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$1,325,000
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Property Description
This 8,100 SF office building in Lockport offers an exceptional investment opportunity with excellent visibility and easy access to I-355. Located in a well-maintained 7-building association, the property features 12 offices, a breakroom, a vestibule, 8 restrooms, and 8,100 SF of usable space on the main level, plus an additional 4,050 SF of usable space on the lower level and 4,050 SF of storage. The roof and HVAC systems are well-maintained, and the recently seal-coated parking lot enhances both value and curb appeal. Currently leased to a long-term tenant for several more years, the property provides a stable income stream. With low Will County taxes, a prime location near new developments along 159th Street, and a strong tenant in place, this is an ideal opportunity for investors seeking a solid, income-producing asset with long-term potential. Don't miss the chance to secure this well-located office building in a rapidly growing area.
Full Property Details
Full Property Details for 16624 W 159th St
General
- Sold For: $1,325,000
- Taxes: $21,932 (2023)
- Status: Closed
- Type: Commercial Residential Facility
- Source: MRED
- MLS ID: 12205169
- Added to Site: 430 day(s) ago
Additional Information
- Security/Safety: Alarm Monitored, Alarm on Site
Location
- Area: Homer / Lockport
- County: Will
- Driving Directions: I-355 to 159th Street exit ~ West to Adelmann ~ North to building
- Location Details: South Suburban
Heating & Cooling
- Cooling Type: Central Air Conditioning, Central Individual
- Heating Type: Central Heat/Individual Controls, Forced Air
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Composition
- Stories/Levels: 1
- Square Feet: 8,100
- Year Built: 2005
Unit Information
- # Tenants: 1
- Extra Storage Avail: Yes
Lot Features
- Lot Size (Sq. Ft.): 13,844
- Lot Dimensions: 115 x 120
- Potential Use: Commercial
- Zoning: OFFIC
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Security Deposit: Alarm Monitored, Alarm On Site
- Assessment Year: 2005
- Tax Amount: $21,932.88
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Electricity, Heat
Disclosures and Reports
- Property ID: 1605183050480000
Listed by Olivieri Real Estate LLC
Sold by Keller Williams Preferred Rlty
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Schools
Schools serving 16624 W 159th St
School Districts:Lockport Township High School District 205, Will County School District 92
| Name | Grades | Distance |
|---|---|---|
Walsh Elementary School, Lockport, IL 514 MacGregor Road, Lockport, IL 60441 | PK-1 | 0.7 mi |
Ludwig Elementary School 710 North State Street, Lockport, IL 60441 | 4-5 | 1.3 mi |
Reed Elementary School 14939 W 143rd St, Homer Glen, IL 60491 | 2-3 | 2.8 mi |
Oak Prairie Jr High School 15161 S Gougar Rd, Homer Glen, IL 60491 | 6-8 | 1.2 mi |
Lockport Township High School East 1333 East 7th Street, Lockport, IL 60441 | 9-12 | 0.8 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 16624 W 159th St
Date
Details
Price
Change
Source
8/28/2025
Sold
$1,325,000
-11.58%
MLS
11/11/2024
Listed
$1,498,500
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
16624 W 159th Street, Lockport, IL 60441 (MLS# 12205169) is a Commercial Residential Facility property that was sold at $1,325,000 on August 28, 2025. Want to learn more about 16624 W 159th Street? Do you have questions about finding other Commercial Residential Facility real estate for sale in Lockport? You can browse all Lockport real estate or contact a Coldwell Banker agent to request more information.

