Address
1513 Essington Road, Joliet, IL
Price
$ 2,495,000
Property Attributes
  • MLS#11996107
  • TypeCommercial
  • CountyWILL
  • CityJoliet
  • AreaJoliet
  • Zip60435
  • Style
  • Year Built2006
  • Taxes$ 42160
  • Price$ 2,495,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage11842
  • Lot Size1.27032 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description

Nestled in a prime location, this beautiful property boasts a total area of 11,842 SF, comprising eight office units/condos. With four existing tenants, including three in the esteemed medical field, this property presents a promising investment opportunity. Each tenant is responsible for their utilities and insurance, with lease agreements structured to suit different needs - from modified gross to triple net leases. This diversified approach ensures stability and flexibility in income streams. With solid tenants in place, this investment offers an armchair opportunity with great returns. Originally designed for 8 units, the property was subdivided into only 4 tenants. However, this presents an incredible opportunity for maximizing income potential and future flexibility. Should any of the current tenants express interest in downsizing, there exists the possibility of reverting the property to its original 8-unit configuration. Not only would this unlock higher income potential, but it also opens the door to endless possibilities for growth and expansion. Don't miss out on this chance to secure a sound investment with solid tenants and promising growth potential. Contact us today to seize this opportunity and take your investment portfolio to new heights.

Price History
3/15/2024 Listed $2,495,000

General Features

Cooling Central Air
Possession Closing
Roof Composition
Construction Materials Brick,Stone
Year Built 2006
Electric Circuit Breakers,Power - 240V,Heavy Power 1200+ Amps
Tenant Pays Air Conditioning,Electricity,Heat,Insurance
Stories 1
Township Joliet
Property SubType Medical
Tax Year 2022
Gross Income 288000
County Will
Net Operating Income 236800
Operating Expense 51200
Property Type Commercial Sale
Status Active
Directions Theodore St to Essington Rd north to address
City Joliet
Total Units 4
MLS Area Joliet
Lot Size Square Feet 55335
Street Name Essington
Tax Annual Amount 42160
Additional Parcels Y/N Yes
Leasable Area 11842
Days on Market 7
Standard Status Active
Property Type Office/Tech

Interior Features

Flooring Carpet,Vinyl
Street Suffix Road

Exterior Features

Building Area Total 11842
Lot Dimensions 150 X 368.9
Frontage Type City Street,Public Road
Exterior Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 60435

Price
AVG $150K
$2.5M
Taxes
AVG $28,725
$42,160
Visits
AVG 67
46
Data Provided by Inside Real Estate®
Year Built
AVG 1973
2006

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