Mixed-Use Building with
For Sale
$1,500,000
1214-1222 Essington Rd, Joliet, IL 60435
Separate office areas connect to heated warehouse, shop, and storage space with multiple overhead doors.
Property Size11,200 SF
Lot Size1.47 Acres
Price / SF$133.93
Days on Market8
Property Features for 1214-1222 Essington Rd
General Information
Standard status
Active
Size
11,200 SF
Lot size
1.47 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
8,200 SF
Office Build-Out
3,000 SF
Drive-In Doors
4
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Office Units
2
Property Use
Multi-use
Building Details
Year Built
1997
Buildings
1
Stories
2
Building Size
11,200 SF
Construction
Brick
Tenancy
Multi
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
James Skorupa · License #471004588
(815) 553-2411
Source:
Illianahomesource
Added: Oct 25
Changed: Oct 31
Last Checked: Nov 1 at 5:45AM
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 Coldwell Banker Real Estate Group
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Investment Insights
Based on property information with market context.
The 11,200-square-foot building on approximately 1.47 acres combines two separate 1,500-square-foot business suites with 8,200 square feet of warehouse, shop, and storage areas. The warehouse spaces are heated and insulated, with high ceilings and multiple overhead doors, including doors on the north, east, and south sides. A 30-by-50-foot second-floor storage room overlooks the first warehouse and could be converted to offices. Each business suite has its own furnace, central air conditioning, bathroom, utility room, and separate electric, gas, and water meters. The north-side warehouse area has two gas blower heaters and two bathrooms. The south-side office suite includes reception, three offices, and a break room; it is leased to a real estate office. The north-side office is occupied by Pines Rental, which operates a U-Haul service.
The property fronts Essington Road in Joliet, with 158 feet of frontage and front, side, and rear parking areas. Interstate 55, Route 30, Louis Joliet Mall, and Interstate 80 are described as a short drive away.
The property fronts Essington Road in Joliet, with 158 feet of frontage and front, side, and rear parking areas. Interstate 55, Route 30, Louis Joliet Mall, and Interstate 80 are described as a short drive away.
Key Highlights
- 11,200‑square‑foot building on approximately 1.47 acres
- Two 1,500‑square‑foot business suites and 8,200 square feet of warehouse, shop, and storage areas
- Two heated, insulated warehouse spaces with high ceilings and multiple overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,770
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,675,400
$2.7M
Cap Rate 7%
$1,911,000
$1.9M
Cap Rate 9%
$1,486,333
$1.5M
Market Conditions
NOI Build-Up for 11,200 SF
Gross rent
$235.2K $21.00/SF
− Vacancy
−$21.2K −$1.89/SF
EGI
$214.0K $19.11/SF
− OpEx
−$80.3K −$7.17/SF
NOI
$133.8K $11.94/SF
Area
Joliet, IL
Vacancy
9.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,675,400
Cap Rate 7%
$1,911,000
Cap Rate 9%
$1,486,333
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.82M
NOI $169,344 @ 7.0% cap · market cap 11.29%
Second Best
Warehouse
$2.01M
$1.76M – $2.35M
NOI $140,789 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,168 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Drive-in doors
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
975
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
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate office areas connect to heated warehouse, shop, and storage space with multiple overhead doors.
Where is this mixed-use property located?
The property is located at 1214-1222 Essington Rd Joliet, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 11,200‑square‑foot building on approximately 1.47 acres; Two 1,500‑square‑foot business suites and 8,200 square feet of warehouse, shop, and storage areas; Two heated, insulated warehouse spaces with high ceilings and multiple overhead doors
