400 Illinois St, Unit 402 Lemont, IL 60439-3939
Property profile & analytics
400 Illinois St, Unit 402, Lemont, IL 60439-3939
- Residential income homes
- 3,636 SF
- 0.05 lot acres
Property ID
US28-5910506
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Crane Network / Construction Company / Rental Equipment Company
- Creamery / Grocery & Convenience Store / Specialty Food Shop
Property Details for 400 Illinois St
- Year built
- 1883
- Construction
- FRAME
- Lot size
- 0.05 lot acres
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 22-20-428-001
- APU
- 2220428001
Description
This exceptional Lemont, IL investment property presents a compelling opportunity for savvy investors. Located at 400 E Illinois, this completely renovated mixed-use building boasts 4,200 square feet on a sizable 2,250-acre lot (50x45 feet). The ground floor comprises two renovated storefronts: a 1,000 sq ft office and a 1,200 sq ft retail space. A lower-level basement provides ample storage. Upstairs, two fully renovated 2-bedroom apartments, each approximately 1,050 square feet, offer significant rental income potential. Currently at 100% occupancy, the property generates a strong NOI of $70,703, yielding a 7.11% cap rate. Recent upgrades include a new roof, interior finishes, and all mechanical systems. The property benefits from its prime corner location, just one block from Main Street, with easy access to public transportation and major highways (I-55, I-294, and I-355). The asking price is $995,000. The current rents are below market value, presenting a clear path to increased profitability. New sidewalks and curbs enhance the property's curb appeal. This turnkey investment is ready for immediate income generation and future appreciation in a thriving community.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Lemont
- County
- Cook
- State
- Illinois
- Longitude
- -87.998
- Latitude
- 41.6739
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$7,164
$1,237
$28,269
$29,506
-
$12,370
$282,690
$295,060
