808 2nd Ave, Unit 816 Joliet, IL 60433-1239

Property Details for 808 2nd Ave

Year built

1916

Lot size

0.57 lot acres

Property type

Commercial real estate

APN

30-07-14-108-015

APU

300714108015

Description

This exceptional multifamily investment property, located at 808 2nd Avenue in Joliet, Illinois, presents a compelling opportunity for discerning investors. The two-story brick building boasts twenty (20) one-bedroom, one-bathroom units, totaling 13,500 square feet of living space within a 15,000 square-foot building footprint. Situated on a 1.05-acre lot, the property enjoys a highly desirable location on 2nd Avenue, bordering a dense residential neighborhood. Benefitting from recent upgrades including newer copper water lines and electrical panels, the property also features electric heat and a significant number of garages (15). Its proximity to Downtown Joliet (1 mile) and the Lincoln Highway (US Route 30, 0.7 miles) provides excellent access to a thriving commercial corridor. Residents enjoy convenient access to a wide array of amenities, including employers, medical facilities, municipal services, grocery stores, restaurants, retail options, schools, and recreational areas. Commuting is simplified by its proximity to the Joliet Transportation Center, offering METRA and Pace bus services, as well as easy access to major highways including US Routes 6, 30, and 52, and Interstates 80 and 55. This property offers a strong 8%+ cap rate, making it an attractive investment in the growing city of Joliet, the third largest city in Illinois, conveniently located 30 miles southwest of Chicago's Loop.

Location Insight

City

Joliet

County

Will

State

Illinois

Longitude

-88.0612

Latitude

41.5206

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments