatine's most desirable and walkable neighborhoods-just minutes from parks, shopping, dining, and transportation. Key Features: 2 Bedrooms, 1 Full Bath Stainless Steel Appliances: Kenmore Refrigerator, Maytag Dishwasher, LG Washer & Dryer Delta Touch-Sensor Kitchen Faucet Hardwood Floors in Bedrooms & Living Room Luxury Vinyl Flooring in Kitchen Freshly Painted Interior 1.5-Car Detached
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,236
Year Built
- Built in 1956
Lot Details
- 9,801 Sq Ft Lot
- Lot Dimensions are 69.5 x 138 x 69.3 x 138
- Wood Fence
Parking
- 1.5 Car Garage
- Driveway
- Parking Included in Price
Home Design
- Ranch Style House
- Brick Exterior Construction
- Asphalt Roof
- Concrete Perimeter Foundation
Interior Spaces
- 1,064 Sq Ft Home
- Family Room
- Living Room
- Dining Room
Flooring
- Wood
- Vinyl
Bedrooms and Bathrooms
- 2 Bedrooms
- 2 Potential Bedrooms
- Bathroom on Main Level
- 1 Full Bathroom
Laundry
- Laundry Room
- Laundry in Kitchen
- Gas Dryer Hookup
Outdoor Features
- Patio
Schools
- Virginia Lake Elementary School
- Winston Campus Middle School
- Palatine High School
Utilities
- Central Air
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
- Ranch
Listing and Financial Details
- Homeowner Tax Exemptions
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $5,035 | $21,000 | $5,880 | $15,120 |
| 2023 | $5,035 | $21,000 | $5,880 | $15,120 |
| 2022 | $5,035 | $21,000 | $5,880 | $15,120 |
| 2021 | $5,533 | $20,367 | $3,430 | $16,937 |
| 2020 | $5,523 | $20,367 | $3,430 | $16,937 |
| 2019 | $5,521 | $22,681 | $3,430 | $19,251 |
| 2018 | $5,021 | $19,591 | $3,185 | $16,406 |
| 2017 | $4,944 | $19,591 | $3,185 | $16,406 |
| 2016 | $4,847 | $19,591 | $3,185 | $16,406 |
| 2015 | $4,387 | $16,901 | $2,940 | $13,961 |
| 2014 | $4,350 | $16,901 | $2,940 | $13,961 |
| 2013 | $4,221 | $16,901 | $2,940 | $13,961 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/18/2025 05/18/25 | Pending | -- | -- | -- |
| 05/16/2025 05/16/25 | For Sale | $325,000 | +78.8% | $305 / Sq Ft |
| 06/15/2020 06/15/20 | Sold | $181,800 | 0.0% | $171 / Sq Ft |
| 05/06/2020 05/06/20 | Pending | -- | -- | -- |
| 05/06/2020 05/06/20 | Off Market | $181,800 | -- | -- |
| 05/02/2020 05/02/20 | For Sale | $179,900 | -- | $169 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $182,000 | Precision Title Company | |
| Quit Claim Deed | -- | Attorney | |
| Warranty Deed | $200,500 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $175,437 | FHA | |
| Previous Owner | $9,000 | Credit Line Revolving | |
| Previous Owner | $180,450 | Purchase Money Mortgage |
Source: Public Records
Similar Homes in Palatine, IL
Source: Midwest Real Estate Data (MRED)
MLS Number: 12362364
APN: 02-14-400-041-0000
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