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    1220 Richards St Joliet, IL 60433

    Sponsored
    For Lease
    $12 SF/Yr

    4,000 sq ft Retail Restaurant Space

    Lot size:
    4,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 4,000-square-foot restaurant space is situated within a multi-tenant retail plaza at 1220 Richards St, Joliet, IL. The plaza, built in 1980, encompasses approximately 25,000 square feet on a 3.58-acre corner lot, offering ample parking. Recent exterior painting enhances the property's curb appeal. The property benefits from a complementary mix of four other local tenants, creating a synergistic retail environment. Anchored by Family Dollar, this highly visible location enjoys strategic placement near the intersection of Richards St and Mills Rd. Surrounded by dense residential neighborhoods, the property boasts a readily available customer base. Its convenient location is approximately half a mile east of 53/S Chicago St, less than two miles from Interstate 80, and conveniently close to public transportation (bus stops). Joliet, the third most populous city in Illinois, and located in Will County, provides a strong market for this retail opportunity. This single-tenant space presents a compelling opportunity for a restaurant operator seeking a well-located, established space within a thriving community.

    Property Features for 1220 Richards St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,000 SF

    Unit(s) available at that property

    Space
    Size
    4,000 SF
    Rate per SF
    $12

    HighLights

    • Retail space totaling 4,000 square feet.
    • Single‑tenant restaurant space available.
    • Located in a multi‑tenant retail plaza in Joliet, Will County, IL.
    • High‑visibility location near the intersection of Richards St and Mills Rd, anchored by Family Dollar.
    • Surrounded by high‑density residential neighborhoods.
    • Convenient access to I‑80 and public transportation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Louisiana Barbeque Barbecue Restaurant J J Fish ... Seafood Restaurant Warehouse Workers For Justice Association / Organization Splish Splash Laundromat--Richards ... Laundromat

    Suggested Use

    Restaurant Law Firm Spa & Massage Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Pharmacy Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.0699898
    Latitude
    41.501846

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    FAQs

    What type of property is this?
    Restaurant - 4,000 sq ft Retail Restaurant Space
    Where is this restaurant located?
    The property is located at 1220 Richards St Joliet, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Retail space totaling 4,000 square feet.; Single-tenant restaurant space available.; Located in a multi-tenant retail plaza in Joliet, Will County, IL.
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    1220 Richards St Joliet, IL 60433
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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
    1220 Richards St Joliet, IL 60433
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