500 E Spruce Dr, Palatine, IL 60074 Property Records

Cook County property record for 500 E Spruce Dr, Palatine, IL 60074

Property Summary

Property Type	Apartments (5+ Units)
Details	11 bd · 6 ba · 5,859 sqft · built 1983
Lot Size	0.061 acres (2,666 sqft)
Owner	Company Name on Record
Last Sale	$595,000 (Jul 2007)
Tax Bill	$18,059 (2023)
Deeds & Mortgages	Dec 2021 Mortgage Mar 2022 Second Mortgage + 2 more
Flood Zone	Zone X (minimal risk)
APN	`02-02-400-038`

Property Details

APN / Parcel Number

Primary APN	`02-02-400-038`
Alternative APN	`02-02-400-038-0000`

Interior

Bedrooms	11 Beds
Full Baths	6 Baths
Total Rooms	29 Rooms
Units	12 Units
Stories	3 Stories
Building Area	5,859 sqft Living Area

Exterior

Year Built	Built 1983
Effective Year Built	Effective 1983
Architectural Style	Multi-Family
Exterior Material	Brick/Stone
Construction Type	Masonry / Concrete Block
Foundation Type	Slab (Mat/Raft)
Roof Material	Tar & Gravel
Lot Area	2,666 sqft (0.061 acres)

Utilities, Heating & Cooling

Cooling System	HVAC
Heating System	HVAC

Location & Zoning

Street Address	500 E SPRUCE DR
City	PALATINE
State	IL
Zip	60074-2313
Property Category	Residential
Property Type	Residential > Multi-Unit > Apartments (5+ Units)
Legal Description	(NURSERY) PLAT OF (PLANNED) UNIT (DEVELOPMENT) IN SE SEC 02-42-10
Legal Range	10E
Legal Township	42N
Legal Section	02
Legal Subdivision	NURSERY PLAT OF PLANNED UNIT DEVELOPMENT
Legal Lot Number	7
Jurisdiction	COOK IL
Township / Civil Division	PALATINE
Census Block Group	2
Census Block	2027
Census Tract	803608

Owner

Source: Cook County records, as of May 27, 2026

Owner names and exact recorded amounts shown locked on this page are available instantly with a free trial.

Owner of Record	Company Name on Record
Mailing Address	2071 BRINDLEWOOD LN, ALGONQUIN, IL 60102-6018
Owner Type	Company

Deeds, Mortgages & Sale History

Date	Document
Dec 14, 2021	Deed of Trust, Mortgage · Commercial Mortgage HERITAGE BANK OF SCHAUMBURG
Mar 23, 2022	Deed of Trust, Mortgage · Stand-Alone Second Mortgage HERITAGE SOUTHEAST BANK
Dec 16, 2019	Deed of Trust, Mortgage · Line of Credit HERITAGE BK/SCHAUMBURG
Aug 30, 2019	Deed of Trust, Mortgage · Line of Credit HERITAGE BK/SCHAUMBURG

Assessor's Deed Record

Deed Names	Name on Deed
Last Sale	Jul 16, 2007 · Amount on Record
Deed Sale	Jul 16, 2007 · Amount on Record
Prior Sale	Mar 1, 1996 · Amount on Record
Deed Document Number	200740199
Record Updated	Oct 29, 2026

December 2021: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	500 E SPRUCE DR, PALATINE, IL 60074-2313
Transaction Type	Mortgage
Record Updated	Apr 9, 2024
Title Company	CITYWIDE TITLE CORPORATION

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	0034841041
Date	Dec 14, 2021
Instrument	2134841041

Lender

Name	HERITAGE BANK OF SCHAUMBURG
Type	Bank
Address	SCHAUMBURG, IL 60194

Agreement

Type	Commercial Mortgage
Amount	Amount Recorded
Term	119 Months
Due	Nov 1, 2031

Interest

Rate Type	Adjustable Rate
Rate	1.13%

March 2022: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	500 E SPRUCE DR, PALATINE, IL 60074-2313
Transaction Type	Mortgage
Record Updated	Apr 9, 2024
Title Company	CITYWIDE TITLE CORPORATION

Transferred To (Grantee/Buyer)

Name	Verified Name

Mortgage

Document Number	0008204153
Date	Mar 23, 2022
Instrument	2208204153

Lender

Name	HERITAGE SOUTHEAST BANK
Type	Bank
Address	SCHAUMBURG, IL 60194

Agreement

Type	Stand-Alone Second Mortgage
Amount	Amount Recorded

Interest

Rate Type	Adjustable Rate

December 2019: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	500 E SPRUCE DR, PALATINE, IL 60074-2313
Document Number	1935406115
Instrument Date	Dec 16, 2019
Transaction Type	Mortgage
Record Updated	Jan 6, 2020
Title Company	CHICAGO TITLE COMPANY, CHICAGO TITLE CO

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Company
Address	500 E SPRUCE DR PALATINE IL 600742313, PALATINE, IL 60074-2313

Mortgage

Document Number	1935406115
Date	Dec 20, 2019
Instrument	35406115

Lender

Name	HERITAGE BK/SCHAUMBURG
Type	Bank
Address	SCHAUMBURG, IL 60194

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	60 Months
Due	Dec 19, 2024

Interest

Rate Type	Adjustable Rate

August 2019: Deed of Trust, Mortgage

Document Type	Deed of Trust
Jurisdiction	COOK IL
Property Address	500 E SPRUCE DR, PALATINE, IL 60074-2313
Document Number	1925355140
Instrument Date	Aug 30, 2019
Transaction Type	Mortgage
Record Updated	Sep 18, 2019
Title Company	PRAIRIE TITLE

Transferred To (Grantee/Buyer)

Name	Verified Name
Relationship	Company
Address	500 E SPRUCE DR PALATINE IL 600742313, PALATINE, IL 60074-2313

Mortgage

Document Number	1925355140
Date	Sep 10, 2019
Instrument	25355140

Lender

Name	HERITAGE BK/SCHAUMBURG
Type	Bank
Address	SCHAUMBURG, IL 60194

Agreement

Type	Line of Credit
Amount	Amount Recorded
Term	60 Months
Due	Sep 9, 2024

Interest

Rate Type	Adjustable Rate

Tax Assessment & Valuation

Source: Cook County assessment roll, as of May 27, 2026

Property Jurisdictions

Type	Name
State	Illinois
County	Cook County
County Subdivision	Palatine Township
Municipality	Palatine Village
Elementary School District	Palatine Community Consolidated School District 15 (PK - 08)
Secondary School District	Township High School District 211 (09 - 12)

Tax Bill & Assessment History

Year	Tax Bill	Assessed Value	Assessed Market Value
2025		$78,001 (+27.87%) Land $2,000 Building $76,001	$780,010 (+27.87%) Land $20,000 Building $760,010
2023	$18,059.00 (+3.37%)
2022	$17,470.00 (+21.77%)	$60,999 (+38.08%) Land $1,732 Building $59,267	$609,990 (+38.08%) Land $17,320 Building $592,670
2021	$14,347.00	$44,178 Land $1,466 Building $42,712	$441,780 Land $14,660 Building $427,120

Assessed value and assessed market value are set for property tax purposes, not market price estimates; both are a fraction of this property's market value.

Flood

Source: FEMA National Flood Hazard Layer, effective February 11, 2026 · OpenFEMA NFIP redacted claims and policies, as of September 2026

FEMA Flood Zone	Zone X minimal risk
Flood Insurance Requirement	Not required lenders may require it
Community Rating System	Class 7 (15% premium discount)
Nearby Flood Policies	1 in force
Nearby Flood Claims	3 (1978–2013)
Claims Outside the SFHA	2 of 3
Most Recent Claim	Jun 2013 · rainfall accumulation

Values are read at the parcel center point; flood claims are located to the census block group, not this parcel; lenders make the official flood determination.

Wildfire

Source: USDA Forest Service Wildfire Risk to Communities (2nd edition), as of 2024

Wildfire Risk	Low lower than 80% of the US · above 71% of Illinois
Wildfire Likelihood	0.01% annual chance
Exposure	Direct burnable vegetation

Values cover an area roughly 900 ft across, not the parcel itself; insurers use their own ratings.

Drinking Water

Source: EPA Safe Drinking Water Information System, as of September 2026

Water System	PALATINE serves 70,875 people · EPA ID IL0312340
Water Source	Purchased surface water from NORTHWEST WATER COMMISSION
Last State Inspection	Feb 2026
Lead	9 ppb (2026) action level 15 ppb

Violations Reported to EPA

Water Quality	None last 10 years
Treatment and Procedure	None last 10 years
Monitoring and Reporting	None last 3 years

Results are for the whole water system, not water tested at this address; lead at the tap also depends on the building's own pipes.

Internet Providers

Source: FCC Broadband Data Collection, based on 189 locations within half a mile, as of December 31, 2025

Provider	Max Down / Up (Mbps)
Xfinity Cable	2,000 / 250
AT&T Fixed Wireless · DSL	100 / 20

May also be available: T-Mobile, Verizon.

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