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    1122 Collins St Joliet, IL 60432

    Sponsored
    For Sale
    $1,174,999

    High-traffic corner, 0.85 acres, 5 properties

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional redevelopment opportunity encompasses a 0.85-acre portfolio of five properties situated on a high-traffic corner in Joliet, Illinois, near the Joliet Prison. The portfolio includes one commercial building, two residential houses, and two vacant lots, all situated on a combined 0.85 acres. The properties are currently 100% occupied, generating immediate cash flow, and could continue operating as is. The prime location at the intersection of Collins Street and Woodruff Road offers significant potential for various commercial ventures, such as a gas station, convenience store, or restaurant. The property's Class C designation and mixed-use zoning provide flexibility for a wide range of development plans. The asking price is $1,174,999. The legal description includes multiple pins: 30-07-03-400-006, 30-07-03-400-005, 30-07-03-400-022, and 30-07-03-400-004. The property consists of one building with three units spread across a single story. Full occupancy is expected to continue until November 2nd, 2024. This is an excellent investment opportunity for developers seeking a high-return project in a desirable location.

    Property Features for 1122 Collins St

    General Information

    Property type
    Automotive properties
    Class
    C
    Lot Size
    3,485 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    3

    HighLights

    • 100% occupied, providing immediate cash flow.
    • High‑traffic corner location ideal for retail uses such as gas station, convenience store, or restaurant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Alexis Construction General Contractor

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.0722786
    Latitude
    41.5450346

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    FAQs

    What type of property is this?
    Automotive property - High-traffic corner, 0.85 acres, 5 properties
    Where is this automotive property located?
    The property is located at 1122 Collins St Joliet, IL.
    What is the asking price?
    The asking price for this property is $1,174,999.
    What are key features of this property?
    This property features: 100% occupied, providing immediate cash flow.; High-traffic corner location ideal for retail uses such as gas station, convenience store, or restaurant.;
    Request Owner's contact information
    1122 Collins St Joliet, IL 60432
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    Realmo Value Estimation

    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.

    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.

    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
    1122 Collins St Joliet, IL 60432
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