523 E Colfax Street
Palatine, IL 60074
- 2 beds
- 1 bath
- 1,064 sqft
- 9,801 sqft lot
- $305 per sqft
- 1956 build
- – on site
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
Last checked:
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Last updated May 19, 2025
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MLS# 12362364 —
The Building
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Year Built:1956
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Rebuilt:No
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New Construction:false
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New Construction:No
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Construction Materials:Brick
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Architectural Style:Ranch
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Model:RANCH
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Roof:Asphalt
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Basement:None
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Foundation Details:Concrete Perimeter
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Patio And Porch Features:Patio
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Disability Access:No
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Living Area Source:Assessor
Interior
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Room Type:No additional rooms
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Rooms Total:5
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Interior Features:1st Floor Bedroom, 1st Floor Full Bath
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Laundry Features:Main Level, Gas Dryer Hookup, In Unit, In Kitchen
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Flooring:Hardwood
Room Dimensions
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Living Area:1064
Location
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Directions:Palatine Road West to Rohlwing Road North to Lincoln West to North Ashland to East Colfax to 523 E. Colfax Street
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Location:8002
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Location:6545
The Property
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Parcel Number:02144000410000
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Property Type:Residential
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Location:A
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Lot Size Dimensions:69.5 X 138 X 69.3 X 138
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Lot Size Acres:0.225
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Rural:N
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Waterfront:false
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Additional Parcels:false
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Fencing:Fenced, Wood
Listing Agent
- Contact info:
- Agent phone:
- (847) 323-5281
- Office phone:
- (847) 392-1855
Taxes
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Tax Year:2023
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Tax Annual Amount:5236
Beds
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Bedrooms Total:2
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Bedrooms Possible:2
Baths
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Baths:1
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Full Baths:1
The Listing
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Virtual Tour Unbranded:
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Special Listing Conditions:None
Heating & Cooling
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Heating:Natural Gas
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Cooling:Central Air
Utilities
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Sewer:Public Sewer
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Water Source:Lake Michigan
Schools
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Elementary School:Virginia Lake Elementary School
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Elementary School District:15
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Middle Or Junior School:Winston Campus Middle School
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Middle Or Junior School District:15
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High School:Palatine High School
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High School District:211
The Community
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Association Fee Includes:None
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Association Fee Frequency:Not Applicable
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Master Assoc Fee Frequency:Not Required
Parking
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Parking Total:5.5
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Parking Features:Asphalt, Garage Door Opener, On Site, Garage Owned, Detached, Driveway, Owned, Garage
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Garage Spaces:1.5
Monthly cost estimate
Asking price
$325,000
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$1,740
|
| Taxes | $436 |
| Insurance | $89 |
| Utilities | $137 See report |
| Total | $2,402/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/19/25
May 19, 2025
|
Sold Subject To Contingencies | MRED | $325,000 | |
|
5/16/25
May 16, 2025
|
Listed / Active | MRED | $325,000 | 78.8% (16.0% / YR) |
|
6/15/20
Jun 15, 2020
|
MRED | $181,800 |
43% of nearby similar homes sold for over asking price
Similar homes that sold in bidding wars went $11k above asking price on average, but some went as high as $63k over asking price.
