Contact us: 563.441.1776
Description
An excellent investment opportunity, this mixed-use property at 301 & 303 S. Ottawa Street in Joliet offers a two-story building with six total units, including one commercial space and a mix of residential layouts ranging from a studio to a three-bedroom unit. The building provides approximately 6,000 square feet of living space and sits on two parcels totaling 0.42 acres, with five off-street parking spaces. An adjacent vacant lot adds significant upside potential for future development or expansion. Featuring a strong 9.85% cap rate and an attractive price per unit of just $94,200, this asset presents exceptional value for investors seeking both cash flow and long-term upside. Many of the units have been recently renovated, with several offering brand new electrical, helping reduce future capital expenditures while enhancing tenant appeal. Located in the heart of downtown Joliet, the property benefits from strong visibility and walkable access to restaurants, entertainment, and public transportation. The site is minutes from I-80, I-55, and the Joliet Gateway Center Metra and Amtrak station, offering excellent regional connectivity. Nearby attractions, including the Rialto Square Theatre, local casinos, and the Des Plaines Riverwalk, further support tenant demand. Positioned in a growing market with diverse employment drivers, this property offers a compelling combination of stable income, recent improvements, and value-add potential. Seller is a licensed real estate broker.
Property Highlights
Property Type: Commercial - Business
Building Description: 2.0 stories
Year Built: 1900
General Information
County: Will
Listed By:
Crosstown Realtors, Inc.
815-249-1018
MRED MLS
MLS ID: 12620314
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301 S Ottawa Street , Joliet, IL 60436.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $600,000 | $600,000 | $600,000 |
| Down Payment | $120,000 | $21,000 | $150,000 |
| Monthly Mortgage Amount | $2,839 | $3,532 | $3,677 |
| Taxes | $835 | $835 | $835 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $264 | $0 |
| Monthly Estimated Total | $3,849 | $4,806 | $4,687 |
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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. Information on this site was last updated 04/17/2026. The listing information on this page last changed on 04/17/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Fri 04/17/2026 12:02:09 AM EST) or MRED MLS (last updated Thu 04/16/2026 11:57:57 PM EST) or SCWMLS (last updated Thu 04/16/2026 11:54:38 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Thu 04/16/2026 10:16:31 PM EST) or Cedar Rapids MLS (last updated Thu 04/16/2026 10:44:14 PM EST) or NEIRBR MLS (last updated Thu 04/16/2026 11:58:42 PM EST) or ICAAR MLS (last updated Thu 04/16/2026 11:37:29 PM EST) or ECIMLS (last updated Thu 04/16/2026 11:44:15 PM EST) or RMLSA (last updated Fri 04/17/2026 12:00:58 AM EST) or Muscatine MLS (last updated Fri 04/17/2026 12:00:24 AM EST) or No Coast MLS (last updated Thu 04/16/2026 11:54:22 PM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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