1551 E Olive Street Palatine IL 60074 MLS #MRD12705014

1551 E Olive Street
Palatine, IL, 60074
$858,000
5 Beds
4 Baths
4,119 SqFt
0.32 Acres
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MLS #MRD12705014 image #0
*** MULTIPLE OFFERS RECEIVED*** Sellers respectfully request highest and best by 2PM Monday 7/20. Stunning move-in-ready luxury meets exceptional space and design in this beautifully updated Palatine home offering over 4,100 square feet of refined living on an oversized premium one-third-acre lot. Built in 2014, this 5-bedroom, 3.5-bath home with a full basement and expanded 3-car tandem garage delivers the ideal blend of space, functionality, and newer-construction appeal. Step inside to a freshly painted, true open-concept layout featuring gorgeous hardwood floors, a formal living room, dining room, private main-level office, and a warm, inviting family room anchored by a fireplace. The heart of the home is the stunning kitchen, complete with rich cabinetry, quartz countertops, stainless steel appliances, double wall ovens, a cooktop with hood, a large island with seating and storage, a walk-in pantry, and a bright eating area that flows seamlessly into the family room. Upstairs, the expansive primary suite offers a private sitting area, a large walk-in closet, and a spa-like bath with dual vanities, a soaking tub, and a separate shower. Generously sized secondary bedrooms provide excellent flexibility for family, guests, or work-from-home needs. The full unfinished basement offers incredible future potential and is already roughed in for a fourth full bath. The expanded tandem garage is ideal for car enthusiasts, hobbyists, storage, workshop space, or even a golf simulator setup, and includes a 220V outlet for a possible heater or EV charger. An additional parking pad provides room for 4-6 more vehicles. Enjoy outdoor living on the massive maintenance-free deck with a built-in natural gas line overlooking the large backyard. Recent updates include a new roof, new gutters, and a full interior repaint. This is a rare opportunity to own not just a beautiful home, but a prime piece of one of Palatine’s fastest-growing and most dynamic areas, bringing future growth, entertainment, dining, and long-term value right to your doorstep. Convenient access to shopping, restaurants, major expressways, Metra, Salt Creek Park District, and the highly sought-after Twin Lakes Recreation Area further enhances the incredible lifestyle this location offers.

Property Details

Price:
$858,000
MLS #:
MRD12705014
Status:
Active Under Contract
Beds:
5
Baths:
4
Type:
Single Family
Neighborhood:
palatine
Listed Date:
Jul 14, 2026
Finished Sq Ft:
4,119
Year Built:
2014
PalatinePalatineJane Addams Elementary SchoolWinston Campus Middle SchoolPalatine High School

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Schools

School District:
211
Elementary School:
Jane Addams Elementary School
Middle School:
Winston Campus Middle School
High School:
Palatine High School

Interior

Appliances
Range, Dishwasher, Refrigerator
Bathrooms
3 Full Bathrooms, 1 Half Bathroom
Cooling
Central Air
Fireplaces Total
1
Flooring
Hardwood
Heating
Natural Gas, Forced Air
Interior Features
Walk-In Closet(s)
Laundry Features
Main Level, In Unit

Exterior

Construction Materials
Brick, Cedar
Garage Spaces
3
Parking Features
Asphalt, Garage Door Opener, Yes, Garage Owned, Attached, Garage
Parking Spots
3
Parking Total
3
Patio And Porch Features
Deck
Roof
Asphalt

Financial

HOA Fee Frequency
Not Applicable
HOA Includes
None
Tax Year
2024
Taxes
$20,921

Map

Community

Market Summary

Current real estate data for Single Family in Palatine as of Jul 24, 2026
125
Single Family Listed
85
Avg DOM
281
Avg $ / SqFt
$625,141
Avg List Price

Property Summary

    1551 E Olive Street Palatine IL is a Single Family for sale in Palatine, IL, 60074. It is listed for $858,000 and features 5 beds, 4 baths, and has approximately 4,119 square feet of living space, and was originally constructed in 2014. The current price per square foot is $208. The average price per square foot for Single Family listings in Palatine is $281. The average listing price for Single Family in Palatine is $625,141.

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