Residential Land with Home for Sale in Palatine, Illinois

Builders & Developers !! Investors!! This is a must-see parcel !! Located in Palatine Knolls, this property boasts over an acre of mature trees and picturesque landscape, Perfect for designing your dream build or develop two new homes amidst tranquil surroundings. The 45,564 sq. ft. lot is currently zoned R-1 and can easily convert to R-2 for subdivision into two residential lots. Situated on an interior tree-lined street in a premier location surrounded by upscale custom homes, this fabulous parcel of prime Palatine real estate offers endless possibilities for builders and developers. City water and sewer are available on the south side of Gilbert, with the current home already connected to the city sewer, gas and electric. The proposed subdivision could result in two half-acre lots, each measuring 77'x296' (22,856+/-sq ft) and 77'x296'x90'x296' (24,811+/-sq ft). Highly sought-after location just blocks away from acclaimed Fremd High School District and Pleasant Hill Elementary. With the Metra Station only 1.5 miles away and quick access to Routes 53 and I90, you can easily reach O'Hare Airport, Downtown Chicago, local health services, shopping centers, restaurants, and Forest Preserves in every direction. Historic Downtown Palatine, just 1.5 miles away, offers a variety of shopping and dining options, as well as Farmers Markets and Town Festivals. Your family will be sure to love the close proximity to The Birchwood Rec Center with outdoor pool, picnic shelter, gymnasium, football and baseball/softball fields, tennis and basketball courts, playground, pre-school and much more. The nearby Palatine Senior Center offers programs and services which support Senior's and their families. Harper College, a renowned public community college, is also conveniently close. If it's outdoor enjoyment you seek, you will find Deer Grove Forest Preserve (3.5 miles), Palatine Prairie & Margreth Riemer Reservoir Park (1.4 miles). LOCATED IN PALATINE'S GOLDEN CORRIDOR - Don't miss the opportunity to polish up this diamond in the rough or re-zone and develop!