1507 1/2 W Jefferson ST, Joliet, IL 60435
1507 1/2 W Jefferson ST, Joliet, IL 60435
1507 1/2 W Jefferson ST, Joliet, IL 60435
1507 1/2 W Jefferson ST, Joliet, IL 60435
1507 1/2 W Jefferson ST, Joliet, IL 60435
1507 1/2 W Jefferson ST, Joliet, IL 60435
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Michael Bempah

Michael Bempah

The Bempah Group

+1(630) 206-9116
$ 995,000
Est. payment | /mo

10,300 SqFt

Save
$ 995,000
Est. payment | /mo
Save

10,300 SqFt

Key Details

Property Type Commercial

Sub Type Retail/Stores

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 10,300 sqft

Price per Sqft $96

MLS Listing ID 12748229

Year Built 1973

Annual Tax Amount $23,007

Tax Year 2025

Lot Dimensions 252X50

Property Sub-Type Retail/Stores

Property Description

1507 1/2 W Jefferson St presents investors with an opportunity to acquire an 10,300-square-foot multi-tenant retail property in Joliet, Illinois, combining existing cash flow with significant value-add potential through the lease-up of currently vacant space. The property is currently approximately 57% occupied, with approximately 5,900 square feet occupied and 4,400 square feet available for lease. Existing tenants represent a diversified mix of neighborhood and service-oriented uses, including a church, tobacco and vape retailer, barber shop, and childcare operation. Current contractual base rent totals approximately $103,800 annually, or $8,650 per month. Based on current underwriting, the property generates approximately $54,144 in current NOI. The primary investment opportunity is the lease-up of the property's three vacant spaces. The underwriting projects annual income increasing to approximately $212,600, with a stated pro forma NOI of $126,910, providing meaningful upside as the property moves toward stabilization. The combination of existing income, approximately 42.7% vacancy, flexible suite sizes, and a manageable 10,300-square-foot footprint makes the property particularly attractive to investors seeking a hands-on value-add retail opportunity.

Location

State IL

County Will

Area Joliet

Zoning COMMR

Interior

Cooling Central Individual

Fireplace N

Building

Dwelling Type Retail/Stores

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Charles McCann of  Keller Williams Premiere Properties 
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Michael Bempah
Michael Bempah

Broker License ID: 475.175881

+1(630) 206-9116

50 S Main St, Naperville, IL 60540, USA

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1507 1/2 W Jefferson ST

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