1016 S State St Lockport, IL 60441
Estimated payment $11,905/month
Highlights
- Central Air
- Heating System Uses Gas
- 3-minute walk to Lincoln Landing Park
- Milne Grove Elementary School Rated A-
About This Home
Huge Price Drop - Don't Miss This Deal Exceptional Investment Opportunity Prime Downtown Lockport Property Seize a rare chance to own a remarkable asset in the heart of Downtown Lockport. This impressive three-story brick building, located at 1016 State St., was constructed in 2023 and offers a unique blend of luxury and versatility in an unbeatable location. The property features four modern, high-end residential rentals alongside a flexible storefront/office space, making it an ideal investment opportunity. Fully leased, the building ensures immediate returns and is perfect for investors seeking a turnkey solution with a strong tenant base in both the residential and commercial sectors. Key Features: Four Sophisticated units: Thoughtfully designed with contemporary finishes, offering residents a luxurious living experience. Storefront/Office Space: An obvious commercial space that provides excellent exposure, perfect for retail or office use. Just steps away from the train station and close to major highways and Lewis University, ensuring easy accessibility for tenants and clients. This is your opportunity to invest in a high-yield, prime-location property that promises immediate cash flow and long-term value. Don't let this opportunity slip away-secure a top-tier asset in one of Lockport's most vibrant areas.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $32,349
Year Built
- Built in 2023
Lot Details
- 3,300 Sq Ft Lot
- Lot Dimensions are 55x95
Home Design
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
- Fire and Smoke Detector
Utilities
- Central Air
- Cooling System Mounted In Outer Wall Opening
- Heating System Uses Gas
Community Details
Overview
- 5 Units
Building Details
- Insurance Expense $3,500
- Other Expense $600
- Trash Expense $780
- Water Sewer Expense $3,600
- Operating Expense $44,380
- Gross Income $146,904
- Net Operating Income $100,092
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/23/2025 09/23/25 | For Sale | $1,749,000 | -0.1% | -- | |
| 07/21/2025 07/21/25 | Price Changed | $1,749,900 | -2.5% | -- | |
| 06/10/2025 06/10/25 | For Sale | $1,795,000 | +2011.8% | -- | |
| 10/19/2018 10/19/18 | Sold | $85,000 | -14.9% | -- | View Prior Sale |
| 08/13/2018 08/13/18 | Pending | -- | -- | -- | |
| 06/28/2018 06/28/18 | For Sale | $99,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12478443
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