Endcap Retail Suite with
1948 Essington Road Joliet, IL 60435
For Sale
$240,000
COMMERCIAL - Joliet, IL
Property Size1,940 SF
Lot Size0.90 Acres
Price / SF$123.71
Days on Market152
Property Features for 1948 Essington Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Standard status
Active
APN
0603363020091001
Lot size
0.90 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4010
Utilities
Cooling system
Central Air, Exhaust Fan (Cooling)
Building Details
Year built
1991
Floors in Building
2
Number of units
6
Building materials
Steel Siding
Listing Agency:
RE/MAX Ultimate Professionals
(815) 725-4545
Listed By:
Andrew Nordstrom · License #475165337
(815) 725-4545
Added: Feb 26
Changed: Jul 28
Last Checked: Jul 28 at 5:06PM
MLS# 12578399
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 end unit retail space offers an open layout designed for flexible tenant use. The property includes an additional upstairs area that can support storage or extra workspace. Constructed as a durable all-steel building, the overall property consists of six individually owned units.
The building is located on Essington Road in Joliet, providing visibility and exposure from a high-traffic roadway. Ample shared parking is available in the front lot, with additional parking in the rear for added convenience.
The available suite is configured as a street-level endcap with an upstairs component, providing two levels for tenant operations within a multi-unit retail property.
The building is located on Essington Road in Joliet, providing visibility and exposure from a high-traffic roadway. Ample shared parking is available in the front lot, with additional parking in the rear for added convenience.
The available suite is configured as a street-level endcap with an upstairs component, providing two levels for tenant operations within a multi-unit retail property.
Key Highlights
- 1,400 SF end unit commercial property on high‑traffic Essington Road
- Includes an additional 540 SF upstairs for storage or extra workspace
- All‑steel building constructed in 1991
Financial Insights For Retail
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 | $29.1k | $15.00 |
| − Vacancy | −$2.2k | −$1.13 |
| EGI | $26.9k | $13.88 |
| − OpEx | −$8.1k | −$4.16 |
| NOI | $18.8k | $9.71 |
1,940 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$269.2K
$235.5K – $314.0K
NOI $18,842 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$572.0K
$500.5K – $667.4K
NOI $40,042 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - End unit retail space with an open layout and an additional upstairs area, within a six-unit steel building.
Where is this storefront property located?
The property is located at 1948 Essington Road Joliet, IL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,400 SF end unit commercial property on high‑traffic Essington Road; Includes an additional 540 SF upstairs for storage or extra workspace; All‑steel building constructed in 1991
