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1015 N Broadway Street

Joliet, IL 60435
  • $372,500
  • STATUS: Closed
  • ON SITE: 57 Days
  • MLS #: 11990484
Sold - 04/19/2024
$372,500
SOLD - 04/19/2024
  • 6
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1959
County:
Area:

School Ratings & Info

School District:
86

Description

Amazing opportunity to acquire a four-unit rowhouse in Joliet, IL, offering significant potential for value enhancement. The property comprises two 2-bedroom units and two 1-bedroom units, all currently in rentable condition, with minor deferred maintenance. A savvy investor can leverage the initial months' excess cashflow to address these maintenance items, subsequently boosting the property's value and rental rates. The existing rents are well below market rates. The property is owned by an Illinois licensed real estate broker. Situated in Joliet's coveted Cathedral District, renowned as one of the city's most desirable locations, the area benefits from a diverse blue-collar workforce, supported by two major casinos-Harrah's and Hollywood Casino. The Cathedral District has experienced a rise in rental prices, historic low vacancies, and a limited inventory, making it an attractive investment. Additionally, Will County's favorable tenant laws and lower property taxes have contributed to a thriving investment environment, with properties commanding cap rates around 6%.

Sold by Digital Realty.

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© 2024 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2024-04-25T00:00:14.44 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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1015 N Broadway Street Joliet, IL 60435

  • Price: $400,000
  • Status: Closed
  • On Site: 57 Days
  • MLS #: 11990484
6
Beds
0
Baths
0
½ Baths
N/A
Acres
1959
Built
Neighborhood:
Joliet
County:
Will
Area:
Joliet
School District:
86
Property Description
Amazing opportunity to acquire a four-unit rowhouse in Joliet, IL, offering significant potential for value enhancement. The property comprises two 2-bedroom units and two 1-bedroom units, all currently in rentable condition, with minor deferred maintenance. A savvy investor can leverage the initial months' excess cashflow to address these maintenance items, subsequently boosting the property's value and rental rates. The existing rents are well below market rates. The property is owned by an Illinois licensed real estate broker. Situated in Joliet's coveted Cathedral District, renowned as one of the city's most desirable locations, the area benefits from a diverse blue-collar workforce, supported by two major casinos-Harrah's and Hollywood Casino. The Cathedral District has experienced a rise in rental prices, historic low vacancies, and a limited inventory, making it an attractive investment. Additionally, Will County's favorable tenant laws and lower property taxes have contributed to a thriving investment environment, with properties commanding cap rates around 6%.
Exterior Features

Exterior Building Type Vinyl Siding Lot Size Less Than .25 Acre Multi Family Type 1 Story Unit/s Parking Details Space/s Parking Onsite Yes Parking Ownership N/A Parking Total 4 Waterfront YN No

Interior Features

Basement None Basement Bathrooms YN No Basement Details None Bedrooms Below Grade 0 Bedrooms Total 6 Full Baths In Building 4 Half Baths In Building 0 Heating Natural Gas Rooms Total 22

Property Features

Age 61-70 Years Built Before1978 YN Yes Corporate Limits Joliet Financing Conventional General Information School Bus ServiceCommuter Bus Mls Actual Status Closed New Construction YN No Ownership Fee Simple Rebuilt YN No Sewer Public Sewer Short Sale Not Applicable Special Listing Conditions None Tax Annual Amount 6903.88 Tax Year 2022 Total Numberof Unitsin Building 4 Township Joliet Type Two to Four Units Water Source Public Zoning MULTI

Listing information © 2024 Midwest Real Estate Data LLC.
Listing provided courtesy of Citypoint Illinois LLC: 847-744-5003.


© 2024 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2024-04-25T00:00:14.44 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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