Description
Well-Maintained Vintage Brick Three-Flat Offering Spacious Units, 4-Car Garage, and Strong Income Potential. Pride of ownership is evident throughout this solid all-brick legal 3-unit building, owner-occupied and carefully maintained by the same family for more than 25 years. Unlike many investment properties, this building has benefited from long-term stewardship and ongoing maintenance, making it an exceptional opportunity for both investors and owner-occupants. Major capital improvements have already been completed, including replacement windows throughout the top and main units, a newer furnace and water heater (approximately 3 years old), and a roof replaced approximately 10 years ago. Ideally located just minutes from Downtown Joliet with convenient access to I-80 via both Richards Street and Briggs Street corridors, the property offers easy commuting throughout the Chicagoland area while remaining close to shopping, dining, employment centers, schools, and public transportation. The building features approximately 2,885 square feet of living space across three legal units, including a spacious 1,056 sq. ft. top-floor unit, a 1,079 sq. ft. main-floor unit, and a 750 sq. ft. garden unit. Additional amenities include enclosed rear porches providing valuable tenant storage, a shared laundry area, and a highly desirable 4-car detached garage with individual overhead doors, offering additional income potential and a feature seldom found in comparable multifamily properties. For owner-occupants, this property presents an outstanding opportunity to live in one unit while rental income from the remaining units helps with mortgage and living expenses. For investors, the building offers immediate cash-flow potential from day one with strong rental demand, separate electric service to each unit, and market rents in the area typically ranging from approximately $1,300 to $1,600 per unit. The combination of solid brick construction, large unit sizes, extensive mechanical updates, garage income potential, and a convenient commuter-friendly location creates a compelling value proposition for anyone seeking long-term wealth building through real estate. Ready to produce passive income from the moment you close. Property is Being Sold As-Is.
Details
| MLS # | 12736852 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1900 |
| Days On Site | 9 |
| Listing Provided By | Coldwell Banker Realty | Robert Martinez |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 |
| Garage | 4 |
| Basement | Y |
| Zoning | MULTI |
| Acreage | 6465.00 |
Interior
| Rooms Total | 18 |
|---|---|
| Heating | Natural Gas |
Exterior
| Exterior Features | Balcony |
|---|---|
| Roof | Asphalt |
| Foundation Details | Concrete Perimeter |
| Construction Materials | Brick |
Parking
| Parking Features | Yes, Garage Owned, Detached, Driveway, Owned, Garage |
|---|---|
| Garage Spaces | 4 |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Sidewalks, Street Lights, Street Paved |
|---|
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 4414 |
Area Information
| State | IL |
|---|---|
| County | Will |
| City | Joliet |
| Zip Code | 60432 |
| Area | Joliet |
| School District | Joliet Central High School |
| Elementary School | Woodland Elementary School |
| High School | Joliet Central High School |
| Listing VS Median (in 60432) | |
Price: $329,900 low | high Med: $272,450 On site: 9 low | high Med: 58.5 | |
Market Activity 60432
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Learn More About This Property
| State | IL |
|---|---|
| County | Will |
| City | Joliet |
| Zip Code | 60432 |
| Area | Joliet |
| School District | Joliet Central High School |
| Elementary School | Woodland Elementary School |
| High School | Joliet Central High School |
| Listing VS Median (in 60432) | |
Price: $329,900 low | high Med: $272,450 On site: 9 low | high Med: 58.5 | |
