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16624 159Th St Lockport, IL 60441

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For Sale
$1,498,500

High-yield office condo with long-term tenant.

Property size:
8,100 SF

Property Features for 16624 159Th St

General Information

Property type
Residential income properties
Square Feet
8,100 SF

Building Details

Year Built
2005

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Listing Contact
Madison Watson

Listing Agency: Olivieri Real Estate LLC Listing Agent: Madison Watson

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

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Property Insight Report

Overview

This exceptional 8,100 square foot office condo in Lockport, Illinois, presents a compelling investment opportunity. Strategically located on West 159th Street with excellent visibility and convenient access to I-355, this property is part of a well-maintained seven-building association. The main level boasts 8,100 square feet of usable space, encompassing twelve offices, a breakroom, a vestibule, and eight restrooms. An additional 4,050 square feet of usable space and 4,050 square feet of storage are available on the lower level. The building benefits from a recently seal-coated parking lot, enhancing curb appeal and property value. Significant investment has been made in maintaining the roof and HVAC systems, ensuring long-term operational efficiency. Currently leased to a long-term tenant under a lease with several years remaining, this property offers a stable and predictable income stream. The property's location in Lockport, within Will County, provides the advantage of low property taxes. Furthermore, its proximity to new developments along 159th Street positions it for continued growth and appreciation. This is an ideal acquisition for investors seeking a secure, income-generating asset with substantial long-term potential in a thriving area.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Nail Salon Kitchen & Bath Showroom Food Market

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

Location Insight

  • Map
  • Local Demand
City
Lockport
County
Will
State
Illinois
Longitude
-88.02283
Latitude
41.59927

FAQs

What type of property is this?
Residential income property - High-yield office condo with long-term tenant.
Where is this residential income property located?
The property is located at 16624 159Th St Lockport, IL.
What is the asking price?
The asking price for this property is $1,498,500.
More about this property
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