1015 Broadway Street, Joliet, Illinois 60435
$372,500
|
Sold
|
|
| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 6 |
| Baths: | 0 |
| Year Built: | 1959 |
| Property Taxes: | $6,904 |
| Days On Market: | 691 |
| Lot Size: | 0,00 |
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%.
Property Specifics
| Multi-unit | |
| — | |
| — | |
| 1959 | |
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| No | |
| — |
| Will | |
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| — / — | |
| — | |
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| — | |
| 11990484 | |
| 3007044090120000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 19 Apr, 2024 | Sold | $372,500 | MRED MLS |
| 27 Feb, 2024 | Under contract | $400,000 | MRED MLS |
| 27 Feb, 2024 | Listed for sale | $400,000 | MRED MLS |
Room Specifics
Total Bedrooms: 6
Bedrooms Above Ground: 6
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: 0
Rooms: —
Basement Description: None
Other Specifics
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| 2640 | |
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| Not in DB | |
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| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $6,904 |
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Listing Provided By
Citypoint Illinois LLC
