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$615,000

  • Sold
  • Closed
  • Multi-Family
  • 7 Total Beds
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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 responsible for gas and water; tenants responsible for 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 for 509 Kungs Way

General

  • Sold For: $615,000
  • Taxes: $11,260 (2024)
  • Status: Closed
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12562184
  • Added to Site: 60 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 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
  • 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
  • Midd School District: 86

Heating & Cooling

  • Heating Type: Natural Gas, Baseboard

Utilities

  • Water: Public

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • 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

  • Assessment Year: 1964
  • Tax Amount: $11,260
  • Tax Year: 2024

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 506122140120000

Listed by Listing Leaders Northwest, Inc
Sold by City Pro Realty

Listing agents

— 509 Kungs Way —

  • Listing Leaders Northwest, Inc

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 509 Kungs Way

School Districts:Joliet Public School District 86, Joliet Township High School District 204
NameGradesDistance
Thomas Jefferson Elementary School, Joliet, IL
2651 Glenwood Avenue, Joliet, IL 60435
PK-50.3 mi
Hufford Junior High School
1125 North Larkin Avenue, Joliet, IL 60435
6-81.1 mi
Joliet West High School
401 North Larkin Avenue, Joliet, IL 60435
9-120.8 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 509 Kungs Way

Date
Details
Price
Change
Source
2/06/2026
Sold
$615,000
—
MLS
2/05/2026
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.

Listed by Listing Leaders Northwest, Inc
Sold by City Pro Realty

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509 Kungs Way, Joliet, IL 60435 (MLS# 12562184) is a Multi-Family property that was sold at $615,000 on February 06, 2026. 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.