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$399,900 Just Listed
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Property Description
Unbelievably rare Opportunity! Double lot in an amazing DOWNTOWN Frankfort location! Nearly a Half Acre of land within walking distance to outstanding Shopping, Dining, Parks & Metra! Convenient access to Old Plank Trail, Community events, Major interstate & award winning Lincoln-Way Schools! This oversized parcel provides greater flexibility in home design, garage configuration, outdoor living space & overall footprint! Take advantage of this rare opportunity before it's gone!
Full Property Details
Full Property Details for 318 Oak St
General
- Price: $399,900
- Taxes: $4,283 (2025)
- Status: Active
- Type: Lots/Land
- Source: MRED
- MLS ID: 12754190
Interior
- Basement: None
Additional Information
- Other Features: School Bus Service, Commuter Train, Interstate Access
Location
- Area: Frankfort
- County: Will
- Township: Frankfort
- Driving Directions: Nebraska to Oak St. S to Oak to Address. Sign on property
School Information
- School District: 157C
- Elem School District: 157C
- Midd School District: 157C
- High School District: 210
- High School: Lincoln-Way East High School
- Private School: Lincoln-Way East High School
Utilities
- Onsite: Electricity Nearby, Natural Gas Nearby, Sewer Nearby, Water Nearby
Structural Information
- Basement Desc.: None
- Square Feet: 0.47
- Current Bldg. Use: Single Family
Lot Features
- Lot Size (Acres): 0.47
- Lot Size (Sq. Ft.): 20,434
- Lot Size Range: .25 to .49 Acre
- Lot Dimensions: 110 x 204.5 x 92 x 114.5 x 18 x 90
- Frontage: City Street
- Frontage Feet: 110
- Street/Road Desc.: Asphalt
- Potential Use: Residential
- Zoning: SINGL
Financial Considerations
- Tax Amount: $4,283
- Tax Year: 2025
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 1909282280150000
Listed by Morandi Properties, Inc
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Schools
Schools serving 318 Oak St
School Districts:Frankfort Community Consolidated School District 157c, Lincoln Way Community High School District 210
| Name | Grades | Distance |
|---|---|---|
Grand Prairie Elementary School, Frankfort, IL 10480 Nebraska Street, Frankfort, IL 60423 | PK-2 | 1.2 mi |
Chelsea Elementary School 22265 South 80th Avenue, Frankfort, IL 60423 | 3-5 | 2.3 mi |
Hickory Creek Middle School 22150 South Owens Road, Frankfort, IL 60423 | 6-8 | 2.6 mi |
Lincoln-Way East High School 201 Colorado Avenue, Frankfort, IL 60423 | 9-12 | 1.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Tax History
Tax History for 318 Oak St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,705
—
$22,056
7%
2025
$1,705
9%
$20,690
12%
2023
$1,561
9%
$18,478
10%
2022
$1,428
—
$16,830
7%
2022
$1,428
8%
$15,745
3%
2020
$1,320
3%
$15,301
3%
2019
$1,279
2%
$14,891
3%
2018
$1,258
—
$14,463
2%
2017
$1,259
2%
$14,125
4%
2016
$1,232
1%
$13,641
4%
2015
$1,217
1%
$13,161
1%
2014
$1,205
2%
$13,070
-1%
2013
$1,187
—
$13,239
-5%
2012
$1,184
—
$13,936
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 318 Oak St
318 Oak Street, Frankfort, IL 60423 (MLS# 12754190) is a Lots/Land property with a lot size of 0.47 acres. 318 Oak Street is currently listed for $399,900 and was received on September 09, 2026. Want to learn more about 318 Oak Street? Do you have questions about finding other Lots/Land real estate for sale in Frankfort? You can browse all Frankfort real estate or contact a Coldwell Banker agent to request more information.

