Joliet's Building Purchase Will Save You Lots Of Money: City

JOLIET — Joliet's new permanent media relations director Rosemaria DiBenedetto issued a press release on Wednesday revealing that the Joliet City Council's Tuesday night vote to purchase the building across the street from the Will County Courthouse will save the taxpayers thousands of dollars in the long term.

The two-story office building at 63 W. Jefferson Street has 7,100 square footage of space and is between Joliet and Ottawa Streets.

According to DiBenedetto, Joliet's finance Director Kevin Sing estimates 40 to 50 city employees will work inside the building between the two floors.

“We need additional space for our employees and this purchase will allow us to move employees from the Rialto Building into this space a short walk from City Hall,” Sing remarked in Wednesday's press release.

“The savings from the rent at the Rialto location, which is $60,000 a year to the 63 W. Jefferson location, nets a cost savings of $30,000 annually for the city,” Sing continued.

Sing also acknowledged the rent from current tenants at 63 Jefferson Street location would cover the cost of purchase and ownership of the building.

The property is approximately 100 years old and was extensively renovated in 1992, according to an appraisal of the building. Updates and maintenance of the building has been ongoing with most recent work done in 2022.

Joliet's purchase price of $820,000 is “a midway point between two appraisals of the property,” explained Interim Corporation Counsel Chris Regis.

Regis estimates the property will close in 60 to 90 days, with occupancy by city staff this fall.

The City of Joliet has 920 employees, up from 835 back in 2015. City Hall does not have room for expansion and is land locked by neighboring streets, DiBenedetto's press release explained.

“Until we can adequately plan for our long-term placement of current and future employees, this is a good option for us to house staff,” Sing pointed out. “This also allows the city to play a key role in controlling property on a main thoroughfare and help shape our downtown redevelopment.”