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Listing provided courtesy of Vylla HomeMREDas Distributed by MLSGrid- MLS# 12624825MLS Provider

1016 State StreetLockport, IL 60441

Commercial
$1,599,999 Active

1016 State Street Overview

Time on Site:
69 days
Visits:
0

**New Price ** - Don't Miss This Deal Exceptional Investment Opportunity Prime Downtown Lockport Property Seize a rare chance to own a remarkable asset in the heart of Downtown Lockport. This impressive three-story brick building, located at 1016 State St., was constructed in 2023 and offers a unique blend of luxury and versatility in an unbeatable location. The property features four modern, high-end residential rentals alongside a flexible storefront/office space, making it an ideal investment opportunity. Fully leased, the building ensures immediate returns and is perfect for investors seeking a turnkey solution with a strong tenant base in both the residential and commercial sectors. Key Features: Four Sophisticated units: Thoughtfully designed with contemporary finishes, offering residents a luxurious living experience. Storefront/Office Space: An obvious commercial space that provides excellent exposure, perfect for retail or office use. Just steps away from the train station and close to major highways and Lewis University, ensuring easy accessibility for tenants and clients. This is your opportunity to invest in a high-yield, prime-location property that promises immediate cash flow and long-term value. Don't let this opportunity slip away-secure a top-tier asset in one of Lockport's most vibrant areas.

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1016 State Street Facts & Features

  • Type Commercial

Details

General

Income/Expenses

  • Other Expense: 600
  • Electric Expense: 0
  • Fuel Expense: 0
  • Gross Income: 146904
  • Gross Scheduled Income: 146904
  • Insurance Expense: 3500
  • Net Operating Income: 100092
  • Operating Expense: 44380
  • Trash Expense: 780
  • Water Sewer Expense: 3600

Building Information

  • Year Built: 2023

Location/Region

  • County Or Parish: Will
  • MLS Area Major: Homer / Lockport
  • Township: Lockport

Rent/Lease Information

  • Tenant Pays: Electricity

Tax Information

  • Tax Annual Amount: $32,349.00
  • Tax Year: 2024

General Information

  • Parcel Number: 1104233260220000
  • Possible Use: Commercial,Condominium
  • Property Type: Commercial Sale
  • Zoning: MULTI

Interior

General Information

  • Cooling: Central Air, Wall Sleeve
  • Electric: Circuit Breakers
  • Fireplaces Total: 0
  • Stories: 3

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 55X95
  • Lot Size Square Feet: 3300

Building Exterior/Construction

  • Construction Materials: Brick

General Information

  • Number Of Units Total: 5

1016 State Street Neighborhood

Community

60441 (Lockport) Demographics

38
Median Age
1,185
Population Density (per sq. mile)
40%
College Educated
$80,022
Estimated Median Income
9,585
Estimated Total Home Owners
2,501
Estimated Total Renters
79% / 21%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1016 State Street Monthly Cost

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Jody Gerut
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1016 State Street Market Data

Based on the last 30 days in this zip code

$433,258
Average List Price
$222
Average Price per Square Foot
35
Properties Sold
54
Average Days on Market
142
Properties for Sale
Calculations provided by Reliance Network

1016 State Street History

Date Event Value Agent
6/15/2026Source: MRED Status Change
Active
6/15/2026Source: MRED Status Change
Active
6/10/2026Source: MRED Price Reduction
$1,599,999 -5.9%
6/10/2026Source: MRED Price Reduction
$1,599,999 -5.9%
6/10/2026Source: MRED Status Change
Price Change
6/10/2026Source: MRED Status Change
Price Change
5/8/2026Source: MRED Status Change
Active
5/3/2026Source: MRED Status Change
Re-activated
4/26/2026Source: MRED Status Change
Active
4/26/2026Source: MRED Status Change
Active
4/21/2026Source: MRED Added to Database
April 21, 2026
4/21/2026Source: MRED Added to Database
April 21, 2026