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    1127 Chicago St Joliet, IL 60436

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    For Lease
    Contact for pricing

    Secure, illuminated industrial yard; excellent location.

    Lot size:
    217,800 SF

    Property Features for 1127 Chicago St

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    217,800 SF
    Class
    B
    Total Rate
    42000

    Spaces For Lease

    at 1127 Chicago St, Joliet, IL 60436 Contact us
    Unit

    $42,000 /Mo

    Size
    217,800 SF
    Contact us

    We can help!

    Listing Contact
    Mark Koenig
    Mark Koenig

    Listing Agency: The Koenig Group Inc Listing Agent: Mark Koenig

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 5-acre industrial property, located at 1127 S Chicago St, Joliet, IL 60436 (Route 53 & Mills Road), offers a prime opportunity for businesses needing secure and well-maintained yard space. The property is classified as Class B and features a single tenancy. The expansive 217,800 square foot lot is fully graveled, fenced, gated, and illuminated, ensuring optimal security and visibility. Concrete dolly pads are included for added convenience. The site boasts a coded-automatic gate system for enhanced security and features electric service readily available. A stop light at the entrance and exit provides safe and efficient access to Route 53. The location offers unparalleled accessibility, situated just 3/4 of a mile from the I-80 & Route 53 interchange, and a convenient 2.5 miles from CenterPoint Properties and the Union Pacific Railroad Intermodal. The property is zoned I-1 by the City of Joliet. The asking price is $3,500 per acre per month, totaling $17,500 per month. This property is ideal for businesses requiring ample secure outdoor storage or staging areas with easy access to major transportation arteries.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chicago Street CCDD, ... Recycling Center

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.080992468159
    Latitude
    41.502577175717

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    FAQs

    What type of property is this?
    Land - Secure, illuminated industrial yard; excellent location.
    Where is this land located?
    The property is located at 1127 Chicago St Joliet, IL.
    What is the lease rate?
    The lease rate is $42,000.
    What are key features of this property?
    This property features: 5-acre industrial land parcel.; Single-tenant occupancy.; Located at 1127 S Chicago St, Joliet, IL 60436 (Route 53 & Mills Road).
    (815) 546-1679 Call to check price and availability
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    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
    1127 Chicago St Joliet, IL 60436
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mark Koenig
    Mark Koenig
    Real Estate License ID: 478026671
    (815) 546-1679
    Learn more
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