Retail and Contractor Warehouse
For Sale
$749,000
4016-4018 Joliet Avenue, Lyons, IL 60534
Three apartments plus two storefronts and two contractor garages provide multiple income-producing spaces under one roof.
Property Size10,080 SF
Price / SF$74.31
Days on Market77
Property Features for 4016-4018 Joliet Avenue
General Information
Standard status
Active
Size
10,080 SF
Total Parking Spaces
8
Additional Details
Clear Height
14 ft
Multifamily Units
3
Building Details
Year Built
1903
Tenancy
Multi
Listing Agency:
One Eighty Real Estate Group
(312) 479-0201
Listed By:
David Kumskis · License #471012724
(312) 479-0201
Source:
Compass
Added: May 15
Changed: Jul 10
Last Checked: Jul 30 at 11:30AM
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 One Eighty Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use property includes 3 apartments, 2 storefronts, and 2 contractor garage/warehouse spaces. Each storefront has its own bathroom and kitchen, and the storefront areas feature 10' ornate ceilings. The garage/warehouse spaces are approximately 1,100 sq. ft. each, with 11' overhead doors and approximately 14' interior ceiling height. Parking is available on the grounds for at least 8 cars, and the property includes coin laundry. Improvements noted include a newer boiler and newer windows.
Located in Lyons, IL, the property is configured to support both residential and commercial tenants. The 2 contractor garage/warehouse spaces are currently rented for $850 and $900. The long-time owner is retiring.
For buyers or operators, the combination of storefronts and contractor-ready space can support a tenant mix across retail/service and warehouse-style needs, while the apartment units add residential income. According to the seller, apartment rents are currently low and may be adjusted to reflect market value with new ownership.
Located in Lyons, IL, the property is configured to support both residential and commercial tenants. The 2 contractor garage/warehouse spaces are currently rented for $850 and $900. The long-time owner is retiring.
For buyers or operators, the combination of storefronts and contractor-ready space can support a tenant mix across retail/service and warehouse-style needs, while the apartment units add residential income. According to the seller, apartment rents are currently low and may be adjusted to reflect market value with new ownership.
Key Highlights
- 1903 building in Lyons with 3 apartments, 2 storefronts, and 2 contractor garage/warehouse spaces
- 2 contractor garage/warehouse spaces are approximately 1,100 SF each with 11' overhead doors and 14' interior ceiling height
- Contractor garage/warehouse rentals of $850 and $900 and parking on‑site for at least 8 cars
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 | $65.3k | $6.48 |
| − Vacancy | −$3.3k | −$0.33 |
| EGI | $62.0k | $6.15 |
| − OpEx | −$9.3k | −$0.92 |
| NOI | $52.7k | $5.23 |
10,080 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.33M
NOI $139,912 @ 7.0% cap · market cap 18.68%
Second Best
Multifamily LT 5
$1.87M
$1.63M – $2.18M
NOI $130,797 @ 7.0% cap · market cap 17.46%
Theoretical Best
Office A
$3.48M
$3.05M – $4.06M
NOI $243,612 @ 7.0% cap · market cap 32.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 60534, IL
10,749
Population
4,461
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
83%
High-School Grad
1.9 sq mi
ZIP Area
5,657
Density / Sq Mi
$63,827
Median Household Income
$41,328
Median Earnings
$1,149
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments plus two storefronts and two contractor garages provide multiple income-producing spaces under one roof.
Where is this triplex located?
The property is located at 4016-4018 Joliet Avenue Lyons, IL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1903 building in Lyons with 3 apartments, 2 storefronts, and 2 contractor garage/warehouse spaces; 2 contractor garage/warehouse spaces are approximately 1,100 SF each with 11' overhead doors and 14' interior ceiling height; Contractor garage/warehouse rentals of $850 and $900 and parking on‑site for at least 8 cars
