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$165,000
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Property Description
For sale stands an exceptional commercial building, representing a rare and enticing investment opportunity. Currently zoned under C4, it holds a specialized permit for operation as a tavern. It's worth noting that in this area Will County has ceased issuing such licenses, rendering this establishment a true gem. The owner's proactive approach ensured meticulous compliance with all necessary paperwork, securing grandfathered status for the premises. Furthermore, situated in unincorporated Joliet and benefitting from favorable tax rates, the property presents an attractive investment proposition. A standout feature is its impeccable maintenance history. A dedicated team has consistently updated and cared for major components such as air conditioning, heating systems, and roofing, guaranteeing a hassle-free experience for owners. This commitment underscores the reliability and longevity of the asset, making it an even more compelling investment opportunity. With a vibrant tavern occupying the lower level and the potential for up to eight apartments upstairs, this property offers a myriad of revenue streams. Serious investors and those seeking a unique venture are encouraged to delve deeper into this remarkable opportunity, poised to yield both financial returns and long-term value.
Full Property Details
Full Property Details for 111 Patterson Rd
General
- Sold For: $165,000
- Taxes: $3,188 (2022)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12019761
- Added to Site: 648 day(s) ago
Additional Information
- Security/Safety: Alarm on Site, Fire Extinguisher(s)
Parking
- Parking Features: 51 to 100 Spaces
Location
- Area: Joliet
- County: Will
- Driving Directions: i-80 ramp to Indiana, exit 132s for us52 e/ il-53/chicago st, right on il-53 s/ us-52 e/chicago st, right on patterson rd
- Location Details: Southwest Suburban
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window Unit(s)
- Heating Type: Central Building Heat
Structural Information
- Stories/Levels: 2
- Current Bldg. Use: Commercial, Special Use
- Year Built: 1953
- Built Before 1978: Yes
Lot Features
- Lot Size (Sq. Ft.): 4,232
- Lot Dimensions: 37500
- Frontage: Public Road
- Potential Use: Commercial
- Zoning: COMMR
Financial Considerations
- Lease Price: $1
- Security Deposit: Alarm On Site, Fire Extinguisher/s
- Assessment Year: 1953
- Tax Amount: $3,188.52
- Tax Year: 2022
- Tenant Pays: Varies by Tenant
Disclosures and Reports
- Property ID: 3007212120090000
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Schools
Schools serving 111 Patterson Rd
School Districts:Joliet Public School District 86, Joliet Township High School District 204
| Name | Grades | Distance |
|---|---|---|
Farragut Elementary School 701 Glenwood Avenue, Joliet, IL 60435 | K-5 | 1.8 mi |
Dirksen Junior High School 203 South Midland Avenue, Joliet, IL 60436 | 6-8 | 1.8 mi |
Joliet West High School 401 North Larkin Avenue, Joliet, IL 60435 | 9-12 | 2.6 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 111 Patterson Rd
Date
Details
Price
Change
Source
11/07/2024
Sold
$165,000
-58.75%
MLS
7/08/2024
Price Reduced
$399,999
-5.88%
MLS
6/03/2024
Price Reduced
$425,000
-22.73%
MLS
4/10/2024
Listed
$550,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
111 Patterson Road, Joliet, IL 60436 (MLS# 12019761) is a Commercial property that was sold at $165,000 on November 07, 2024. Want to learn more about 111 Patterson Road? Do you have questions about finding other Commercial real estate for sale in Joliet? You can browse all Joliet real estate or contact a Coldwell Banker agent to request more information.


