Flex Office/Warehouse
For Sale
$3,900,000
1225 E Washington Street, Joliet, IL 60433
COMMERCIAL - Joliet, IL
Property Size26,000 SF
Lot Size3.80 Acres
Price / SF$150
Days on Market576
Property Features for 1225 E Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUS
Directions
I-80 TO Briggs(N) to Washington (W)
Subdivision
Joliet
Standard status
Active
APN
3007142000180000
Lot size
3.80 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
35930
Utilities
Cooling system
Central Air, Zoned
Building Details
Year built
2003
Floors in Building
2
Listing Agency:
WEB VIDEO Realty
(815) 955-9489
Listed By:
Michael O'Donnell · License #471009539
(815) 955-9489
Added: Jan 2, 2025
Changed: Jul 28
Last Checked: Aug 1 at 2:06PM
MLS# 12263606
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.
Investment Insights
Based on property information with market context.
This flex office/warehouse building includes 26,000 square feet of two-story corporate office space paired with 10,000 square feet of warehouse space. The property also has the layout described as potentially convertible back into approximately 30,000 square feet of open industrial space. Improvements include one indoor dock and one drive-in door.
Located at 1225 E Washington Street in Joliet, IL (Will County), the property is listed under INDUS zoning. The remarks note that the building may be reconfigured for other uses, and mention the possibility of a self-storage contract for deed, along with owner financing being available, subject to terms and approvals.
Located at 1225 E Washington Street in Joliet, IL (Will County), the property is listed under INDUS zoning. The remarks note that the building may be reconfigured for other uses, and mention the possibility of a self-storage contract for deed, along with owner financing being available, subject to terms and approvals.
Key Highlights
- 26,000 SF two‑story corporate office building with 10,000 SF warehouse space
- Building includes 1 indoor dock and 1 drive‑in door
- Potential to convert to 30,000 SF open industrial space
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $405.6k | $15.60 |
| − Vacancy | −$21.1k | −$0.81 |
| EGI | $384.5k | $14.79 |
| − OpEx | −$57.7k | −$2.22 |
| NOI | $326.8k | $12.57 |
26,000 SF · lease $15.60/SF/yr · vacancy 5.20% · expense 15.00%
Alternative Uses
Best Use
Office B
$5.62M
$4.91M – $6.55M
NOI $393,120 @ 7.0% cap · market cap 10.08%
Second Best
Warehouse
$4.67M
$4.09M – $5.45M
NOI $326,832 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$7.67M
$6.71M – $8.94M
NOI $536,640 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60433, IL
16,526
Population
5,774
Households
2.9
Avg Household Size
37
Median Age
13%
College-Educated
79%
High-School Grad
13.6 sq mi
ZIP Area
1,215
Density / Sq Mi
$60,987
Median Household Income
$35,310
Median Earnings
$1,307
Median Rent
$167,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story corporate office with 10,000 square feet of warehouse space, plus one indoor dock and one drive-in door.
Where is this flex space located?
The property is located at 1225 E Washington Street Joliet, IL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 26,000 SF two‑story corporate office building with 10,000 SF warehouse space; Building includes 1 indoor dock and 1 drive‑in door; Potential to convert to 30,000 SF open industrial space
