1401-1409 Cornelius Avenue Joliet, IL 60433 • Commercial - Industrial • Active $1,195,000

Description

Unique Mixed Use Property situated on 6 lots. 5 Lots are located in the City of Joliet and encompass multiple structures of warehouses and residential(apartment unit dwellings). Total of approximately 18,500 square feet of building area on approximately 2 acres. There are a total of four apartment units with the balance of the building area being divided into 8 warehouse/storage units. There is additional rear parking at the North end of the propert where there is a storage container unit that is included and it rents for $250.00 a month and is included in the Financial Information. There is potential access to the back parcel as well as there is approximately 125 feet of frontage on Newton Avenue. The 6th lot is not in the City of Joliet but is in unincorporated Joliet Township,pie shaped and adjacent to the back open area, and is approximately 0.34 of an acre. It is zoned R-5 Single Family Residence. The property was home to SCI Funeral Service of Tex, Inc when it was annexed into the City of Joliet in 1994. The largest of the Warehouse Units is 6,668 square feet with high ceilings. Cornelius dead ends into the property and the large parking area. A new roof was installed in 2024. Of the 4 apartments, 3 are 1 bedroom and one is a studio. The warehouse/storage units are all of similar quality with concrete floors, metal or block walls, metal and asphalt shingle roofs and each one having at least one overhead door and electrical service. The warehouse/storage units do not have plumbing service, nor are they heated or insulated. The residential units have their own parking and there is a large greenway area in front of the building. The zoning disclosures are attached for all 6 parcels under additional information. The property is also located in the Federal Opportunity Zone with all the related tax benefits. The allowed uses under I-1 by the City of Joliet are also attached under additional information, which include B-3 uses according to the disclosure. Currently 10 of the 12 units are rented, the two that are vacant include Unit 1403 which is 6,668 square feet and was the used by the owner for his roofing business, the other vacant unit is 1403 E which was used by the owners daughter and is 1,584 square foot. There is no income reflected in the financials for these two units. The property has City of Joliet Sewer with a community well which is on the property. The well provides water for the subject property as well as 5 other homes in the neighborhood. 4 of the homes pay $40.00 per month , the 5th is related to the seller and is not charged for water service. The owner pays all utilities except 3 of the apartment tenants pay their own electric bill and they have central air conditioning. The is an unique opportunity for a large amount of rentable square footage for a great value.!!! The property is being sold as is

Property Highlights