$229,900
$5K PRICE DROP

Palatine, IL 60074

Virginia Lake Neighborhood

Estimated payment $1,910/month

Total Views 25,653
2 Beds
2 Baths
1,132 Sq Ft
$203 Price per Sq Ft

Highlights

  • Waterfront
  • Clubhouse
  • L-Shaped Dining Room
  • Palatine High School Rated A
  • Corner Lot
  • Community Pool

About This Home

GREAT OPPORTUNITY to own a condo to either live in or continue to rent to current tenant! GREAT location just off Rt 53 & Rand Road but set back in the subdivision so NO road noise! Convenient to plenty of shopping and restaurants! This 2 bedroom, 2 bathroom 1st Floor CORNER unit with walkout through the sliding glass doors to the patio with a pond view! Unit has been updated throughout in 2019: Kitchen with tall maple cabinets & crown molding, granite countertops, stainless steel appliances & ceramic tile! Bathrooms also with maple cabinets, granite vanities, light fixtures & hardware! Newer carpeting, paint & light fixtures throughout rest of the unit! Interior doors also replaced with white panel doors! Expansive living room opens to dining room! Master bedroom with a walk-in closet! 2nd bedroom with hall bath! 2nd floor with laundry & storage #3! Association fees include almost everything: Heat, Water, Gas, Parking, Common Insurance, Clubhouse, Pool, Tennis & Volleyball Courts, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal! ONLY pay for Electricity! Current lease ends May 30, 2027. Continue to lease out or tenant is willing to move out sooner with a 60 day notice.

Listing Agent

Jackie Reed

Keller Williams Success Realty License #475135154 Listed on: 02/16/2026

Keller Williams Success Realty

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,547

Year Built

  • Built in 1980 | Remodeled in 2019

HOA Fees

  • $376 Monthly HOA Fees

Home Design

  • Entry on the 1st floor
  • Brick Exterior Construction
  • Frame Construction
  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,132 Sq Ft Home
  • 1-Story Property
  • Family Room
  • Living Room
  • L-Shaped Dining Room
  • Water Views
  • Intercom
  • Laundry Room

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Potential Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms

Parking

  • 2 Parking Spaces
  • Parking Available
  • Driveway
  • Parking Lot
  • Parking Included in Price
  • Unassigned Parking

Schools

  • Lake Louise Elementary School
  • Winston Campus Middle School
  • Palatine High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Lake Michigan Water

Additional Features

  • Patio
  • Waterfront

Community Details

Overview

  • Association fees include heat, water, gas, insurance, clubhouse, pool, exterior maintenance, lawn care, scavenger, snow removal
  • 8 Units
  • Manager Of Runaway Bay Association, Phone Number (630) 584-0209
  • Runaway Bay Subdivision
  • Property managed by Property Manager Techniques

Amenities

  • Clubhouse
  • Coin Laundry
  • Community Storage Space

Recreation

  • Tennis Courts
  • Community Pool

Pet Policy

  • Pets up to 35 lbs
  • Dogs and Cats Allowed

Security

  • Carbon Monoxide Detectors

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,547

Year Built

Built in 1980 | Remodeled in 2019

Lot Details

0 Sq Ft Lot

HOA Fees

$376 per month

Listing Details

  • Property Type: Residential
  • Property Type: Attached Single
  • Type Attached: Condo
  • Ownership: Condo
  • EntryLevel: 1
  • New Construction: No
  • Property Sub-Type: Condo
  • Subdivision Name: Runaway Bay
  • Year Built: 1980
  • Age: 41-50 Years
  • Built Before 1978 (Y/N): No
  • Disability Access and/or Equipped: No
  • General Information: School Bus Service,Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2019
  • Actual Status: Active
  • SomePhotosVirtuallyStaged: No
  • Special Features: VirtualTour
  • Property Sub Type: Condos
  • Stories: 1
  • Year Renovated: 2019

Interior Features

  • Basement: None
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bedrooms: 2
  • LivingArea: 1132
  • Other Equipment: Intercom, CO Detectors
  • Room Type: Walk In Closet
  • Stories Total: 1
  • Estimated Total Finished Sq Ft: 1132
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Dining Room: L-shaped
  • Total Sq Ft: 1132
  • Flooring: Carpet

Exterior Features

  • Construction Materials: Brick, Frame
  • Foundation Details: Concrete Perimeter
  • Lot Features: Corner Lot
  • Patio And Porch Features: Patio
  • Roof: Asphalt
  • View: Water
  • Waterfront: Yes

Garage/Parking

  • Parking Features: Asphalt, Unassigned, Parking Lot, Yes, Other
  • ParkingTotal: 2

Utilities

  • Sewer: Public Sewer
  • Cooling: Wall Unit(s)
  • Electric: Circuit Breakers
  • Heating: Baseboard
  • Laundry Features: Common Area
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Pets Allowed: Cats OK, Dogs OK
  • Association Fee: 376
  • Association Amenities: Coin Laundry, Storage, Pool, Tennis Court(s), Clubhouse
  • Association Fee Frequency: Monthly
  • Master Association Fee Frequency: Not Required
  • Management Company: Property Manager Techniques
  • Management Contact Name: Manager of Runaway Bay
  • Management Phone: 630-584-0209

Fee Information

  • Association Fee Includes: Heat, Water, Gas, Insurance, Clubhouse, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal

Schools

  • Elementary School: Lake Louise Elementary School
  • High School: Palatine High School
  • Middle/Junior School: Winston Campus Middle School

Lot Info

  • Lot Dimensions: Common
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • Pets Allowed (Y/N): Yes
  • Is Parking Included in Price: Yes
  • Max Pet Weight: 35

Tax Info

  • Tax Annual Amount: 3547
  • Tax Year: 2023
  • Tax Exemptions: None

Multi Family

  • Units in Building: 8

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

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
2025 $3,547 $16,808 $2,618 $14,190
2024 $3,547 $11,983 $2,205 $9,778
2023 $3,432 $11,983 $2,205 $9,778
2022 $3,432 $11,983 $2,205 $9,778
2021 $2,434 $7,495 $1,378 $6,117
2020 $2,398 $7,495 $1,378 $6,117
2019 $2,402 $8,374 $1,378 $6,996
2018 $1,986 $6,392 $1,240 $5,152
2017 $1,949 $6,392 $1,240 $5,152
2016 $1,812 $6,392 $1,240 $5,152
2015 $1,639 $5,334 $1,102 $4,232
2014 $1,619 $5,334 $1,102 $4,232
2013 $1,578 $5,334 $1,102 $4,232
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/12/2026 03/12/26 Price Changed $229,900 -2.1% $203 / Sq Ft
02/16/2026 02/16/26 For Sale $234,900 0.0% $208 / Sq Ft
09/28/2025 09/28/25 Rented $1,775 0.0% --
09/11/2025 09/11/25 Price Changed $1,775 -10.1% $2 / Sq Ft
08/10/2025 08/10/25 Price Changed $1,975 -8.1% $2 / Sq Ft
07/18/2025 07/18/25 For Rent $2,150 -- --
Source: Midwest Real Estate Data (MRED)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $145,000 First American Title Ins Co
Special Warranty Deed $127,000 Multiple
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $116,000 Unknown
Previous Owner $25,380 Stand Alone Second
Previous Owner $101,520 Purchase Money Mortgage
Source: Public Records

Source: Midwest Real Estate Data (MRED)

MLS Number: 12569861

Midwest Real Estate Data (MRED)

APN: 02-12-213-001-1093

Illinois Cook County Palatine 60074

Virginia Lake

For Sale

Condos

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.

Midwest Real Estate Data (MRED) Based on information submitted to the MLS GRID. 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.
Based on information submitted to the MLS GRID

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Jackie Reed
Listing Agent
Jackie Reed
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Keller Williams Success Realty
(224) 487-8436
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