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1401-1409 Cornelius Ave , Joliet, IL 60433
$1,049,500
Est. Payment: $5,631.06/mo
18452 Sqft
2.1 Acres
Status: price change | Days on site: 63
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House 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"

Highlights

Listed by Thomas Mulvey , 815-791-6426 Dow Realty , 815-730-1900. Midwest Real Estate Data mls logo

Property Type

Commercial Sale

Lot/Acreage
2.1

Year Built

1915

County

Will

Area

Joliet

Listing ID

12740771

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Interior Features

Air Cond:Central Individual
Fireplaces:
Water:Shared Well

Exterior Features

Lot Dimensions:91506
Zoning:INDUS
Roof:Metal
Parking Features:Unpaved,19-30 Spaces
Principal Interest
$5,631
Taxes
$341

Home Price

$1,049,500

Loan Details

30 yrs
7.08%

Down Payment

20%
$209,900
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:
$5,631.06

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,631.06 $341.03 $0.00 $5,972.09
Yearly $67,572.75 $4,092.30 $0.00 $71,665.05
Total $2,027,182.37 $122,769.00 $0.00 $2,149,951.37
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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: 2026-10-27T00:56:05.000Z

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