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    The Largest CRE Database in the US with Over 1 Million Listings

    1350 S Briggs St Joliet, IL 60433

    Sponsored
    For Sale
    $2,900,000

    COMMERCIAL - Joliet, IL

    Property size:
    29,635 SF
    Lot size:
    26.55 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 5 at 1:06 pm

    Property Features for 1350 S Briggs St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    3007243000350000
    Size
    29,635 SF
    Lot size
    26.55 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Tank
    Cooling system
    Central Air

    Building Details

    Year built
    1978
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete, Wood
    Building materials
    Steel Siding, Wood
    Roof type
    Membrane

    We can help!

    Listing Contact
    Thomas Mulvey

    Dow Realty, Inc. (815) 730-1900

    Listing agent Thomas Mulvey (815) 791-6426

    Listing date Feb 4, 2026

    MLS# 12557812

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Former YMCA on 26.55 Acres

    The property features a former YMCA building situated on an L-shaped parcel of 26.55 acres. Zoned R-B, the property has 512 feet of frontage on Briggs Street. The one-story frame structure encompasses 29,635 square feet, featuring insulated corrugated steel and face brick veneer exterior walls, thermal pane windows, and double doors. The roofing system is a combination of standing seam metal and minimally pitched multi-ply membrane. Inside, there is a cafe area with a kitchen, multiple basketball courts within a large gymnasium, an exercise room, various meeting rooms, a children's area/nursery, and restrooms and locker/changing rooms with an indoor swimming pool. The building is heated and cooled by rooftop HVAC units. An asphalt paved parking lot is included. Located within the city limits of Joliet, the zoning allows for uses such as medical offices and business clubs. Residential use is possible with a special use permit. The seller is open to dividing the property into two parcels: one with the building and another with vacant land for development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Restaurant Law Firm Building Supply Auto Repair Shop Gym & Fitness Center Accounting Firm Department Store Kitchen & Bath Showroom HVAC Service Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    The pool, Flip Star Gymnastics Academy, Flip Star Gymnastics Academy: Team Campus, Flip Star Gymnastics Academy

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.0418652
    Latitude
    41.5001287

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    FAQs

    What type of property is this?
    Fitness center & gym - 29,635 SF building on 26.55 acres in Joliet, IL
    Where is this fitness center & gym located?
    The property is located at 1350 S Briggs St Joliet, IL.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: - Large 26.55-acre L-shaped parcel with 512 feet of frontage on Briggs Street.; - Zoned R-B Restricted Business, permitting various uses including medical offices and residential with a special use permit.; - Spacious 29,635 square foot building featuring a gymnasium with multiple basketball courts and an indoor swimming pool.
    (815) 791-6426
    Request Owner's contact information
    1350 S Briggs St Joliet, IL 60433
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    Joliet, IL 60433
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1350 S Briggs St Joliet, IL 60433
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    We can help!
    Listing Contact
    Thomas Mulvey
    (815) 791-6426
    Learn more
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