This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/68
$1,749,000
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/68
Property Description
Huge Price Drop - 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.
Full Property Details
Full Property Details for 1016 State St
General
- Price: $1,749,000
- Taxes: $32,349 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12478443
- Updated: 12/25/2025
- Added to Site: 168 day(s) ago
Additional Information
- Security/Safety: Alarm on Site
Location
- Area: Homer / Lockport
- County: Will
- Township: Lockport
- Driving Directions: 3 miles south of I-355 at Archer Ave.
Heating & Cooling
- Cooling Type: Central Air Conditioning, Wall Sleeve
- Heating Type: Electric, Gas
Utilities
- Trash: 780
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 3
- Year Built: 2023
Unit Information
- Units w/Refrigerators: 4
- Units w/Range/Oven: 4
- # Dryers: 4
Lot Features
- Lot Size (Sq. Ft.): 3,300
- Lot Dimensions: 55 x 95
- Potential Use: Commercial, Condominium
- Zoning: MULTI
Financial Considerations
- Insurance Fee: $3,500
- Operating Expenses: $44,380
- Other Fee: $600
- Security Deposit: Alarm On Site
- Assessment Year: 2023
- Tax Amount: $32,349
- Tax Year: 2024
- Tenant Pays: Electricity
- Pays Trash: 780
Disclosures and Reports
- Property ID: 1104233260220000
Listed by Vylla Home
Get Pre-Approved Today
Get a Great Insurance Rate
Schools
Schools serving 1016 State St
School Districts:Lockport School District 91, Lockport Township High School District 205
| Name | Grades | Distance |
|---|---|---|
Milne Grove Elementary School 565 East 7th Street, Lockport, IL 60441 | PK-3 | 0.5 mi |
Kelvin Grove Jr High School 808 Adams Street, Lockport, IL 60441 | 4-8 | 0.9 mi |
Lockport Township High School East 1333 East 7th Street, Lockport, IL 60441 | 9-12 | 1.4 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1016 State St
Date
Details
Price
Change
Source
9/23/2025
Listed
$1,749,000
6%
MLS
8/29/2023
Sold
$1,650,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1016 State St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$32,350
19%
$376,797
2210%
2023
$27,209
—
$16,313
—
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 1016 State St
1016 State Street, Lockport, IL 60441 (MLS# 12478443) is a Commercial property. 1016 State Street is currently listed for $1,749,000 and was received on September 23, 2025. Want to learn more about 1016 State Street? Do you have questions about finding other Commercial real estate for sale in Lockport? You can browse all Lockport real estate or contact a Coldwell Banker agent to request more information.

