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sales rep | Brivity IDX

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101 Nicholson St , Joliet, IL 60435
$925,000
Est. Payment: $4,963.06/mo
0.25 Acres
Status: contingent | Days on site: 34
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88268 - 1012540,249490
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House Description

Exceptional opportunity to acquire a well-maintained 6-unit townhouse-style multifamily investment in Joliet, Illinois. Unlike traditional apartment buildings, each residence is a true two-story townhouse featuring 2 bedrooms, 1.5 bathrooms, and a full private unfinished basement. Every unit includes a spacious living room, kitchen, and half bath on the first floor, with two bedrooms and a full bathroom upstairs. This highly desirable townhouse layout consistently attracts long-term tenants and commands stronger rents than conventional flat-style apartments. The property comes with a strong collection history, providing dependable day-one cash flow. Immediate flexibility for a new owner to gradually adjust rents toward market levels as turnover occurs. Current rents average approximately $1,370 per month, while comparable 2-bedroom townhouse rentals in the Joliet market achieve $1,700+ per month. This creates approximately $23,700 in additional annual gross rental income through rental repositioning alone, providing a clear and attainable value-add opportunity. Operating expenses are straightforward. Tenants responsible for their own electric service, while ownership is responsible for gas, water, and trash service, simplifying management while maintaining competitive rental rates. Recent capital improvements substantially reduce future maintenance obligations and include: New mansard roof (2023) New EPDM flat roof Three fully renovated units with updated flooring, paint, shower surrounds, and hardware Concrete leveling completed (2025) New asphalt driveway (2024) Exterior improvements completed Passed City of Joliet inspection (2025) Additional amenities include 12 off-street parking spaces, providing two dedicated parking spaces for each townhouse. This is a true turnkey investment with immediate income, limited deferred maintenance, and substantial upside through rental growth rather than capital improvements. Investment Highlights Six townhouse-style units All units are true 2-bedroom, 1.5-bath layouts Full private unfinished basement for every unit Strong rent collection history Average in-place rent: approximately $1,370/month Market rent potential exceeding $1,700/month Approximately $23,700 annual rental upside Tenants responsible for own electric Owner responsible for gas, water, and trash Twelve parking spaces (2 per unit) Significant recent capital improvements City of Joliet inspection passed in 2025 Whether you're expanding an existing portfolio or completing a 1031 exchange, 101 Nicholson Street offers stable cash flow today with a clear path to increased income and long-term appreciation.

Highlights

Listed by Jonathan Minerick , 888-400-2513 Homecoin.com , 888-400-2513. Midwest Real Estate Data mls logo

Property Type

Multi-Family

Lot/Acreage
0.25

Year Built

1971

County

Will

Area

Joliet

Listing ID

12751098

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Interior Features

Air Cond:Window Unit(s)
Fireplaces:
Basement:Unfinished,Concrete

Exterior Features

Lot Dimensions:122x84x131x88
Zoning:MULTI
Roof:Composition,Rubber
Parking Features:6-12 Spaces,Parking On-Site,Parking-Street
Principal Interest
$4,963
Taxes
$1,015

Home Price

$925,000

Loan Details

30 yrs
7.08%

Down Payment

20%
$185,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,963.06

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,963.06 $1,015.00 $0.00 $5,978.06
Yearly $59,556.73 $12,180.00 $0.00 $71,736.73
Total $1,786,701.95 $365,400.00 $0.00 $2,152,101.95
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Master Chief
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Market insight data is pulled from the same city as the listing being viewed (Joliet, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-10-27T04:57:04.000Z

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