Homes for sale - 303-307 Stone Street, Joliet, IL 60435

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Amber Holup

amber@thehnghomes.com +1(708) 870-6835

Listed by Jeff Jakobof Coldwell Banker Real Estate Group

$ 1,400,000

Est. payment | -/mo

8,872 SqFt

Save

$ 1,400,000

Est. payment | -/mo

Save

8,872 SqFt

Key Details

Property Type Commercial

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 8,872 sqft

Price per Sqft $157

MLS Listing ID 12477149

Year Built 1930

Annual Tax Amount $8,521

Tax Year 2023

Lot Size 0.440 Acres

Lot Dimensions 19302 SF

Property Sub-Type Multi Family 5+

Property Description

Fully Renovated Multi-Family Building in High-Demand Joliet Location. Rare, turn-key investment opportunity in a prime Joliet neighborhood! This renovated 8-unit apartment building, fully rehabbed in 2023, offers a stable, high-yield asset with a proven track record. Situated in a sought-after rental area, this property is fully rented with long-term tenants, ensuring immediate and consistent cash flow. Property Highlights: Year of Rehab: 2023 - All major systems and units have been professionally updated, minimizing future capital expenditures. Occupancy: Fully rented with a history of long-term tenants. Asking Price: $1,400,000 Building Features & Amenities: Recent Renovations: The building underwent a comprehensive, top-to-bottom renovation in 2023, including new plumbing, electrical, roof, windows, & parking lot Updated Units: Each of the eight units has been modernized with flooring, finishes and fixtures, making them highly desirable to renters. Tenant Convenience: On-site, coin-operated laundry facilities provide an additional income stream and a valuable amenity for residents. Parking: Ample off-street parking for tenants with plenty of additional street parking available. Investment Details: Turn-Key Asset: The recent rehabilitation means the building is in excellent condition, and requires minimal hands-on management. Stable Income: With a full occupancy and long-term tenants in place, this property offers a reliable stream of rental income from day one. High-Demand Area: Located in a competitive rental market, the property's desirability ensures low vacancy rates and strong potential for future rent growth. The Joliet rental market is seeing an increase in average rents, making this an ideal addition to an established real estate portfolio. Location & Neighborhood: The building is nestled in a high-demand area of Joliet, walking distance to both downtown Joliet and the University of St. Francis. Located near Metra station and I-80, it offers easy commute for tenants who work in the city. The surrounding neighborhood offers a variety of amenities and a strong tenant base. This is a rare opportunity to acquire a fully renovated, fully-occupied, and low-maintenance investment property in a rapidly growing market. A detailed financial prospectus, including rent rolls and expense reports, is available upon request for qualified buyers. Please do not disturb the tenants. All showings are by appointment only.

Location

State IL

County Will

Rooms

Basement Unfinished

Interior

Cooling None

Fireplace Y

Exterior

View Y/N true

Roof Type Membrane

Building

Structure Type Brick,Stone

NEARBY SCHOOLS & PROPERTIES

SCHOOLSPROPERTIES

Elementary Schools 20

7

Richland Elementary School

Public | PK - 4
6

Richland Jr High School

Public | 5 - 8
5

Rockdale Elementary School

Public | PK - 8
5

Taft Elementary School

Public | KG - 5
4

M J Cunningham Elementary School

Public | KG - 5
4

Woodland Elementary School

Public | PK - 5
4

Forest Park Individual Education School

Public | KG - 5
3

Pershing Elementary School

Public | KG - 5
3

Lynne Thigpen Elementary School

Public | KG - 5
2

Edna Keith Elementary School

Public | KG - 5
1

Farragut Elementary School

Public | KG - 5
1

Chaney Elementary School

Public | KG - 5
1

Sator Sanchez Elementary School

Public | KG - 5
1

Fairmont School

Public | PK - 8
1

Isaac Singleton Elementary School

Public | PK - 5
1

A O Marshall Elementary School

Public | PK - 5
0

Our Savior Lutheran Preschool

Private | PK - KG
0

Joseph E Fisher School

Public | KG - 8
0

Franciscan Learning Center

Private | PK - KG
0

Joliet Montessori School

Private | PK - 9

Middle Schools 8

5

Hufford Junior High School

Public | 6 - 8
5

Dirksen Junior High School

Public | 6 - 8
5

Washington Jr High & Academy Prgm

Public | 6 - 8
4

Gompers Junior High School

Public | 6 - 8
0

Gah Dillard Harris Educational Center

Private | 6 - 12
0

Monge Jr High School

Public | 6 - 8
0

Lincoln School Alop

Public | 6 - 12
0

Lincoln School Rssp

Public | 6 - 12

High Schools 5

3

Joliet West High School

Public | 9 - 12
1

Joliet Central High School

Public | 9 - 12
0

Joliet Catholic Academy

Private | 9 - 12
0

Joliet Township High School - Alternate

Public | 9 - 12
0

Lincoln School Taoep

Public | 9 - 12

School and business data provided by Attom Data.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(708) 870-6835

amber@thehnghomes.com

9755 W 143rd St., Park, IL

303-307 Stone Street Joliet, IL 60435