Elizabeth Goodchild
Realty of America
(224) 479-1826
480 Total Sales
11 in Downtown Palatine
$247K - $575K Price Range
523 E Colfax St Palatine, IL 60074
Downtown Palatine NeighborhoodEstimated Value: $324,000 - $360,877
2
Beds
1
Bath
1,064
Sq Ft
$323/Sq Ft
Est. Value
Highlights
- Ranch Style House
- Wood Flooring
- Patio
- Palatine High School Rated A
- 1.5 Car Detached Garage
- Living Room
About This Home
As of July 2025Welcome 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
Last Agent to Sell the Property
Baird & Warner License #475124214 Listed on: 05/16/2025
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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 Detached Garage
- Parking Available
- Garage Door Opener
- 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 on main level
- 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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 16, 2025
Closed on
Jul 9, 2025
Sold by
Bought by
Seller's Agent
Karen Pawlak
Baird & Warner
Buyer's Agent
Helen Oliveri
Helen Oliveri Real Estate
List Price
$325,000
Sold Price
$325,000
Views
48
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$18,719
Avg. Annual Appreciation
5.22%
Original Mortgage
$281,000
Outstanding Balance
$278,330
Interest Rate
6.88%
Mortgage Type
New Conventional
Estimated Equity
$65,389
Purchase Details
Listed on
May 2, 2020
Closed on
Jun 11, 2020
Sold by
Bought by
Seller's Agent
Mario Bilotas
Four Daughters Real Estate
Buyer's Agent
Adriana Laura Cook
eXp Realty
List Price
$179,900
Sold Price
$181,800
Premium/Discount to List
$1,900
1.06%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.11%
Original Mortgage
$175,437
Interest Rate
2.87%
Mortgage Type
FHA
Purchase Details
Closed on
Oct 12, 2018
Sold by
Bought by
Purchase Details
Closed on
Apr 10, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,450
Interest Rate
5.78%
Mortgage Type
Purchase Money Mortgage
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Downtown Palatine, IL
-
Elizabeth Goodchild
-
Caroline Starr
Caroline Starr
@properties Christie's International Real Estate
(224) 801-3051
365 Total Sales
8 in Downtown Palatine
$215K - $401K Price Range
-
Tom Campone
Tom Campone
Keller Williams ONEChicago
(725) 228-7482
198 Total Sales
1 in Downtown Palatine
$512,000 Price
-
Brian Wacht
BW
Brian Wacht
Kale Realty
(224) 258-0319
75 Total Sales
4 in Downtown Palatine
$302K - $640K Price Range
-
Mari Van Meter
Mari Van Meter
Berkshire Hathaway HomeServices American Heritage
(630) 895-7516
34 Total Sales
1 in Downtown Palatine
$340,000 Price
-
Marla Schneider
Marla Schneider
Coldwell Banker Realty
(224) 258-0591
254 Total Sales
2 in Downtown Palatine
$90K - $125K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $325,000 | None Listed On Document | ||
| $182,000 | Precision Title Company | ||
| -- | Attorney | ||
| $200,500 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $281,000 | ||
| Previous Owner | $175,437 | ||
| Previous Owner | $180,450 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 07/15/2025 07/15/25 | Sold | $325,000 | 0.0% | $305 / Sq Ft | |
| 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 | View Prior Sale |
| 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)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2025 | $5,236 | $27,000 | $6,860 | $20,140 |
| 2024 | $5,236 | $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
Agents Affiliated with this Home
-
Karen Pawlak
Seller's Agent in 2025
Karen Pawlak
Baird Warner
(847) 323-5281
4 in this area
43 Total Sales
-
Helen Oliveri
Buyer's Agent in 2025
Helen Oliveri
Helen Oliveri Real Estate
(847) 967-0022
3 in this area
347 Total Sales
-
Mario Bilotas
Seller's Agent in 2020
Mario Bilotas
Four Daughters Real Estate
(847) 910-5022
9 in this area
166 Total Sales
-
Adriana Laura Cook
Buyer's Agent in 2020
Adriana Laura Cook
eXp Realty
(312) 497-2044
62 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12362364
APN: 02-14-400-041-0000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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