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$600,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12620314
Year Built 1900
Annual Tax Amount $6,270
Tax Year 2024
Lot Dimensions 150x80
Property Sub-Type Mixed Use
Property Description
An excellent investment opportunity, this mixed-use property at 301 & 303 S. Ottawa Street in Joliet offers a two-story building with six total units, including one commercial space and a mix of residential layouts ranging from a studio to a three-bedroom unit. The building provides approximately 6,000 square feet of living space and sits on two parcels totaling 0.42 acres, with five off-street parking spaces. An adjacent vacant lot adds significant upside potential for future development or expansion. Featuring a strong 9.85% cap rate and an attractive price per unit of just $94,200, this asset presents exceptional value for investors seeking both cash flow and long-term upside. Many of the units have been recently renovated, with several offering brand new electrical, helping reduce future capital expenditures while enhancing tenant appeal. Located in the heart of downtown Joliet, the property benefits from strong visibility and walkable access to restaurants, entertainment, and public transportation. The site is minutes from I-80, I-55, and the Joliet Gateway Center Metra and Amtrak station, offering excellent regional connectivity. Nearby attractions, including the Rialto Square Theatre, local casinos, and the Des Plaines Riverwalk, further support tenant demand. Positioned in a growing market with diverse employment drivers, this property offers a compelling combination of stable income, recent improvements, and value-add potential. Seller is a licensed real estate broker.
Location
State IL
County Will
Area Joliet
Interior
Cooling None
Fireplace N
Building
Dwelling Type Mixed Use
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Listed by Steve Rozhon of Crosstown Realtors, Inc.
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Crosstown Realtors
Owner | License ID: 471019341