NOT LISTED FOR SALE

557 E Division St Lockport, IL 60441

South Lockport Neighborhood

Estimated Value: $352,000 - $604,000

8 Beds
4 Baths
-- Sq Ft
0.32 Acres Lot

Sale Details

Date Sold: March 3, 2022

Last sale price $475,000

Est. 2% increase in value since last sale

Current estimated payment $3,414 / mo

1 Day on Market

Highlights

  • Ranch Style House
  • Forced Air Heating System
  • 4-minute walk to Rotary Park
  • Lockport Township High School East Rated A
  • Paved or Partially Paved Lot

About This Home

As of March 2022

A CASHFLOW KING! SIT BACK AND COLLECT YOUR MONTHLY RENTS WHILE YOU JUST PAY LOW TAXES ($7818) AND INSURANCE! NO COMMON AREA MAINTENANCE OR UTILITIES. ALL UNITS PAY WATER, ELECTRIC, GAS, & GARBAGE EXPENSES. 2 BUILDINGS ON 1 PIN TO MAKE UP A 4 UNIT. NEW OWNERS DID A PHENOMENAL CLEAN UP & REMODEL JOB ON THE PROPERTY TO INCREASE THE RENTS FROM $3200 TO $4950 PER MONTH AND THERE'S STILL ROOM TO GROW! PROFESSIONALLY REMODELED UNIT BRINGS IN $1400/MONTH SO THERES ROOM TO GROW ON OTHER 3 UNITS! CHECK OUT THE NEW KITCHEN LAYOUT ON THE REMODELED UNIT THAT GIVES MORE COUNTER SPACE AND ADDS A DISHWASHER! VERY SPACIOUS UNITS! CENTRAL AIR IN ALL UNITS! LAUNDRY HOOK UP & HARDWOOD FLOORS IN ALL UNITS! 2 FURNACES & C/A UNIT (2019), 1 FURNACE (2020), 2 HWH'S (2020). UPGRADED 100 AMP PANELS! BOTH ROOFS REPLACED IN 2013. WINDOWS REPLACED IN 2005. TRULY MAINTENANCE FREE EXTERIOR WITH BRICK BUILDINGS & ALUMINUM SOFFITS/FASCIA/GUTTERS! COME SEE WHAT A LANDLORD'S DREAM LOOKS LIKE! VACANT UNIT NEEDS TO BE REMODELED & WILL RENT FOR AT LEAST $1400 WHEN REMODELED. CONVENTIONAL OR CASH BUYERS ONLY, THANK YOU!

Last Agent to Sell the Property

Reid Specht

Hoff, Realtors Listed on: 01/24/2022

Last Buyer's Agent

Michael Scanlon

eXp Realty License #475188240

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,819

Year Renovated

  • 2019

Lot Details

  • 13,939 Sq Ft Lot
  • Lot Dimensions are 66 x 152 x 132 x 50 x 66 x 101
  • Paved or Partially Paved Lot
  • Irregular Lot

Home Design

  • Ranch Style House
  • Brick Exterior Construction
  • Block Foundation
  • Asphalt Roof

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 4 Bathrooms

Basement

  • Crawl Space

Parking

  • 10 Parking Spaces
  • Uncovered Parking
  • Parking Included in Price
  • Unassigned Parking

Schools

  • Taft Grade Elementary And Middle School
  • Lockport Township High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $1,916
  • Gross Income $59,400
  • Net Operating Income $49,968

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,819

Year Renovated

2019

Lot Details

0.32 Acres

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Ranch
  • New Construction: No
  • Age: 41-50 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2019
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • MRD_AP1: Central Air Conditioner,Laundry Hook-Up,Hardwood Floors
  • MRD_AP2: Stove,Refrigerator,Washer,Dryer,Central Air Conditioner,Laundry Hook-Up,Hardwood Floors
  • MRD_AP3: Stove,Refrigerator,Central Air Conditioner,Laundry Hook-Up,Hardwood Floors
  • MRD_AP4: Stove,Refrigerator,Washer,Dryer,Dishwasher,Central Air Conditioner,Laundry Hook-Up,Hardwood Floors
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2019

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 8
  • Basement Description: Crawl
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0

Exterior Features

  • Foundation Details: Block
  • Lot Features: Irregular Lot
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking Features: Unassigned
  • ParkingTotal: 10
  • Number of Cars: 10
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights, Street Paved

Fee Information

  • Other Expenses $: 0

Schools

  • Elementary School: Taft Grade School
  • High School: Lockport Township High School
  • Middle/Junior School: Taft Grade School

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.32
  • Lot Dimensions: 66 X 152 X 132 X 50 X 66 X 101
  • Zoning: MULTI
  • Lot Size: .25-.49 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: Yes

Multi Family

  • Net Operating Income: 49968
  • Insurance Expense: 1916
  • GrossIncome: 59400
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 7818.76
  • Tax Year: 2020
  • Tax Exemptions: None

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 4, 2025
Sold by
Bought by
Current Estimated Value
$485,226

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$453,750
Outstanding Balance
$452,948
Interest Rate
6.63%
Mortgage Type
New Conventional
Estimated Equity
$32,278

Purchase Details

Listed on
Jan 24, 2022
Closed on
Feb 22, 2022
Sold by
Bought by
Seller's Agent
Reid Specht
Hoff, Realtors
Buyer's Agent
Michael Scanlon
eXp Realty
List Price
$475,000
Sold Price
$475,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.50%
Original Mortgage
$403,750
Interest Rate
4.25%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 13, 2018
Closed on
Jan 3, 2019
Sold by
Bought by
Seller's Agent
Keith Wagner
RE/MAX of Naperville
Buyer's Agent
Reid Specht
Hoff, Realtors
List Price
$324,900
Sold Price
$305,000
Premium/Discount to List
-$19,900
-6.12%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.80%
Original Mortgage
$228,750
Interest Rate
6%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 13, 2018
Closed on
Dec 14, 2018
Sold by
Bought by
Seller's Agent
Keith Wagner
RE/MAX of Naperville
Buyer's Agent
Reid Specht
Hoff, Realtors
List Price
$324,900
Sold Price
$305,000
Premium/Discount to List
-$19,900
-6.12%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,750
Interest Rate
6%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 13, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$210,000
Interest Rate
4.75%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 15, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
5.68%
Mortgage Type
Fannie Mae Freddie Mac
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$605,000 Wheatland Title
$475,000 Chicago Title
-- Attorney
$305,000 Attorney
-- Old Republic Title
$420,000 Multiple
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $453,750
Previous Owner $403,750
Previous Owner $228,750
Previous Owner $210,000
Previous Owner $300,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/03/2022 03/03/22 Sold $475,000 0.0% --
01/26/2022 01/26/22 Pending -- -- --
01/24/2022 01/24/22 For Sale $475,000 +55.7% --
12/18/2018 12/18/18 Sold $305,000 -6.1% -- View Prior Sale
08/19/2018 08/19/18 Pending -- -- --
07/13/2018 07/13/18 For Sale $324,900 -- --
Source: Midwest Real Estate Data (MRED)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $10,068 $120,631 $33,593 $87,038
2023 $9,692 $108,296 $30,158 $78,138
2022 $8,371 $96,135 $26,771 $69,364
2021 $7,989 $90,344 $25,158 $65,186
2020 $7,819 $87,374 $24,331 $63,043
2019 $7,506 $82,819 $23,063 $59,756
2018 $9,965 $107,488 $21,748 $85,740
2017 $9,428 $98,516 $19,933 $78,583
2016 $8,576 $87,435 $17,691 $69,744
2015 $8,341 $80,770 $16,343 $64,427
2014 $8,341 $79,187 $16,023 $63,164
2013 $8,341 $93,160 $18,850 $74,310
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2022

    Reid Specht

    Hoff, Realtors

    (708) 403-4444

    2 in this area

    5 Total Sales

    Reid Specht
    Section Image
  • Michael Scanlon

    Buyer's Agent in 2022

    Michael Scanlon

    eXp Realty

    (773) 630-9205

    4 in this area

    972 Total Sales

    Michael Scanlon
    Section Image

  • K

    Seller's Agent in 2018

    Keith Wagner

    RE/MAX

    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11310326

Midwest Real Estate Data (MRED)

APN: 11-04-26-202-016

Illinois Will County Lockport 60441 South Lockport

557 E Division St, Lockport, IL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID

Nearby Homes
Your Personal Tour Guide

Ask me questions while you tour the home.