Historic Two-Story Office and
921 S State Street Lockport, IL 60441
For Sale
$843,000
COMMERCIAL - Lockport, IL
Property Size6,264 SF
Lot Size0.19 Acres
Price / SF$134.58
Days on Market203
Property Features for 921 S State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Standard status
Active
APN
1104233170060000
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Utilities
Utilities
Water Available
Cooling system
Central Air
Building Details
Year built
1936
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Preferred Rlty
(708) 798-1111
Listed By:
Alexander Fenske · License #475128785
(708) 798-1111
Added: Jan 8
Changed: Jul 28
Last Checked: Jul 30 at 4:06AM
MLS# 12536205
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.
A historic, two-story brick property built in 1936, originally serving as the Lockport Fire Department and later used as City Hall. The building has been fully modernized with updated electrical, HVAC, fire protection, and an elevator, and it is currently used as a non-profit office and retail headquarters.
The existing layout includes a main-level vestibule; a retail store with office and storage; a conference room; a safe/vault; and restrooms. The second floor features several large offices, meeting rooms, and restrooms, while the full basement offers a large storage area, an elevator room, and a wet sprinkler system. A private parking lot in the rear provides parking for up to 10 cars.
Located in downtown Lockport’s Historic District/Municipal Core and backing to Commerce St and the canal, the property has commercial zoning noted as C4 Downtown Commercial and is listed under COMMR. It also has reported strong daily traffic exposure with AADT 11,900.
The existing layout includes a main-level vestibule; a retail store with office and storage; a conference room; a safe/vault; and restrooms. The second floor features several large offices, meeting rooms, and restrooms, while the full basement offers a large storage area, an elevator room, and a wet sprinkler system. A private parking lot in the rear provides parking for up to 10 cars.
Located in downtown Lockport’s Historic District/Municipal Core and backing to Commerce St and the canal, the property has commercial zoning noted as C4 Downtown Commercial and is listed under COMMR. It also has reported strong daily traffic exposure with AADT 11,900.
Key Highlights
- 6,264 SF brick, two‑story building on State Street in Lockport’s Historic District/Municipal Core
- Built in 1936; formerly Lockport Fire Department and later served as City Hall
- Fully modernized with updated electrical, Central Air HVAC, fire protection, and an elevator
Financial Insights For Office B
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 | $141.3k | $22.56 |
| − Vacancy | −$41.0k | −$6.54 |
| EGI | $100.3k | $16.02 |
| − OpEx | −$25.1k | −$4.00 |
| NOI | $75.3k | $12.01 |
6,264 SF · lease $22.56/SF/yr · vacancy 29.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.08M
$940.6K – $1.25M
NOI $75,251 @ 7.0% cap · market cap 8.93%
Second Best
Retail
$845.6K
$739.9K – $986.6K
NOI $59,195 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,447 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Brick building built in 1936 with updated electrical, HVAC, fire protection, and an elevator, plus office and retail areas.
Where is this office building located?
The property is located at 921 S State Street Lockport, IL.
What is the asking price?
The asking price for this property is $843,000.
What are key features of this property?
This property features: 6,264 SF brick, two‑story building on State Street in Lockport’s Historic District/Municipal Core; Built in 1936; formerly Lockport Fire Department and later served as City Hall; Fully modernized with updated electrical, Central Air HVAC, fire protection, and an elevator
