256 Nicholson Street

Solid 3-unit investment opportunity in Joliet offering strong upside and flexibility for the next owner. The property consists of two front units and a rear apartment. Each of the main units features 2 bedrooms, 1 bathroom, and a functional layout with separate living room, dining room, and kitchen spaces. The rear unit is a 1-bedroom studio-style apartment, providing an additional income stream. The property includes a full basement with storage and shared laundry (washer and dryer), along with 3 separate meters. Additional improvements include a rubberized roof replaced approximately 9 years ago, a new side door, and two new side windows. There is also 1 exterior parking space where a garage previously stood. Mechanicals include hot water tanks from 2021 and 2011, with two units sharing one system and the rear unit on the other. The furnace age is unknown but was recently serviced on 3/23/26. Window A/C units are installed throughout. Some updates can be made over time, making this a great value-add opportunity for investors looking for long-term hold potential with the ability to increase rents and build equity. Property will be delivered fully vacant at closing, allowing the next owner to immediately implement their strategy and maximize returns.