256 Nicholson Street

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256 Nicholson Street

Joliet, IL 60435
Asking Price
Contact for price
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Located at 256 Nicholson Street in Joliet, Illinois.
  • Multifamily apartment building available for purchase.
  • Property situated within the greater Chicago metropolitan area.
  • Positioned in a region with diverse employment sectors.
  • Well-suited for investors targeting residential rental income.

What's Special

This multifamily apartment building at 256 Nicholson Street serves as a functional residential asset within the Joliet, Illinois market. The property occupies a strategic position in a city known for its industrial roots and steady population growth within the Chicago metropolitan area. Joliet remains a significant regional hub, supported by a diverse employment base and efficient access to major regional transportation corridors that connect the city to the broader Midwest economy. Apartment buildings in this submarket provide consistent housing options for the local workforce and residents seeking proximity to essential services. An investor or owner-operator could utilize this property to maintain residential occupancy levels while capitalizing on the steady demand for rental housing in Will County. The asset offers a clear value proposition for those looking to expand their residential real estate holdings in a established suburban community.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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