Investment Overview

Marcus & Millichap is pleased to present this 128-unit apartment property, located at 1524 Richard T. Rivera Way in Joliet, Illinois. The property is comprised of 12 studio / one-bathroom units, 96 two-bedroom / one-bathroom units, four three-bedroom / two-bathroom units, and sixteen four-bedroom / two-bathroom units. The unit sizes measure on average, approximately 495, 610, 850 and 850 square feet, respectively. Originally built in 2002, the property underwent a full renovation between 2021 and 2024. The property features a clubhouse, fitness center, community kitchen, swimming pool, sundeck, outdoor picnic area, sand volleyball court, and ample off-street parking. Each unit features a balcony or patio and in-unit laundry. The property also includes approximately five acres of additional land for potential future development. This investment offers an investor the opportunity to acquire a renovated, fully leased asset in a strong Joliet location with solid rental demand and continued upside in rents.