Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    407 W Jefferson Street Joliet, IL 60435

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    COMMERCIAL - Joliet, IL

    Type:Office
    Added:
    Mar 30, 2026
    Days on Market:
    31
    Last Refresh:
    Apr 29 at 6:06 pm

    Property Features for 407 W Jefferson Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    OFFIC
    Standard status
    Active

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1926
    Floors in Building
    1

    We can help!

    Listing Contact
    Robert Miller
    Robert Miller

    Listing agent Robert Miller License #475133786

    Listing office Vylla Home 1827 Walden Office sq.suite3, Oak Brook, IL

    Listing date Mar 30, 2026

    MLS# 12605515

    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.

    Overview

    High-Visibility Commercial Space in Joliet

    Located on Jefferson Avenue in Joliet, Illinois, this commercial space offers immediate occupancy with build-out options to suit business needs. The property is situated in a high-visibility area with over 17,500 vehicles passing by daily. Zoned B-3, the space supports a range of uses including office, retail, and service businesses. The location provides convenient access to Downtown Joliet and nearby highways. The unit features new LVP flooring and access to shared hallway restrooms. Water and trash services are included, while the tenant is responsible for electric costs. HVAC is shared with an adjacent unit. The lease requires a minimum of one year, along with a two-month security deposit. This space presents an opportunity to establish a business in a well-located professional center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Holy Hills Deliverence ... Church Hope for Nonviolence Corporate Office Speedy Deductions Tax ... Tax Preparation

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.091922
    Latitude
    41.5254267

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Joliet Restaurant Opportunity

      Restaurant space for lease in downtown Joliet near courthouse.
      81 W Jefferson Street, Joliet, IL 60432
      View Details
    • Contact for pricing

      Prime Commercial Space in Joliet

      High-visibility location near major retailers and hospital.
      90 Barney Drive, Joliet, IL 60435
      View Details
    • Contact for pricing

      Medical/Professional Office Space Available

      First-floor office/medical unit in St. Joseph Hospital Medical District.
      302 N Hammes Avenue, Joliet, IL 60435
      View Details
    • Contact for pricing

      Commercial Space in Joliet, IL

      Retail space available for rent in Joliet, Illinois.
      18 S Larkin Avenue, Joliet, IL 60436
      View Details
    • Contact for pricing

      Office Space in Prime Location

      Office space for lease in convenient Joliet location.
      70 McDonald Avenue, Joliet, IL 60431
      View Details
    • Contact for pricing

      Therapy-Ready Commercial Space in Joliet

      Turn-key space ideal for physical or massage therapy practice.
      101 N 129th Infantry Drive, Joliet, IL 60435
      View Details
    • Contact for pricing

      Medical Suite Near St. Joseph

      Ground-level medical suite near St. Joseph Hospital in Joliet.
      2201 Glenwood Avenue, Joliet, IL 60435
      View Details
    • Contact for pricing

      High-Visibility Retail/Office End Unit

      Retail/Office end unit with high traffic and signage.
      3557 W Jefferson Street, Joliet, IL 60431
      View Details
    • Contact for pricing

      Commercial Space in Joliet, IL

      Commercial property available for lease in Joliet, Illinois.
      100 Manhattan Road, Joliet, IL 60433
      View Details
    • Contact for pricing

      Move-in Ready Office Suite

      Updated office space near Provena St. Joseph Hospital.
      300 N Hammes Avenue, Joliet, IL 60435
      View Details
    • Sponsored
      Contact for pricing

      IL, Joliet - Essington Rd

      1000 Essington Rd, Joliet, IL 60435
      View Details
    • Contact for pricing

      Updated Office Suite Near Hospital

      Move-in ready office suite near Provena St. Joseph Medical Center.
      300 N Hammes Avenue, Joliet, IL 60435
      View Details

    FAQs

    What type of property is this?
    Office units - Rare commercial unit in high-traffic area, suitable for various uses.
    Where is this office units located?
    The property is located at 407 W Jefferson Street Joliet, IL.
    What are key features of this property?
    This property features: High‑visibility location on Jefferson Ave. with over 17,500 vehicles per day; B‑3 zoning supports a wide range of uses (office, retail, service); Conveniently located near Downtown Joliet with easy highway access
    (630) 705-5380
    We can help!
    Listing Contact
    Robert Miller
    Robert Miller
    Real Estate License ID: 475133786
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!