22-Unit Apartment
200 Madison St, Joliet, IL 60435
For Sale
New
Contact for pricing
Three-story brick construction, on-site laundry, and a mix of one- and two-bedroom apartments define the property.
Property Size20,625 SF
Lot Size0.47 Acres
Price / SF$162.42
Days on Market5
Property Features for 200 Madison St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Amenities
on-site laundry
Building Details
Buildings
Stories
Construction
Listing Agency:
Horvath & Tremblay
Listed By:
Thomas Shanley · License #IL 475207055
(312) 957-7189
Source:
Crexi
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 at 4:33PM
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 Horvath & Tremblay
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-story brick apartment property contains 22 units: twelve two-bedroom, one-bathroom apartments and ten one-bedroom, one-bathroom apartments. The building has 17,600 square feet of gross living area within 17,600 square feet of gross area, and sits on a 0.47-acre parcel. Residents have access to on-site laundry and 22 off-street parking spaces.
The property is in Joliet, with connections to Jefferson Street, U.S. Route 30, Interstate 80, and Interstate 55. Downtown Joliet, neighborhood retail corridors, and nearby residential communities are also identified in the surrounding context.
The property is in Joliet, with connections to Jefferson Street, U.S. Route 30, Interstate 80, and Interstate 55. Downtown Joliet, neighborhood retail corridors, and nearby residential communities are also identified in the surrounding context.
Key Highlights
- 22 apartments: twelve two‑bedroom/one‑bathroom units and ten one‑bedroom/one‑bathroom units
- Three‑story brick building with 17,600 square feet of gross living area
- Gross area reported at 17,600 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,370
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,047,400
$4.0M
Cap Rate 7%
$2,891,000
$2.9M
Cap Rate 9%
$2,248,556
$2.2M
Market Conditions
NOI Build-Up for 20,625 SF
Gross rent
$393.5K $19.08/SF
− Vacancy
−$25.6K −$1.24/SF
EGI
$367.9K $17.84/SF
− OpEx
−$165.6K −$8.03/SF
NOI
$202.4K $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%
$4,047,400
Cap Rate 7%
$2,891,000
Cap Rate 9%
$2,248,556
Alternative Uses
Best Use
Apartment 5plus
$2.89M
$2.53M – $3.37M
NOI $202,370 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.08M
$5.32M – $7.10M
NOI $425,700 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
22
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,103
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick construction, on-site laundry, and a mix of one- and two-bedroom apartments define the property.
Where is this apartment building located?
The property is located at 200 Madison St Joliet, IL.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 22 apartments: twelve two‑bedroom/one‑bathroom units and ten one‑bedroom/one‑bathroom units; Three‑story brick building with 17,600 square feet of gross living area; Gross area reported at 17,600 square feet
