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423 N Chicago St

10,874 SF 90% Leased Flex Building Joliet, IL 60432 $599,500 ($55/SF)

Investment Highlights

  • Great Downtown Location Minutes to I-80, I-55, and close to I-355 2nd floor has concrete floors Building currently has 2 tenants

Executive Summary

This 10,874 sq ft brick and stone building, known as the Munroe Hatchery Building, is located in downtown Joliet, within walking distance of the Will County Annex Building. It includes two parcels—one for the building and a vacant lot used for parking, both zoned B-3 for versatile business use. Currently, two businesses occupy the building: an event planner in a 27x39 finished office with 13-foot ceilings, private bath, and storage, and J Pearson Heating, which uses both office and shop space across two floors, including a freight elevator and overhead door. The second floor offers potential for residential apartments. The building is in an Opportunity Zone and qualifies for various Joliet economic development programs. New roof (2020) and additional improvements make this a prime investment opportunity.

Property Facts

Price $599,500
Price Per SF $55
Sale Type Investment or Owner User
Sale Conditions Lease Option
Property Type Flex
Property Subtype
Light Manufacturing
  • General Retail Storefront Retail/Residential
  • Industrial Warehouse
  • OfficeLoft Creative Space
Building Class C
Lot Size 0.21 AC
Rentable Building Area 10,874 SF
No. Stories 2
Year Built 1947
Parking Ratio 0.74/1,000 SF
No. Drive In / Grade-Level Doors 1
Opportunity Zone Yes

Amenities

  • Conferencing Facility
  • Air Conditioning

Utilities

  • Lighting - Fluorescent
  • Gas - Natural
  • Water - City
  • Sewer - City
  • Heating - Gas

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl - 2
  • 1,052 SF
  • Flex
  • Full Build-Out
  • Now
Space Size Space Use Condition Available
1st Fl - 2 1,052 SF Flex Full Build-Out Now

1st Fl - 2

Size
1,052 SF
Space Use
Flex
Condition
Full Build-Out
Available
Now
Walk Score ®
Very Walkable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
07-09-239-003
Land Assessment
$13,405
Improvements Assessment
$51,595
Total Assessment
$65,000

zoning

Zoning Code B3 (Property is Zoned B-3 General Business District in the City of Joliet which provides for a variety of potential uses.)
B3 (Property is Zoned B-3 General Business District in the City of Joliet which provides for a variety of potential uses.)
  • Listing ID: 31230434

  • Date on Market: 3/15/2024

  • Last Updated:

  • Address: 423 N Chicago St, Joliet, IL 60432

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