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About the Listing 22039 - 240851,254713,246304
1507 1/2 W Jefferson St presents investors with an opportunity to acquire an 10,300-square-foot multi-tenant retail property in Joliet, Illinois, combining existing cash flow with significant value-add potential through the lease-up of currently vacant space. The property is currently approximately 57% occupied, with approximately 5,900 square feet occupied and 4,400 square feet available for lease. Existing tenants represent a diversified mix of neighborhood and service-oriented uses, including a church, tobacco and vape retailer, barber shop, and childcare operation. Current contractual base rent totals approximately $103,800 annually, or $8,650 per month. Based on current underwriting, the property generates approximately $54,144 in current NOI. The primary investment opportunity is the lease-up of the property's three vacant spaces. The underwriting projects annual income increasing to approximately $212,600, with a stated pro forma NOI of $126,910, providing meaningful upside as the property moves toward stabilization. The combination of existing income, approximately 42.7% vacancy, flexible suite sizes, and a manageable 10,300-square-foot footprint makes the property particularly attractive to investors seeking a hands-on value-add retail opportunity.
Listing Highlights for 1507 1/2 W Jefferson St
Interior Details
- Appliances:
- Air Cond: Central Individual
- Heating: Forced Air
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 252X50
- Zoning: COMMR
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $23,007
- Taxes w/Assessments: N/A
- Tax/Property ID: 3007083120051001
- Tax Year: 2025
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Monthly Payment
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Listing Location
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1507 1/2 W Jefferson St Joliet, IL 60435
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