The three properties of “significant” interest, where searches will begin from 9am, are located at Bellevue Hill, Bondi Beach and Potts Point.
Ms Balmain, then aged 22, was last seen in the Kingsford area on November 5, 1994.
Her personal property – including a make-up bag, keys and a shoe – was later found scattered near Ainslie Street.
“We are now exploring a new line of inquiry and believe these locations are of significance and will help us progress the investigation,” Detective Chief Inspector Stuart Bell said.
A new lead today saw three locations in the eastern suburbs probed for DNA evidence: the former Swiss Grand Hotel in Bondi; a long-gone brothel in Potts Point; and the Bellevue Hill apartment where Ms Balmain lived were searched.
“Following the $1 million reward announcement and additional public appeals for information, we are now exploring a number of new lines of inquiry,” Detective Chief Inspector Bell said.
A photo of an unknown man was sent to Strike Force Aramac detectives as a result of the reward.
“We’re trying to identify his location and his associates on the night of November 5 1994,” Chief Inspector Bell said.
“We’re looking at a person that was previously unknown to Revelle who may have met her on the night of her disappearance.”
Despite extensive investigations by local police at the time and over the years, no one has been charged in relation to her disappearance.
Before her disappearance, Ms Balmain had told friends she had fallen in love and was about to embark on a six-week dance tour of Japan.
She was working as a sex worker but November 5, the day she was last seen alive, was meant to be her last shift.
But she wasn’t seen again publicly after her agency’s driver dropped her at an address in Kingsford.
Ms Balmain’s boyfriend at the time reported her missing that night, followed by her mother the next day.
A 1999 coronial inquest found Ms Balmain had died at the hands of a person or persons unknown, and the matter was referred to the Unsolved Homicide Unit for future investigation.
The new lines of inquiry will likely see another inquest.
“For many years, our family worked tirelessly to find out what happened to my sister – but sadly both our mother and Revelle’s father, Ivor, passed away without ever knowing what happened to their little girl,” Ms Simpson said.
“Losing someone that is close to you – you’re never the same person again.
“I truly hope this reward will prompt someone to come forward with information that will help police find those responsible for Revelle’s disappearance.
“It is my personal hope that this reward may also help us find Revelle – so that I may finally put her to rest.”
The properties searched today will be subjected to an “extensive forensic examination” by specialist officers.