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    2435 Glenwood Ave Joliet, IL 60435

    View on Map
    Sponsored
    For Sale
    $1,295,000

    Commercial Building, Low-rise - Joliet, IL

    Property size:
    6,874 SF
    Lot size:
    0.68 Acres
    Days on Market:
    26
    Last Refresh:
    Mar 17 at 2:06 am

    Property Features for 2435 Glenwood Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    200
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Kitchen
    Bathrooms
    4
    APN
    05-06-12-222-008
    Parking features
    Garage
    Basement Y/N
    1
    Size
    6,874 SF
    Lot size
    0.68 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1988
    Year renovated
    1988
    Floors in Building
    2
    Flooring type
    Carpet, Tile
    Building materials
    Brick
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Randolph Taylor
    Randolph Taylor

    eXp Commercial (630) 474-6441

    Listing agent Randolph Taylor (630) 474-6441

    Listing date Feb 19, 2026

    MLS# 11492153 Listing URL

    Copyright © 2026 My State MLS. 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

    Move-in Ready Joliet Office Building

    Located on Joliet's northwest side near Ascension St. Joseph Medical Center, the property at 2435 Glenwood Avenue is a freestanding building with 6,874 square feet above grade and a fully finished 3,437 square foot lower level, totaling 10,311 square feet. Suited for professional office use, medical conversion, or nonprofit/institutional operations, it is ideal for owner-users or investors seeking a turn-key asset. The building features a functional layout across two floors, connected via elevator. The upper level includes a reception area, private offices, conference and meeting rooms, open workstations, and a breakroom/kitchenette, all recently renovated with updated lighting, flooring, and commercial finishes. The finished lower level adds versatility with additional office space, restrooms, a large training or flex-use area, and storage options. The entire space is delivered vacant, in very good condition, and includes optional commercial-grade office furniture for immediate use. With 120 feet of frontage, monument signage potential, and 31 surface parking spaces, the 0.68-acre site offers visibility and ease of access. Located just off Larkin Avenue and minutes from I-80, the property serves users from Joliet, Shorewood, Crest Hill, and Plainfield. The adjacent 9,410 square foot office building at 2439 Glenwood Avenue is also available and may be purchased individually or as part of a multi-building opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shetina Appraisal Co Real Estate Agency Mr. Kishor Ajmere Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.141801
    Latitude
    41.529904

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    FAQs

    What type of property is this?
    Office building - High-quality office building near Ascension St. Joseph Medical Center.
    Where is this office building located?
    The property is located at 2435 Glenwood Ave Joliet, IL.
    What is the asking price?
    The asking price for this property is $1,295,000.
    What are key features of this property?
    This property features: - Move-in ready, high-quality office building in a sought-after location near Ascension St. Joseph Medical Center.; - Versatile ±10,311 SF freestanding property suitable for professional office, medical conversion, or nonprofit/institutional use.; - Functional layout across two floors with elevator access, featuring renovated offices, conference rooms, breakroom, and a finished lower level.
    (630) 474-6441
    Request Owner's contact information
    2435 Glenwood Ave Joliet, IL 60435
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    Joliet, IL 60435
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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
    2435 Glenwood Ave Joliet, IL 60435
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    We can help!
    Listing Contact
    Randolph Taylor
    Randolph Taylor
    Real Estate License ID: 475142701
    (630) 474-6441 (630) 654-0006
    Learn more
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