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(312) 788-7079
Real Estate Company
1122 Collins Street, Joliet, Illinois 60432
- $1,174,000
- List Price
- $1,174,000
- MLS#
- 12599103
- Status
- ACTIVE
- Type
- Commercial
- Subtype
- Commercial Sale
- County
- Will
- City
- Joliet
- Gross Rental Income
- 50400
- Neighborhood
- Joliet
- Days On Market
- 220
Property Description
Corner Commercial Property with Residential Income and Operational Electronic Billboard Five-parcel assemblage at Collins Street and Woodruff Road combining a commercial building, yard area, three residential rental units across two separate buildings, and an operational electronic billboard. The approximately 1,500-SF commercial building measures 30 x 50 feet per township assessor records and is currently used by the owner's roofing business with truck parking and storage. The commercial building and designated yard offer projected rental income of $3,000 per month. This is an estimate, not rent currently collected from a third-party tenant, and is subject to market demand, condition, lease terms, and permitted use. Seller is winding down operations; commercial vacancy and possession timing to be coordinated with the sale. The residential buildings contain approximately 1,230 SF and 1,602 SF of living area per township assessor records. The reported rental configuration includes a studio, a two-bedroom unit, and a three-bedroom home, generating approximately $4,200 per month combined. Assessor records also identify a 576-SF garage associated with 1124 Collins Street. Reported residential rents plus projected commercial rent provide potential gross income of approximately $7,200 monthly ($86,400 annually), before vacancy and expenses and excluding billboard income. The operational electronic billboard provides additional corner visibility, with potential to advertise the buyer's own business or generate revenue through third-party advertising. No current billboard income is represented. Located near the Old Joliet Prison, Downtown Joliet, and regional transportation routes. Seller financing may be considered for qualified buyers. Building areas are approximate and based on township assessor records. Buyer to verify parcel boundaries, total acreage, legal unit count, rents, rental projections, zoning, permitted uses, outdoor storage and vehicle parking permissions, and billboard permits and advertising rights. Roofing business, vehicles, equipment, and inventory are excluded unless separately agreed in writing.
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Additional Information
- Tax Year
- 2023
- Tax Amount
- $13,016
- Year Built
- 1900
- Lot Dimensions
- 197.8X187X197.8X187
- Air Conditioning
- Central Air
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