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Priced to sell 4 Bdrm, 2600sqft House w/3 1 bdrm Apartments

Listing ID 22615862 | Updated 13 days ago

$235,000
Willing to negotiate
For Sale, Short Sale

615 S State Street
Lockport, IL 60441

7 beds, 4.50 baths
Multi-Family

Ask the Owner

Michael
Primary

Add to Favorites About this Property

Bedrooms:7 Bathrooms:4.50 Floors:2.0 Square Footage:4200
Year Built:1862 School District:91 and 205 Garage Size:4.5 Lot Size:140x160 Ft.
0.51 Acre(s)
Amenities:Central AC, Carpeted Floors, Wood Floors, Appliances Included, Basement, Central Heating, Garage, Tile Floors

Let someone else pay your mortgage!  Or at least a large part of it.

This is a great opportunity to live in nice single family sized home and have rental income paying your mortgage.  The main unit is 4 bedrooms, 1 1/2 bath, large kitchen, dining room, large family room, rec room in basement. 2 bedrooms are on the main floor, and 2 bedroom are on the second floor.  There are three 1 bedroom apartments.  One of the units could easily be turned back into an inlaw unit by removing the wall that I put up.  Units have all been updated in the last 4 years (kitchens, baths, paint, carpet, hardwood floors, central air/heat, electrical, plumbing).  This is a low maintenance building with on demand hot water so nobody runs out. Tenants have gas and electric meters.  4 car garage with extra work area, large yard (an extra 60x140 lot next to the building). Area is zoned "mixed use" so you can pretty much do whatever you want with the lot.
Current rent for the 3 1 bedrooms is $2025/mo.  Common expenses around $500/mo including insurance, garbage, water, common gas, and minor repairs.

Set 2 blocks from historic downtown Lockport this dwelling is walking distance to the Metra and just minutes to I355, I80, and I55.  1 block from fine dining. 1/2 block from a serene river walk and jogging/bike trail. Just blocks from elementary schools.  Walmart and other shopping is only 2 miles up the road.

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Michael
Primary

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