Four-Unit Apartment
916 Parkwood Drive, Joliet, IL 60432
For Sale
Contact for pricing
Resident amenities include an on-site laundry facility and off-street parking.
Property Size4,000 SF
Lot Size0.19 Acres
Price / SF$143.75
Days on Market34
Property Features for 916 Parkwood Drive
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
Listing Agency:
Horvath & Tremblay
Listed By:
Thomas Shanley · License #IL 475207055
(312) 957-7189
Source:
Crexi
Added: Oct 7
Changed: Nov 8
Last Checked: Nov 8 at 2:45PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-story apartment property in Joliet comprises four units, each configured with two bedrooms and one bathroom. The building contains 3,500 square feet of gross living area within 4,000 square feet of gross area. An on-site laundry facility and eight off-street parking spaces serve the property, which occupies a 0.19-acre parcel.
The property is located near Interstate 80, Interstate 355, and US Routes 6 and 30, providing connections across the southwest Chicago metropolitan area. Joliet employment corridors, retail destinations, and residential areas are also identified in the surrounding market context.
The property is located near Interstate 80, Interstate 355, and US Routes 6 and 30, providing connections across the southwest Chicago metropolitan area. Joliet employment corridors, retail destinations, and residential areas are also identified in the surrounding market context.
Key Highlights
- Four apartments, each with two bedrooms and one bathroom
- 3,500 square feet of gross living area; 4,000 square feet of gross area
- Multi‑story building on a 0.19‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,561
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,220
$851.2K
Cap Rate 7%
$608,014
$608.0K
Cap Rate 9%
$472,900
$472.9K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$64.8K $16.20/SF
− Vacancy
−$4.0K −$1.00/SF
EGI
$60.8K $15.20/SF
− OpEx
−$18.2K −$4.56/SF
NOI
$42.6K $10.64/SF
Area
Joliet, IL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,220
Cap Rate 7%
$608,014
Cap Rate 9%
$472,900
Alternative Uses
Best Use
Multifamily LT 5
$608.0K
$532.0K – $709.4K
NOI $42,561 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$560.7K
$490.6K – $654.1K
NOI $39,248 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,560 @ 7.0% cap · market cap 14.36%
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
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 60432, IL
19,989
Population
7,287
Households
2.7
Avg Household Size
33
Median Age
13%
College-Educated
65%
High-School Grad
8.5 sq mi
ZIP Area
2,352
Density / Sq Mi
$64,099
Median Household Income
$33,920
Median Earnings
$1,261
Median Rent
$185,100
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?
Quadplex - Resident amenities include an on-site laundry facility and off-street parking.
Where is this quadplex located?
The property is located at 916 Parkwood Drive Joliet, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four apartments, each with two bedrooms and one bathroom; 3,500 square feet of gross living area; 4,000 square feet of gross area; Multi‑story building on a 0.19‑acre parcel
