1016 South State Street

Lockport, IL 60441

$2,000,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

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...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.
  1. Listed by Robert Miller • Vylla Home

Property Details for 1016 South State Street

Area
Homer / Lockport
Township
Lockport
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 09/22/2024 12:07 AM

Property Details for 1016 South State Street

StatusActive
MLS #12165319
Days on Market163
Taxes$27,209 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built2023
Lot Size0.08 AC / 3,300 SF
CountyWill County

Virtual Tour

Building Information for 1016 South State Street

Stories3Residences5Year Built2023Lot Size0.08 AC / 3,300 SF

Property Information for 1016 South State Street

General Information
Location and General Information
  • Geographic Locale: South Suburban
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air, Wall Sleeve
  • Electric: Circuit Breakers
  • # Of Washers: 4
  • Heat/Ventilation: Electric,Gas
  • # Of Refrigerators: 4
  • # Of Dryers: 4
  • # Of Disposals: 4
  • # Of Dishwashers: 4
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 4
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: No
  • Approximate Age: 1-6 Years
  • Lot Dimensions: 55X95
  • Lot Size Square Feet: 3300.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Alarm On Site
  • # Of Offices: 1
  • # Of Ranges: 4
  • # Of Stores: 3
  • Property Sub Type: Mixed Use
Property and Assessments
  • Possible Use: Commercial, Condominium
  • Buyer Financing: Conventional
  • Public Document Count: 0
  • Photos Count: 34
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $146,904.00
  • Gross Scheduled Income: $146,904.00
  • Insurance Expense: $3,509.00
  • Total Monthly Income: 12242
  • Net Operating Income: $102,523.00
  • Operating Expense: $44,380.00
  • Other Expense: $600.00
  • Trash Expense: $780.00
  • Water Sewer Expense: $2,400.00

Property History for 1016 South State Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1016 South State Street

Taxable ValueLand$16,313Additions-Total$16,313
Tax Record2023$27,209 ($2,267 / month)
Home Facts
StyleCommercialCountyWILLAPN11-04-23-326-022

Schools near 1016 South State Street

This home is within Lockport School District 91.
Rating
School
Type
Grades
Distance
Public - PK to 3
Public - 4 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
Milne Grove Elementary School
PublicPK to 3

Kelvin Grove Jr High School
Public4 to 8

Lockport Township High School East
Public9 to 12

St Dennis School
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1016 South State Street is a mixed use property for sale in Lockport, IL 60441. This property was listed for sale on September 16, 2024 by Vylla Home, it's currently listed at $2,000,000. It has been on the market for a total of 163 days and was last sold on August 29, 2023. This listing's school districts are Lockport School District 91, Lockport Twp Hsd 205 School District. Nearby schools include Milne Grove Elementary School, Kelvin Grove Jr High School and Lockport Township High School East. 1016 South State Street is a 0-bed, 0-bath, mixed use property built in 2023.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Vylla Home

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 09/22/2024 12:07 AM. 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.