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423 N Chicago St

10,874 SF 90% Leased Light Industrial Building Joliet, IL 60432 £470,254 (£43/SF)

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Investment Highlights

Great Downtown Location Minutes to I-80, I-55, and close to I-355 2nd floor has concrete floors Building currently has 2 tenants

Executive Summary

This 10,874 sq ft brick and stone building, known as the Munroe Hatchery Building, is located in downtown Joliet, within walking distance of the Will County Annex Building. It includes two parcels—one for the building and a vacant lot used for parking, both zoned B-3 for versatile business use. Currently, two businesses occupy the building: an event planner in a 27x39 finished office with 13-foot ceilings, private bath, and storage, and J Pearson Heating, which uses both office and shop space across two floors, including a freight elevator and overhead door. The second floor offers potential for residential apartments. The building is in an Opportunity Zone and qualifies for various Joliet economic development programs. New roof (2020) and additional improvements make this a prime investment opportunity.

MLSPrintout

423 N Chicago 1st Floor Floor Plan

423 N Chicago 2nd Floor Floor Plan

City of Joliet Zoning Disclosures

Business Development Programs

Property Facts

Price	£470,254	Lot Size	0.21 AC
Price Per SF	£43	Rentable Building Area	10,874 SF
Sale Type	Investment or Owner User	Number of Floors	2
Sale Conditions	Tenants option to buy property	Year Built	1947
Property Type	Light Industrial	Parking Ratio	0.74/1,000 SF
Property Subtype	Light Manufacturing General Retail Storefront Retail/Residential Industrial Warehouse OfficeLoft Creative Space	Level Access Doors	1
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£470,254
Price Per SF	£43
Sale Type	Investment or Owner User
Sale Conditions	Tenants option to buy property
Property Type	Light Industrial
Property Subtype	Light Manufacturing General Retail Storefront Retail/Residential Industrial Warehouse OfficeLoft Creative Space
Building Class	C
Lot Size	0.21 AC
Rentable Building Area	10,874 SF
Number of Floors	2
Year Built	1947
Parking Ratio	0.74/1,000 SF
Level Access Doors	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

Conferencing Facility

Air Conditioning

Lighting - Fluorescent
Gas - Natural
Water - City
Sewer - City
Heating - Gas

Space Availability

1st Fl - 2
1,052 SF
Light Industrial
Full Build-Out
Now

Space	Size	Space Use	Condition	Available
1st Fl - 2	1,052 SF	Light Industrial	Full Build-Out	Now

Size

1,052 SF

Space Use

Light Industrial

Condition

Full Build-Out

Available

Now

1 of 1

Walk Score ®

Very Walkable (82)

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, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	07-09-239-003	Improvements Assessment	£40,472
Land Assessment	£10,515	Total Assessment	£50,987

PROPERTY TAXES

Parcel Number

07-09-239-003

Land Assessment

£10,515

Improvements Assessment

£40,472

Total Assessment

£50,987

zoning

Zoning Code	B3 (Property is Zoned B-3 General Business District in the City of Joliet which provides for a variety of potential uses.)
B3 (Property is Zoned B-3 General Business District in the City of Joliet which provides for a variety of potential uses.)