Joliet, IL 60435 1513 Essington Road

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  • MLS# 12399792
  • 06/23/2025
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  • SQFT • 11,842

Home Details

Nestled in a highly desirable area, this attractive commercial property offers a total of approximately 11,842 SF, comprising 8 office units/condos. Currently, the property is fully leased to four tenants, including three in the esteemed medical sector, making it a promising investment with reliable income streams. Property Highlights: Flexible Lease Structures: Each tenant manages their own utilities and insurance. The lease agreements are structured to accommodate various needs-from modified gross to triple net leases-ensuring stability and flexibility for investors. Potential for Expansion: Originally designed for 8 units, the property was subdivided into only 4 tenants. This configuration provides an exceptional opportunity to maximize income by reverting to the original 8-unit layout if tenants choose to downsize, unlocking higher income potential and future growth. Immediate Income & Stability: Fully leased with long-term agreements, the property guarantees immediate cash flow. The tenant mix and lease terms contribute to a stabilized income stream. Unique Investment Advantages: Diversified Tenant Base: All suites are currently leased, including a major national corporation with a multi-year sub-rent agreement for virtual and in-person office spaces. This anchor tenant ensures long-term demand and recurring revenue. Low Maintenance & High Return: The building is well-maintained and strategically configured to minimize operational costs while maximizing leasing efficiency. Strategic Location: Joliet is one of the fastest-growing markets in the southwest Chicago metro area, boasting excellent transportation access via I-80 and I-55, strong infrastructure, and a thriving business ecosystem. Why Invest in Joliet? Joliet continues to attract logistics firms, professional services, and expanding small businesses due to its strategic location, affordability, and ongoing municipal development. This property is well-positioned to benefit from both current tenant stability and future appreciation. Additional Highlights: Fully occupied with long-term tenants Owner motivated to sell due to relocation Opportunity for 1031 exchange buyers and experienced investors seeking solid returns Don't Miss This Rare Opportunity! Whether you're an experienced investor seeking strong, stable returns or a company looking for a managed asset in a high-growth corridor, this property offers excellent potential. Contact us today for a detailed financial packet, rent roll, and private showing. Serious inquiries only.
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Interior Features for 1513 Essington Road

Other Interior Features

FlooringCarpet, Vinyl

General for 1513 Essington Road

Additional Parcels Y/NYes
Cap Rate12.7
CityJoliet
Construction MaterialsBrick, Stone
CoolingCentral Air
CountyWill
Current UseMedical/Dental
DirectionsTheodore St to Essington Rd north to address
ElectricCircuit Breakers, Power - 240V, Heavy Power 1200+ Amps
Gross Income388000
Leasable Area11842
Lot Size Square Feet55335
MLS AreaJoliet
ModificationTimestamp2025-06-29T05:07:20.599Z
Net Operating Income317400
Number Of Units Total4
Operating Expense51200
PossessionClosing
Property SubtypeBusiness
Property TypeCommercial Sale
Property TypeOffice/Tech
RoofComposition
Standard StatusActive
StatusActive
Stories1
Tax Annual Amount43887.88
Tax Year2024
Tenant PaysAir Conditioning, Electricity, Heat, Insurance
TownshipJoliet
Year Built2006

Exterior for 1513 Essington Road

Building Area Total11842
Frontage TypeCity Street, Public Road
Lot Dimensions150 X 368.9

Additional Details

Price History

Client Care

Price $2,495,000
MLS#12399792
List Date 06/23/2025
Property Type Commercial
Phone 847.485.2500
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