$995,000
( $96.60Per Sq Foot )
 $5,341 est/mo Sourced by Back At You

1507 1/2 W Jefferson Street,Joliet, IL 60435

Joliet, IL 60435

Share:

PreviousNext

Description

1507 1/2 W Jefferson St presents investors with an opportunity to acquire an 10,300-square-foot multi-tenant retail property in Joliet, Illinois, combining existing cash flow with significant value-add potential through the lease-up of currently vacant space. The property is currently approximately 57% occupied, with approximately 5,900 square feet occupied and 4,400 square feet available for lease. Existing tenants represent a diversified mix of neighborhood and service-oriented uses, including a church, tobacco and vape retailer, barber shop, and childcare operation. Current contractual base rent totals approximately $103,800 annually, or $8,650 per month. Based on current underwriting, the property generates approximately $54,144 in current NOI. The primary investment opportunity is the lease-up of the property's three vacant spaces. The underwriting projects annual income increasing to approximately $212,600, with a stated pro forma NOI of $126,910, providing meaningful upside as the property moves toward stabilization. The combination of existing income, approximately 42.7% vacancy, flexible suite sizes, and a manageable 10,300-square-foot footprint makes the property particularly attractive to investors seeking a hands-on value-add retail opportunity.

Details

MLS #12748229
Listing TypeFor Sale
StyleRetail/stores
Sub-TypeResale
StatusActive Under Contract
Year1973
Days On Site28
Listing Provided ByKeller Williams Premiere Properties | Charles McCann

Features

SQ Feet10,300
Story(s)1
Units9
ZoningCOMMR

Interior

CoolingCentral Individual

Utilities

ElectricCircuit Breakers

Taxes

Tax Year2025
Tax Annual Amount23007

Area Information

StateIL
CountyWill
CityJoliet
Zip Code60435
AreaJoliet
Listing VS Median (in 60435)
Price:
$995,000
low | high
Med:
$299,950
100% of Average
sqft:
10,300
low | high
Med:
1,356
100% of Average
$ / sqft:
$97
low | high
Med:
$249
100% of Average
On site:
28
low | high
Med:
6
100% of Average
Sourced by Back At You

Market Activity 60435

Request a showing

Request a showing

Contact

Additional Information

Showing Information

Submit Form

Required Field
By submitting, you agree to receive promotional texts and/or calls from Chicagoland Brokers Inc at the number provided. Message/data rates may apply. Consent is not a condition of purchase, and you can opt out anytime by replying STOP.
The information is being provided by MRED. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 MRED. All Rights Reserved.

Contact

Learn More About This Property

Chicagoland Brokers Inc

Chicagoland Brokers Inc

 (773) 317-4414e_orlovska@yahoo.com
StateIL
CountyWill
CityJoliet
Zip Code60435
AreaJoliet
Listing VS Median (in 60435)
Price:
$995,000
low | high
Med:
$299,950
100% of Average
sqft:
10,300
low | high
Med:
1,356
100% of Average
$ / sqft:
$97
low | high
Med:
$249
100% of Average
On site:
28
low | high
Med:
6
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $746K - $1.243M
sqft: 7,500 - 12,500
Nearby Listings Property ImageNearby Listings Details
114 N Larkin Avenue Property Photo 1
$650,000
114 N Larkin Avenue
Joliet, IL 60435
Listing Updated: September 28, 2026 at 5:26:01 PM PDT
Real Estate Links Our Domains