6-Unit Multifamily
For Sale
$779,000
11 Nicholson Street, Joliet, IL 60435
Two residential buildings feature updated HVAC and split air-conditioning systems.
Property Size3,456 SF
Price / SF$225.41
Days on Market20
Property Features for 11 Nicholson Street
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Neighborhood
St. Pats Area
Public Transit
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,443
Building Details
Year Built
1910
Buildings
2
Stories
2
Units
6
Listing Agency:
Compass
Listed By:
Dan Nelson · License #475189264
(773) 466-7150
Source:
Fishmangroup
Added: Oct 6
Changed: Oct 23
Last Checked: Oct 23 at 1:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Investment Insights
Based on property information with market context.
This six-unit multifamily property comprises two buildings with a combined 3,456 square feet. Built in 1910, the buildings have updated HVAC and split air-conditioning systems. The property is zoned COMMR and includes a vacant parcel at the rear.
The site is within walking distance of the University of St. Francis, downtown Joliet, and regional transit. Its Joliet address places these destinations within reach of residents on foot.
The site is within walking distance of the University of St. Francis, downtown Joliet, and regional transit. Its Joliet address places these destinations within reach of residents on foot.
Key Highlights
- Six units across two buildings
- 3,456 square feet of building area
- Built in 1910
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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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residential buildings feature updated HVAC and split air-conditioning systems.
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 of building area; Built in 1910
