About The Property Very rare opportunity to purchase a 2 building, 8-unit rowhouse portfolio in Joliet, IL with huge value-add opportunity. The property consists of four 2-bedroom units and four 1-bedroom units. While the units are all in rentable condition, the owner has minor deferred maintenance items. Using the first few months excess cashflow, a new owner could reinvest in taking care of these various items and increase the value of the property and also rents. Current rents are drastically below market rate. About The Neighborhood Joliet's historic Cathedral District is one of the most desirable locations in the City of Joliet. The city maintains a diverse blue-collar work force with the local economy being propped up by 2 major casinos; Harrah's and the Hollywood Casino. Rental prices have been steadily increasing and vacancies have been reaching historic lows with the limited existing rental inventory available. Will County's relatively lenient tenant laws and lower property taxes have made it a hotbed for investors in the past few years with properties commanding cap rates hovering around the 6% mark.
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For more information about 1011-1015 N Broadway, Joliet, IL 60435 contact Corcoran Urban Real Estate.
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Listing provided by Citypoint Illinois LLC
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