1016 S State St

Lockport, IL 60441

$1,749,000
Price
8
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Virtual Tour
Virtual Tour
front view of a building
a living room with couch a large window
a living room with furniture and a table
a living room with furniture a dining table and a fireplace
a living room with furniture a view of the kitchen
a living room with furniture and a floor to ceiling window
a workspace with furniture and window
a room with furniture a large window and wooden floors
a living room with furniture and a potted plant
a dining room with furniture and a flat screen tv
a view of a workspace with furniture and a potted plant
a view of a dining room with furniture
a bathroom with a glass shower door and a glass door
a view of a dining room with furniture window and wooden floor
a bathroom with a sink and a mirror
a view of a dining room with furniture
a bathroom with a sink and a toilet
a work place with a large window and wooden floor
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a living room with furniture city view and large windows
a room with table chairs and wooden floor
a room with furniture a flat screen tv and view
a utility room with dryer and washer
a picture of a bench in front of door
a living room with furniture and a flat screen tv
a view of an empty room with a window and wooden floor
a kitchen with granite countertop a stove sink and cabinets
a view of a refrigerator in kitchen and an empty room
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a view of an empty room with wooden floor and a window
an empty room with wooden floor and windows
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a view of walk in closet with empty racks
a bathroom with a sink a toilet a mirror and shower
a bathroom with a sink a toilet and a mirror
a utility room with dryer and washer
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a view of a kitchen with wooden floor
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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...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.

Property Details for 1016 South State Street

Area
Homer / Lockport
Township
Lockport
Air Conditioning Type
Central Air, Wall Sleeve
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 09/29/2025 12:07 AM

Property Details for 1016 South State Street

StatusActive
MLS #12478443
Days on Market81
Taxes$32,349 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Hi-Rise
Year Built2023
Lot Size0.08 AC / 3,300 SF
CountyWill County

Location

Listing Courtesy of Vylla Home
Add your commute

Virtual Tour

Building Information for 1016 South State Street

Stories3Residences5Year Built2023Building Size-Lot Size0.08 AC / 3,300 SF

Payment Calculator

$11,338 per month

30 year fixed, 6.28% Interest

Principal and Interest

$8,642

Property Taxes

$2,696

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1016 South State Street

General Information
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air, Wall Sleeve
  • Electric: Circuit Breakers
  • # Of Washers: 4
  • Heat/Ventilation: Electric,Gas
  • # Of Refrigerators: 4
  • # Of Dryers: 4
  • # Of Disposals: 4
  • # Of Dishwashers: 4
  • Num of Baths: 9.0
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: No
  • Approximate Age: 1-6 Years
  • Multi-Family Type: Hi-Rise
  • Lot Dimensions: 55X95
  • Lot Size Square Feet: 3300.0
  • Stories: 3
  • Construction: Brick
  • Fire Protection: Alarm On Site
  • # Of Ranges: 4
Property and Assessments
  • Possible Use: Commercial
  • Buyer Financing: Conventional
  • Public Document Count: 1
  • Document Date: 2025-09-23T12:35:07
  • Photos Count: 68
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $146,904.00
  • Gross Scheduled Income: $146,904.00
  • Insurance Expense: $3,500.00
  • Maintenance Expense: $.00
  • Janitor Expense: 0
  • Total Monthly Income: 12242
  • Net Operating Income: $100,092.00
  • Operating Expense: $44,380.00
  • Other Expense: $600.00
  • Trash Expense: $780.00
  • Water Sewer Expense: $3,600.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 4
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 1
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 1016 South State Street

DateEvent & SourcePriceAppreciation
Sep 23, 2025

Listed (Active)

MRED #12478443

$1,749,000—
Sep 23, 2025

Cancelled

MRED #12372505

$1,749,900—
Jul 21, 2025

Price Change

MRED #12389488

$1,749,900—
Jun 10, 2025

Price Change

MRED #12372505

$1,795,000—
Jun 10, 2025

Listed (Active)

MRED #12389488

$1,795,000—
Jun 10, 2025

Cancelled

MRED #12372607

$1,850,000—
May 22, 2025

Cancelled

MRED #12155199

$1,850,000—
May 22, 2025

Listed (Active)

MRED #12372607

$1,850,000—
May 22, 2025

Cancelled

MRED #12165319

$1,850,000—
May 22, 2025

Listed (Active)

MRED #12372505

$1,850,000—
Mar 22, 2025

Price Change

MRED #12165319

$1,900,000—
Mar 22, 2025

Price Change

MRED #12155199

$1,900,000—
Sep 16, 2024

Listed (Active)

MRED #12165319

$2,000,000—
Sep 9, 2024

Listed (Active)

MRED #12155199

$2,000,000—
Aug 29, 2023

Sold (Public Record)

Public Record #1518395578

$1,650,000

+7695.6% / yr

Oct 31, 2022

Sold (Public Record)

Public Record #1501222607

$45,000

-26.9% / yr

Jun 11, 2020

Sold (Public Record)

Public Record #682921034

$95,000—
Oct 19, 2018

Sold

MRED #10000955

$85,000—
Aug 13, 2018

Pending

MRED #10000955

—
Jun 28, 2018

Listed (Active)

MRED #10000955

$99,900—
DateEvent & SourcePrice
09/23/2025

Listed (Active)

MRED #12478443

$1,749,000
09/23/2025

Cancelled

MRED #12372505

$1,749,900
07/21/2025

Price Change

MRED #12389488

$1,749,900
06/10/2025

Price Change

MRED #12372505

$1,795,000
06/10/2025

Listed (Active)

MRED #12389488

$1,795,000
06/10/2025

Cancelled

MRED #12372607

$1,850,000
05/22/2025

Cancelled

MRED #12155199

$1,850,000
05/22/2025

Listed (Active)

MRED #12372607

$1,850,000
05/22/2025

Cancelled

MRED #12165319

$1,850,000
05/22/2025

Listed (Active)

MRED #12372505

$1,850,000
03/22/2025

Price Change

MRED #12165319

$1,900,000
03/22/2025

Price Change

MRED #12155199

$1,900,000
09/16/2024

Listed (Active)

MRED #12165319

$2,000,000
09/09/2024

Listed (Active)

MRED #12155199

$2,000,000
08/29/2023

Sold (Public Record)

Public Record #1518395578

$1,650,000

+7695.6% / yr

10/31/2022

Sold (Public Record)

Public Record #1501222607

$45,000

-26.9% / yr

06/11/2020

Sold (Public Record)

Public Record #682921034

$95,000
10/19/2018

Sold

MRED #10000955

$85,000
08/13/2018

Pending

MRED #10000955

—
06/28/2018

Listed (Active)

MRED #10000955

$99,900

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1016 South State Street

Taxable ValueLand$19,379Additions$357,418Total$376,797
Tax Record2024$32,350 ($2,696 / month)
Home Facts
StyleMiscellaneous CommercialCountyWILLAPN11-04-23-326-022

Schools near 1016 South State Street

This home is within Lockport School District 91.
Rating
School
Type
Grades
Distance
Milne Grove Elementary School
Public - PK to 3
Kelvin Grove Jr High School
Public - 4 to 8
Lockport Township High School East
Public - 9 to 12
St Dennis School
Private - PK to 8
Rating
School
Distance
Milne Grove Elementary School
PublicPK to 3

Kelvin Grove Jr High School
Public4 to 8

Lockport Township High School East
Public9 to 12

St Dennis School
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1016 South State Street, Lockport, IL 60441

1016 South State Street is a multi-family home for sale in Lockport, IL 60441. This property was listed for sale on September 23, 2025 by Vylla Home, it's currently listed at $1,749,000. It has been on the market for a total of 81 days and was last sold on August 29, 2023. This listing's school districts are Lockport School District 91, Lockport Twp Hsd 205 School District. Nearby schools include Milne Grove Elementary School, Kelvin Grove Jr High School and Lockport Township High School East. 1016 South State Street is a 8-bed, 9-bath, multi-family home built in 2023.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Vylla Home

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 09/29/2025 12:07 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.