1610 Chicago StJoliet, IL 60436

For Sale
$700,000

Established business, high NOI, strong lease.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a thriving, established auto dealership located in Joliet, Illinois. The property consists of two parcels, totaling between one and 1.2 acres of prime street-front land at 1610 and 1620 S Chicago St, Joliet, IL 60436. The combined space offers 2,222 to 2,777 square feet of well-maintained retail space, currently operating under a gross lease with a credit-rated tenant. The property is zoned C-3 and C-44, allowing for a variety of uses. The current lease is a 5-year term with 4 years remaining, ensuring a stable income stream. The business boasts 100% occupancy since January 1st, 2023, generating a Net Operating Income (NOI) of $5,000 annually, resulting in a 0.71% cap rate. This is a single-tenancy, net lease investment, ideal for passive income seekers. The asking price for this turnkey operation is $700,000. This is a rare opportunity to acquire a well-established, profitable business with significant growth potential in a desirable location. Don't miss out on this exceptional investment opportunity.

Highlights

  • Thriving, established auto dealership in Joliet, IL.
  • Two parcels totaling 1-1.2 acres of prime street-front land at 1610 & 1620 S Chicago St.
  • 2,222-2,777 SF of well-maintained retail space under a gross lease with a credit-rated tenant.
  • C-3 & C-44 zoning allows for diverse uses.
  • 5-year lease with 4 years remaining, generating $5,000 annual NOI and a 0.71% cap rate.
  • $700,000 asking price for this single-tenancy, net lease investment.

Property Details for 1610 Chicago St

Property type
Other retail properties, Individual retail properties
Square Feet
2,222 SF
Class
A
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Joliet
County
Will
State
Illinois
Latitude
41.4945895
Longitude
-88.0801309
1610 Chicago St, Joliet, Illinois

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1610 Chicago St
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