Date
Details
Price
Change
Source
11/03/2025
Listed
$615,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/4
$615,000 Contingent
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/4
Property Description
MULTIPLE OFFERS RECEIVED - We will be doing a Highest & Best by 11/6 at 6:00PM. Turnkey 4-Unit Investment Opportunity in Prime Joliet Location! Welcome to 509 Kungs Way - a well-maintained brick 4-unit offering a strong rent roll and updated interiors. The property features three 2-bed/1-bath units and one 1-bed/1-bath unit, with modern finishes and reliable tenants. Current gross income of $71,400 annually, with additional coin laundry income and room for future rent growth. Owner pays gas and water; tenants pay electric. Major capital improvements include a newer roof (2015) and boiler system in solid condition. Ideal for both seasoned investors and first-time buyers looking to start or expand a portfolio. Live in one unit and let the other three pay your mortgage while building long-term equity. Located in a quiet, desirable pocket of Joliet with easy access to I-55, I-80, downtown amenities, and major developments like the Rock Run Collection and new Hollywood Casino project.
Full Property Details
Full Property Details for 509 Kungs Way
General
- Price: $615,000
- Taxes: $11,260 (2024)
- Status: Contingent
- Type: Multi-Family
- Source: MRED
- MLS ID: 12509532
- Updated: 11/7/2025
- Added to Site: 75 day(s) ago
Interior
- Basement: Other, Part
Rooms
Bathrooms
- Total Bathrooms: 4
- Upper - Full Baths: 4
Bedrooms
- Total Bedrooms: 7
Additional Information
- Other Features: School Bus Service
Parking
- Total Spaces: 4
- Parking Features: Off-Street, Parking Lot, Yes
Location
- Area: Joliet
- County: Will
- Township: Troy
- Driving Directions: From I-55 Exit 259 (IL-53/Chicago St): Turn south on Chicago St for ~1.8 miles. Turn right (west) onto West Jefferson St and continue ~1.3 miles. Turn left (south) onto Kungs Way. Property will be on the right at 509 Kungs Way.
School Information
- School District: 86
- Elem School District: 86
- Midd School District: 86
- High School District: 204
Heating & Cooling
- Heating Type: Natural Gas, Baseboard
Utilities
- Sewer: Public Sewer
- Water: Public
- Trash: 1080
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement: Yes
- Basement Desc.: Other, Partial
- Year Built: 1964
- Built Before 1978: Yes
Unit Information
- Units in Building: 4
Lot Features
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 9443
Financial Considerations
- Insurance Fee: $2,000
- Assessment Year: 1964
- Tax Amount: $11,260
- Tax Year: 2024
- Pays Electric: 1572
- Pays Trash: 1080
- Pays Sewer: Public Sewer
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: List Broker Must Accompany
- Property ID: 506122140120000
Listed by Listing Leaders Northwest, Inc
We Value Your Privacy
We Value Your Privacy
We Value Your Privacy
Listing agents
— 509 Kungs Way —
Listing Leaders Northwest, Inc
Listing Leaders Northwest, Inc
NMLS#: 1598647
Get Pre-Approved Today
Get a Great Insurance Rate
Schools
Schools serving 509 Kungs Way
School Districts:Joliet Public School District 86, Joliet Township High School District 204
| Name | Grades | Distance |
|---|---|---|
Thomas Jefferson Elementary School, Joliet, IL 2651 Glenwood Avenue, Joliet, IL 60435 | PK-5 | 0.3 mi |
Hufford Junior High School 1125 North Larkin Avenue, Joliet, IL 60435 | 6-8 | 1.1 mi |
Joliet West High School 401 North Larkin Avenue, Joliet, IL 60435 | 9-12 | 0.8 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 509 Kungs Way
Tax History
Tax History for 509 Kungs Way
Year
Property Taxes
Change
Tax Assessment
Change
2024
$11,260
5%
$136,231
11%
2023
$10,761
27%
$122,400
31%
2022
$8,494
-2%
$93,334
—
2020
$8,633
-2%
$93,334
—
2019
$8,831
12%
$93,334
16%
2018
$7,879
-3%
$80,640
—
2017
$8,164
-4%
$80,640
—
2016
$8,487
-13%
$80,640
-10%
2015
$9,777
-10%
$90,000
-10%
2014
$10,905
7%
$100,251
—
2013
$10,234
10%
$100,251
—
2012
$9,310
—
$100,251
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 509 Kungs Way
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
- Single Family
- Active
- Updated 1 day ago
- 4Beds
- 2Total Baths
- 1,600Sq. Ft.
- Single Family
- Active
- Updated 4 days ago
- 3Beds
- 2Total Baths
- 2,147Sq. Ft.
- Single Family
- Active
- Updated 3 days ago
- 3Beds
- 3Total Baths
- 2,547Sq. Ft.
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
- Townhouse
- Active
- Updated 1 day ago
- 3Beds
- 3Total Baths
- 1,992Sq. Ft.
- Condo
- Active
- Updated 13 hours ago
- 2Beds
- 1Total Bath
- 876Sq. Ft.
- Single Family
- Active
- Updated 4 days ago
- 4Beds
- 4Total Baths
- 2,290Sq. Ft.
- Single Family
- Active
- Updated 1 day ago
- 3Beds
- 2Total Baths
- 1,440Sq. Ft.
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
509 Kungs Way, Joliet, IL 60435 (MLS# 12509532) is a Multi-Family property with 4 units containing 7 bedrooms and 0 full bathrooms. 509 Kungs Way is currently listed for $615,000 and was received on November 03, 2025. Want to learn more about 509 Kungs Way? Do you have questions about finding other Multi-Family real estate for sale in Joliet? You can browse all Joliet real estate or contact a Coldwell Banker agent to request more information.