JustStorage Self-Storage Opportunity – Joliet, IL
305 South Larkin Avenue, Joliet, IL 60436
This offering presents the opportunity to acquire a well‑located, institutional‑quality self‑storage asset within a growing suburban submarket of the greater Chicago MSA, supported by population growth, expanding employment drivers, and continued residential development. Converted in 2016, the property consists of approximately 103,160 rentable square feet across 1,051 units on an expansive 11.8‑acre site. The facility offers institutional‑quality features including climate‑controlled units, drive‑up access, and modern security systems with controlled gate access and video surveillance, positioning the asset to compete effectively within the local market.
The property is currently operating at approximately 82% physical occupancy with in‑place rents of $17.10, providing meaningful upside through improved occupancy and enhanced revenue management. The facility features a balanced unit mix of 871 climate‑controlled units and 180 drive‑up units, enabling it to serve a broad residential and commercial customer base.
Strategically located along South Larkin Avenue with proximity to I‑55 and I‑80, the property benefits from strong visibility and accessibility within a heavily trafficked commercial corridor. The surrounding trade area includes over 154,000 residents within a five‑mile radius and continues to experience residential and industrial growth. Joliet is emerging as a key logistics and distribution hub within the Chicago metro, supported by significant investment in industrial development, infrastructure, and job creation—reinforcing long‑term demand for self‑storage.
This offering provides investors with the opportunity to acquire a high‑quality, well‑located self‑storage asset with embedded upside through lease‑up and revenue optimization in a growth‑oriented suburban Chicago market.