Rare 8-Unit Row House Property

1011-1015 N Broadway St. Joliet IL 60435
  • $750,000
  • $93,750
  • / Unit

Rare 8-Unit Row House Property

1011-1015 N Broadway St. Joliet IL 60435
Yearly Income $79,800
Yearly Expenses $32,400
Current Rents $79,800
Pro Forma Rents $112,859
  • 12
  • Bedrooms
  • 8
  • Bathrooms
  • 5284
  • Sq Ft
  • 1959
  • Year Built
  • 100%
  • Occupancy
  • 12
  • Parking
  • 1
  • Stories
  • Forced Air
  • Heating System
  • Central Air
  • Cooling System
  • None
  • Laundry
  • 12
  • Bedrooms
  • 8
  • Bathrooms
  • 5284
  • Sq Ft
  • 1959
  • Year Built
  • 100%
  • Occupancy
  • 12
  • Parking
  • 1
  • Stories
  • Forced Air
  • Heating System
  • Forced Air
  • Cooling System
  • None
  • Laundry

About the property

Very rare opportunity to purchase a 2 building, 8-unit rowhouse portfolio in Joliet, IL with huge value-add opportunity. The property consists of four 2-bedroom units and four 1-bedroom units. While the units are all in rentable condition, the owner has minor deferred maintenance items. Using the first few months excess cashflow, a new owner could reinvest in taking care of these various items and increase the value of the property and also rents. Current rents are drastically below market rate.

About the neighbourhood

  • Joliet’s historic Cathedral District is one of the most desirable locations in the City of Joliet. The city maintains a diverse blue-collar work force with the local economy being propped up by 2 major casinos; Harrah’s and the Hollywood Casino. Rental prices have been steadily increasing and vacancies have been reaching historic lows with the limited existing rental inventory available. Will County’s relatively lenient tenant laws and lower property taxes have made it a hotbed for investors in the past few years with properties commanding cap rates hovering around the 6% mark.

Property Documents

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Market Report

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Walkscore

Nearby

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Health & Medical
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Contact Information

Melissa Topolewski

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Property Pricing

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