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$ 2,495,000
Est. payment /mo
New
1513 Essington RD Joliet, IL 60435
11,842 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 11,842 sqft
Price per Sqft $210
MLS Listing ID 12399792
Year Built 2006
Annual Tax Amount $43,887
Tax Year 2024
Lot Dimensions 150 X 368.9
Property Sub-Type Office/Tech
Property Description
Nestled in a highly desirable area, this attractive commercial property offers a total of approximately 11,842 SF, comprising 8 office units/condos. Currently, the property is fully leased to four tenants, including three in the esteemed medical sector, making it a promising investment with reliable income streams. Property Highlights: Flexible Lease Structures: Each tenant manages their own utilities and insurance. The lease agreements are structured to accommodate various needs-from modified gross to triple net leases-ensuring stability and flexibility for investors. Potential for Expansion: Originally designed for 8 units, the property was subdivided into only 4 tenants. This configuration provides an exceptional opportunity to maximize income by reverting to the original 8-unit layout if tenants choose to downsize, unlocking higher income potential and future growth. Immediate Income & Stability: Fully leased with long-term agreements, the property guarantees immediate cash flow. The tenant mix and lease terms contribute to a stabilized income stream. Unique Investment Advantages: Diversified Tenant Base: All suites are currently leased, including a major national corporation with a multi-year sub-rent agreement for virtual and in-person office spaces. This anchor tenant ensures long-term demand and recurring revenue. Low Maintenance & High Return: The building is well-maintained and strategically configured to minimize operational costs while maximizing leasing efficiency. Strategic Location: Joliet is one of the fastest-growing markets in the southwest Chicago metro area, boasting excellent transportation access via I-80 and I-55, strong infrastructure, and a thriving business ecosystem. Why Invest in Joliet? Joliet continues to attract logistics firms, professional services, and expanding small businesses due to its strategic location, affordability, and ongoing municipal development. This property is well-positioned to benefit from both current tenant stability and future appreciation. Additional Highlights: Fully occupied with long-term tenants Owner motivated to sell due to relocation Opportunity for 1031 exchange buyers and experienced investors seeking solid returns Don't Miss This Rare Opportunity! Whether you're an experienced investor seeking strong, stable returns or a company looking for a managed asset in a high-growth corridor, this property offers excellent potential. Contact us today for a detailed financial packet, rent roll, and private showing. Serious inquiries only.
Location
State IL
County Will
Area Joliet
Interior
Cooling Central Air
Flooring Carpet, Vinyl
Fireplace N
Exterior
Roof Type Composition
Building
Dwelling Type Office/Tech
Level or Stories 1
Structure Type Brick,Stone
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Listed by Valdy Biernacki • Realty Executives New Image