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1016 State St Lockport, IL 60441

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For Sale
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Luxury Apartments, Prime Location, High Yield

Property Features for 1016 State St

General Information

Property type
Multifamily properties
Class
A

Building Details

Units
5

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Listing Contact
Robert Miller
Robert Miller

Listing Agent: Robert Miller

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional Class A, five-unit apartment building in downtown Lockport, IL, presents a compelling investment opportunity. Built in 2023, the three-story brick structure boasts four high-end residential units meticulously designed with contemporary finishes, offering a luxurious living experience for tenants. A versatile storefront/office space provides additional income potential, ideal for retail or office use and benefiting from high visibility. The property is fully leased, ensuring immediate cash flow and a strong return on investment. Its prime location at 1016 S State St, 60441, offers unparalleled convenience, situated steps from the train station, near major highways, and close to Lewis University. This turnkey asset provides immediate cash flow, a prime location in a vibrant area, and strong potential for long-term value and growth. The asking price is $2,000,000, with a 6.00% cap rate and a price per unit of $400,000. This is a rare chance to acquire a premium property in a thriving downtown district.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Lockport
County
Will
State
Illinois
Longitude
-88.0578744
Latitude
41.5881052

FAQs

What type of property is this?
Multifamily property - Luxury Apartments, Prime Location, High Yield
Where is this multifamily property located?
The property is located at 1016 State St Lockport, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Four high-end residential units with contemporary finishes.; Versatile storefront/office space with high visibility.; Fully leased, providing immediate cash flow.
(877) 330-2773 Call to check price and availability
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