1236 S Washington Street Lockport, IL 60441
MULTI_FAMILY - Lockport, IL
- Added:
- Apr 23, 2026
- Days on Market:
- 81
- Last Refresh:
- Jul 12 at 6:06 am
Property Features for 1236 S Washington Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 2, Basement, Bedroom 4, Bedroom 1, Bedroom 3
- Parking
- 6
- Parking features
- Garage, Off Street
- Basement
- Partial
- Standard status
- Active
- APN
- 1104233410050000
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 9444
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1882
- Building materials
- Vinyl Siding
Listing agent Susan Dufault License #475122166 (815) 553-2411
Listing office Coldwell Banker Real Estate Group 1165 E Ninth St, Joliet, IL (815) 838-7030
Listing date Apr 23, 2026
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The units are separately metered, and the owner pays only taxes and insurance. The upstairs unit is approximately 1,232 square feet and includes tall and some vaulted ceilings, plus use of the garage. The downstairs unit is approximately 1,540 square feet and includes an extra room that could be used as a third bedroom, den, office, or additional storage, with use of the basement by the tenant. The property is described as close to downtown Lockport.
The layout supports separate tenant living arrangements while maintaining common building consistency, with both units offering comparable bedroom and bath counts and similar appliance packages. Current rents are described as low due to lengthy tenants, providing an operating history already in place for an owner seeking occupied units.
Key Highlights
- 2‑unit property in Lockport built in 1882 with vinyl siding and forced‑air natural gas heating
- Major rebuild after a 2012 fire: rebuilt from the studs out in 2014 with new drywall, electric, plumbing, roof, windows, doors, and bathrooms/kitchens
- Two separate power vent water heaters replaced about 2 years ago
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.6k | $20.04 |
| − Vacancy | −$4.2k | −$1.50 |
| EGI | $51.4k | $18.54 |
| − OpEx | −$15.4k | −$5.56 |
| NOI | $36.0k | $12.98 |
