224 E Rimini Ct

$1,500,000
Price
12
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

224 Rimini Court, Palatine, IL - 6-Unit Apartment Building Outstanding investment opportunity in a prime Palatine location. This fully remodeled 6-unit property offers 6 spacious two-bedroom, one-bathroom condos, each equipped with individual central heating and air conditioning. All units have been completely updated, featuring modern finishes, renovated kitchens and bathrooms,flooring and appliances replaced within the last few years. Each unit also includes a private balcony with views of a wooded...224 Rimini Court, Palatine, IL - 6-Unit Apartment Building Outstanding investment opportunity in a prime Palatine location. This fully remodeled 6-unit property offers 6 spacious two-bedroom, one-bathroom condos, each equipped with individual central heating and air conditioning. All units have been completely updated, featuring modern finishes, renovated kitchens and bathrooms,flooring and appliances replaced within the last few years. Each unit also includes a private balcony with views of a wooded area to the rear of the property. Building improvements include a newer roof, windows, and sliding doors, secure intercom system, individual basement storage units, and much more... The property backs to a quiet wooded area, providing privacy and outdoor space for residents. Located near schools, shopping, transportation, and parks, this turn-key asset offers strong rental potential and consistent performance in a highly desirable suburban market. Its twin 228 Rimini Ct is also available for sale and you can make it 12 unit investment. Call for more details.
  1. Listed by Galya Georgieva • Coldwell Banker Realty
    P: (630)-965-7328 C: (630)-965-7328 GALYA.GEORGIEVA.GG@GMAIL.COM

Property Details for 224 East Rimini Court

Area
Palatine
Township
Palatine
Air Conditioning Type
Central Air
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 11/17/2025 12:06 AM

Property Details for 224 East Rimini Court

StatusActive
MLS #12516020
Days on Market35
Taxes$16,360 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1984
Lot Size0.13 AC / 5,618 SF
CountyCook County

Location

Listing Courtesy of Coldwell Banker Realty
Add your commute

Building Information for 224 East Rimini Court

Stories3Residences6Year Built1984Building Size-Lot Size0.13 AC / 5,618 SF

Payment Calculator

$8,775 per month

30 year fixed, 6.28% Interest

Principal and Interest

$7,412

Property Taxes

$1,363

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 224 East Rimini Court

General Information
Location and General Information
  • Frontage Type: City Street
  • Information: None
Taxes and HOA Information
  • Association Fee Includes: Parking, Common Insurance, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal
  • Additional Parcels: Yes
Property Information
Interior Features
  • Basement Type: Partially Finished
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers
  • # Of Washers: 7
  • Heat/Ventilation: Central Heat/Indiv Controls
  • # Of Window/Ac: 0
  • # Of Refrigerators: 6
  • Washer/Dryer Lsd: No
  • # Of Dryers: 7
  • # Of Disposals: 0
  • # Of Dishwashers: 6
  • Num of Baths: 6.0
Utilities / Equipment
  • Water: Community Water
Property/Lot Information
  • Owners Association: Yes
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: No
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Other
  • Lot Dimensions: 106x53
  • Stories: 3
  • Construction: Brick, Block, Wood
  • Fire Protection: Alarm On Site
  • Roof Structure: Flat
  • Foundation Details: Concrete Perimeter
  • # Of Ranges: 6
  • Conversion: Y
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Condominium
  • Public Document Count: 0
  • Photos Count: 26
  • Deconversion: N
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Lighting/Exterior,Sidewalks,Other
  • Location: Cul De Sac
Virtual Tour/Additional Media
  • Virtual Tour: Image360+realtor
  • Virtual Tour YN: Yes
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $399.00
  • Fuel Expense: $1,297.00
  • Gross Income: $140,550.00
  • Gross Scheduled Income: $140,550.00
  • Insurance Expense: $2,192.00
  • Maintenance Expense: $.00
  • Known Encumbrances: None Known
  • Expense Year: 2025
  • Total Annual Expense Source: Actual
  • Janitor Expense: 750
  • Other Expense Source: Actual
  • Total Monthly Income: 11700
  • Net Operating Income: $117,050.00
  • Operating Expense: $23,500.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $2,259.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 224 East Rimini Court

DateEvent & SourcePriceAppreciation
Nov 11, 2025

Listed (Active)

MRED #12516020

$1,500,000
Mar 2, 2022

Sold

MRED #11284837

$725,000
Dec 10, 2021

Contingent

MRED #11284837

Dec 10, 2021

Listed (Active)

MRED #11284837

$749,900
Dec 10, 2021

Pending

MRED #11284837

Dec 10, 2021

Listed (Active)

MRED #11284837

$749,900
Dec 9, 2021

Pending

MRED #11284837

Dec 9, 2021

Contingent

MRED #11284837

Dec 9, 2021

Listed (Active)

MRED #11284837

$749,900
Jan 19, 2016

Cancelled

MRED #09062360

$539,900
Oct 13, 2015

Listed (Active)

MRED #09062360

$539,900
Oct 12, 2015

Cancelled

MRED #09041955

$539,900
Sep 17, 2015

Listed (Active)

MRED #09041955

$539,900
Oct 13, 2014

Cancelled

MRED #08744953

$520,000
Oct 4, 2014

Listed (Active)

MRED #08744953

$520,000
Feb 10, 2012

Sold

MRED #07908793

$410,000
Dec 29, 2011

Pending

MRED #07908793

Sep 21, 2011

Listed (Active)

MRED #07908793

$490,000
May 13, 2009

Expired

MRED #06895421

$650,000
May 14, 2008

Listed (Active)

MRED #06895421

$650,000
DateEvent & SourcePrice
11/11/2025

Listed (Active)

MRED #12516020

$1,500,000
03/02/2022

Sold

MRED #11284837

$725,000
12/10/2021

Contingent

MRED #11284837

12/10/2021

Listed (Active)

MRED #11284837

$749,900
12/10/2021

Pending

MRED #11284837

12/10/2021

Listed (Active)

MRED #11284837

$749,900
12/09/2021

Pending

MRED #11284837

12/09/2021

Contingent

MRED #11284837

12/09/2021

Listed (Active)

MRED #11284837

$749,900
01/19/2016

Cancelled

MRED #09062360

$539,900
10/13/2015

Listed (Active)

MRED #09062360

$539,900
10/12/2015

Cancelled

MRED #09041955

$539,900
09/17/2015

Listed (Active)

MRED #09041955

$539,900
10/13/2014

Cancelled

MRED #08744953

$520,000
10/04/2014

Listed (Active)

MRED #08744953

$520,000
02/10/2012

Sold

MRED #07908793

$410,000
12/29/2011

Pending

MRED #07908793

09/21/2011

Listed (Active)

MRED #07908793

$490,000
05/13/2009

Expired

MRED #06895421

$650,000
05/14/2008

Listed (Active)

MRED #06895421

$650,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 224 East Rimini Court

This home is within Township Hsd 211 School District.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - PK to 6
Rating
School
Distance
Lincoln Elementary School
PublicPK to 6

Walter R Sundling Jr High School
Public7 to 8

Palatine High School
Public9 to 12

Winston Campus Elementary School
PublicPK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Neighborhood Map and Transit

Similar Homes

Similar Sold Homes

224 East Rimini Court is a multi-family home for sale in Palatine, IL 60067. This property was listed for sale on November 11, 2025 by Coldwell Banker Realty, it's currently listed at $1,500,000. It has been on the market for a total of 35 days and was last sold on March 2, 2022. This listing's school districts are Township Hsd 211 School District, Palatine Central Consolidated School District 15. Nearby schools include Lincoln Elementary School, Walter R Sundling Jr High School and Palatine High School. 224 East Rimini Court is a 12-bed, 6-bath, multi-family home built in 1984.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 11/17/2025 12:06 AM. 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.