Two-Building Multifamily
11 Nicholson Street, Joliet, IL 60435
For Sale
$779,000
Commercial Sale, Joliet, IL
Property Size3,456 SF
Lot Size0.34 Acres
Price / SF$225.41
Days on Market36
Property Features for 11 Nicholson Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Directions
Subdivision
Standard status
APN
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Floors in Building
Number of units
Building materials
Buildings
Listing Agency:
Compass
(773) 466-7150
Listed By:
Dan Nelson · License IL #475189264
Added: Oct 6
Changed: Oct 28
Last Checked: Nov 10 at 5:06PM
MLS# 12761614
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.
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Investment Insights
Based on property information with market context.
This multifamily property consists of two buildings with six units across 3,456 square feet. Built in 1910, the buildings have vinyl siding and updated HVAC and split AC systems. The 0.34-acre property also includes an undeveloped parcel at the rear. Zoning is listed as COMMR.
The property is within walking distance of the University of St. Francis, downtown Joliet, and regional transit. Its location places those destinations within reach of residents without relying on a vehicle for every trip.
The property is within walking distance of the University of St. Francis, downtown Joliet, and regional transit. Its location places those destinations within reach of residents without relying on a vehicle for every trip.
Key Highlights
- Six units across two buildings
- 3,456 square feet on a 0.34‑acre property
- Built in 1910; vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,910
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,200
$678.2K
Cap Rate 7%
$484,429
$484.4K
Cap Rate 9%
$376,778
$376.8K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$65.9K $19.08/SF
− Vacancy
−$4.3K −$1.24/SF
EGI
$61.7K $17.84/SF
− OpEx
−$27.7K −$8.03/SF
NOI
$33.9K $9.81/SF
Area
Joliet, IL
Vacancy
6.50%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$678,200
Cap Rate 7%
$484,429
Cap Rate 9%
$376,778
Alternative Uses
Best Use
Apartment 5plus
$484.4K
$423.9K – $565.2K
NOI $33,910 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.7K – $1.19M
NOI $71,332 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
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Business Placement
Demographics for 60435, IL
48,927
Population
20,162
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
10.8 sq mi
ZIP Area
4,530
Density / Sq Mi
$74,967
Median Household Income
$41,201
Median Earnings
$1,145
Median Rent
$217,200
Median Home Value
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Market
Properties on Market for Multifamily properties in Joliet
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property includes an undeveloped rear parcel alongside its residential buildings.
Where is this multifamily property located?
The property is located at 11 Nicholson Street Joliet, IL.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Six units across two buildings; 3,456 square feet on a 0.34‑acre property; Built in 1910; vinyl siding
