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Downtown Lockport IL 1016 S State St

5 Unit Block of Flats £1,578,000 (£315,600/Unit) 5.25% Net Initial Yield Lockport, IL 60441

Executive Summary

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 Facts

Price £1,578,000
Price Per Unit £315,600
Sale Type Investment
Net Initial Yield 5.25%
No. Units 5
Property Type Residential
Property Subtype
Apartment
  • Office Office Residential
Building Class B
Lot Size 0.22 AC
Building Size 7,000 SF
Average Occupancy 100%
Number of Floors 3
Year Built 2023

Unit Amenities

  • Cable Ready
  • Dishwasher
  • Ceiling Fans
  • Eat-in Kitchen
  • Refrigerator
Walk Score ®
Very Walkable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
11-04-23-326-019
Land Assessment
£7,193
Improvements Assessment
£0
Total Assessment
£7,193
  • Listing ID: 33129248

  • Date on Market: 10/09/2024

  • Last Updated:

  • Address: 1016 S State St, Lockport, IL 60441

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