373 Western AveJoliet, IL 60435

For Sale
$2,156,000

91+ Units, Prime Downtown Location

Overview

Added:
Feb 3
Days on market:
40
This exceptional investment opportunity presents a substantial 12-story brick building situated on a corner lot at 373 Western Avenue in Joliet, Illinois. The property, formerly the Mary Walter Hotel, boasts a commanding presence as one of the tallest structures in the city. Comprising over 91 units, the building offers a diverse mix of studio, one-bedroom, and single-room occupancy (SRO) apartments, presenting significant potential for rental income. The building's substantial size and prime downtown location offer considerable upside for a savvy investor. All offers are subject to court approval. The property is currently being marketed by a receiver. Prospective buyers are encouraged to schedule a showing in advance. Showings are available on Mondays at 10:30 AM, 11:30 AM, or 12:30 PM, and Wednesdays at 10:30 AM, 11:30 AM, or 12:30 PM. Please refrain from visiting the property without prior contact and scheduling. The total square footage is 50,000 square feet. The listed price is $2,156,000. This is a rare chance to acquire a landmark building with significant potential for redevelopment or continued operation as a multi-unit residential property. The building's history and prominent location make it an attractive investment prospect.

Property Details for 373 Western Ave

Property type
Other commercial real estate
Square Feet
50 SF
Year Built
1923

Location Insight

City
Joliet
County
Will
State
Illinois
Latitude
41.52833
Longitude
-88.09097
373 Western Ave, Joliet, Illinois

FAQs

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373 Western Ave
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