1016 State StLockport, IL 60441
- Apartment buildings
Property Details for 1016 State St
- Property type
- Apartment buildings
Description
This exceptional Class A, five-unit apartment building in downtown Lockport, IL, presents a compelling investment opportunity. Built in 2023, the three-story brick structure boasts four high-end residential units meticulously designed with contemporary finishes, offering a luxurious living experience for tenants. A versatile storefront/office space provides additional income potential, ideal for retail or office use and benefiting from high visibility. The property is fully leased, ensuring immediate cash flow and a strong return on investment. Its prime location at 1016 S State St, 60441, offers unparalleled convenience, situated steps from the train station, near major highways, and close to Lewis University. This turnkey asset provides immediate cash flow, a prime location in a vibrant area, and strong potential for long-term value and growth. The asking price is $2,000,000, with a 6.00% cap rate and a price per unit of $400,000. This is a rare chance to acquire a premium property in a thriving downtown district.
Location Insight
- City
- Lockport
- County
- Will
- State
- Illinois
- Latitude
- 41.5881
- Longitude
- -88.0579
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].