16624 159Th St Lockport, IL 60441
- Commercial real estate
- 8,137 SF
- 0.32 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 16624 159Th St
- Lot size
- 0.32 lot acres
- Property size
- 8,137 SF
- Property type
- Commercial real estate
- APN
- 16-05-18-305-048
- APU
- 160518305048
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lockport
- County
- Will
- State
- Illinois
- Longitude
- -88.0228
- Latitude
- 41.5993
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
