Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    220 Channahon St Joliet, IL 60404

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Shorewood, IL

    Type:Office
    Days on Market:
    4
    Last Refresh:
    Jan 22 at 4:06 pm

    Property Features for 220 Channahon St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Zoning
    COMMR

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2006
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Wood, Marble
    Building materials
    Brick, Concrete, Wood
    Roof type
    Composition

    We can help!

    Listing Contact
    David Lemley

    DIAMOND REAL ESTATE INC. (815) 260-5187 [email protected]

    Listing agent David Lemley (630) 926-2637

    Listing date Jan 19, 2026

    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

    Professional Office Space For Rent

    Professional office spaces are available for rent, specifically catering to counselors and therapists. The property is located approximately 150 yards from the I-55 Jefferson Street exit. The available office spaces are situated within a suite comprising five separate offices. Two spaces are currently available. The first office measures 9x14 and is expected to be available in late February or early March. The rent for this space is $850 per month. The second office is 8x12, furnished, and currently occupied by a counselor who uses the space three days a week for three hours per day. The property owner is seeking a counselor or therapist to share this space. The rent for the shared space is $395 per month, which includes utilities and internet access. The building presents a well-maintained exterior.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    DIAMOND REAL ESTATE ... Real Estate Agency Edward Jones - Financial ... Financial Consultant ACE Roofing Services, ... Roofing Contractor Rima Mickus Counselor Hunziker-Nagel Insurance Solutions ... Insurance Agency

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.1941534
    Latitude
    41.5213923

    Nearby Similar for Lease

    • New
      Contact for pricing
      32,670 SF

      Medical/Professional Office Space Available

      First-floor office/medical unit in St. Joseph Hospital Medical District.
      302 N Hammes Ave, Joliet, IL 60435
      View Details
    • Contact for pricing

      Versatile Office Space in Joliet

      1,500 SF office space suitable for medical or professional uses.
      3587 Hennepin Dr, Joliet, IL 60431
      View Details
    • Contact for pricing

      Therapy-Ready Commercial Space in Joliet

      Turn-key space ideal for physical or massage therapy practice.
      101 N 129Th Infantry Dr, Joliet, IL 60435
      View Details
    • Contact for pricing
      9,583 SF

      Dental Space in Prime Location

      1860 SF dental space with easy highway access.
      1106 N Larkin Ave, Joliet, IL 60435
      View Details
    • Contact for pricing
      137,214 SF

      Modern Office Space in Joliet

      Customizable office spaces with ample parking and highway access.
      100 Manhattan Rd, Joliet, IL 60433
      View Details
    • Contact for pricing

      Move-in Ready Office Space Available

      Office space for lease in a convenient Joliet location.
      2401 W Jefferson St, Joliet, IL 60435
      View Details
    • Contact for pricing
      3,049 SF

      Renovated Retail/Office Space Available

      Recently renovated retail/office space with high traffic and natural light.
      7624 Madison St, Forest Park, IL 60130
      View Details
    • New
      Contact for pricing
      3,049 SF

      Downtown Joliet Restaurant Opportunity

      Restaurant space for rent in downtown Joliet near courthouse.
      81 W Jefferson St, Joliet, IL 60432
      View Details
    • Contact for pricing

      Move-in Ready Office Space Available

      Up to 3821 SF of office space for lease.
      2401 W Jefferson St, Joliet, IL 60435
      View Details
    • Contact for pricing
      22,651 SF

      Joliet Office Space Available

      Office space for lease in a convenient Joliet location.
      70 Mcdonald Ave, Joliet, IL 60431
      View Details
    • New
      Contact for pricing
      Pending

      Move-in Ready Office Space Available

      Fully built-out office space near St. Joseph Hospital.
      221 Springfield Ave, Joliet, IL 60435
      View Details
    • Contact for pricing

      Joliet Commercial Space for Lease

      Medical spa/office space with ample parking near hospital.
      333 N Hammes Ave, Joliet, IL 60435
      View Details

    FAQs

    What type of property is this?
    Office space - Office spaces available for counselors and therapists near I-55.
    Where is this office space located?
    The property is located at 220 Channahon St Joliet, IL.
    What are key features of this property?
    This property features: - Prime location: Just 150 yards from the I-55 Jefferson St. exit.; - Two office spaces available: 9X14 ($850/month) and 8X12 ($395/month).; - All utilities and internet included in rent.
    (815) 260-5187
    Request Owner's contact information
    220 Channahon St Joliet, IL 60404
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    220 Channahon St
    Joliet, IL 60404
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    220 Channahon St Joliet, IL 60404
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    David Lemley
    Real Estate License ID: 475169853
    (815) 260-5187
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.