515 & 517 South Street
Lockport, IL, 60441 $ 384,808
Bedrooms4 Baths2.0 Monthly Estimate*
$ 2,369
for $384,808 with 4 bedrooms and 2 full baths. This home was built in 1971 on a lot size of 0.23.
This well-maintained duplex presents an exceptional opportunity for investors, owner-occupants, or anyone seeking the perfect related living arrangement, with both units being sold together and already occupied by great longstanding tenants, providing immediate rental income and long-term value. Each spacious unit offers 2 bedrooms, 1 full bath, an attached 1-car garage, in-unit laundry, and thoughtfully designed living spaces highlighted by dramatic beamed vaulted ceilings in the living rooms and vaulted ceilings in the bedrooms, creating an open and airy feel throughout. Large family rooms feature beautiful hardwood flooring and abundant natural light, while each kitchen includes dedicated eating space and convenient patio door access to the backyard areas, offering low-maintenance outdoor living ideal for tenants or owners alike. Unit 515 has been completely renovated and showcases modern finishes throughout, including all new cabinetry, elegant quartz countertops, stylish tile backsplash, oversized white trim, updated LED lighting, and hardwood floors throughout the entire unit. The beautifully remodeled bathroom in Unit 515 features a new vanity with double sinks, updated fixtures, and a brand-new tub and shower surround, giving the space a fresh contemporary feel. Significant mechanical and exterior improvements provide peace of mind for future ownership, including a new roof installed in 2024, a new sewer line at the foundation completed in 2025, new front entry and garage service doors, a new A/C unit installed in 2025 for Unit 517, a brand-new hot water heater installed in 2026, and a new A/C unit currently being installed for Unit 515. Outdoor amenities include a fenced backyard for Unit 515, while Unit 517 offers ample space to add fencing for additional privacy or pet-friendly use. The property combines strong rental appeal with durable updates and flexible living potential, making it a rare turnkey opportunity in today's market. One tenant is currently on a month-to-month lease while the other remains under lease agreement, offering flexibility for investors or future owner-occupants seeking income potential combined with comfortable, updated living spaces.
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FeaturesGeneralSewer Public Sewer
Heating Electric Baseboard
Possession Closing
Roof Asphalt
Garage Spaces 1
Construction Materials Brick
Year Built 1971
Township Lockport
Tax Year 2024
Ownership Fee Simple
Gross Income 37200
Community Features Curbs Sidewalks Street Paved
County Will
New Construction N
Property Type Residential Income Two to Four Units
Other Structures Shed(s)
Total Rooms 10
Status New
Directions West on Division Street past the Lockport Baseball diamond head South on Sisson Street West on South. Corner unit building consisting of postal address 515 and 517 South street
High School Lockport Township High School
City Lockport
High School District 205
MLS Area Homer / Lockport
Elementary School Lockport Township High School
Tax Annual Amount 8685.56
Middle/Junior High School Lockport Township High School
Standard Status Active
Middle/Junior School District 205
Elementary School District 205
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InteriorBasement Crawl Space
Total Bedrooms 4
Total Baths 2
Bedrooms Possible 4
Full Baths Building 2
Half Baths Building 0
Total Number of Units 2
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ExteriorParking Features Garage Door Opener Yes Garage Owned Attached Garage
Water Source Public
Total Parking 1
Foundation Details Concrete Perimeter
Lot Dimensions 147 X 61
Lot Size Acres 0.23
Waterfront Y/N N
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* Excluded FeaturesList Bybobandteresa@outlook.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $2,369
- Monthly Property Taxes
- $724
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Lockport, IL
Average List Price $454,585
Percent of Sale Price 18%
About Lockport, IL 24,992 Population
50% Since 2002
$ 76,400 Median Income
38.01 Median Age
34% Households with Children
Trends Information provided by ATTOM Data Solutions.
566501 Elementary School
566501 Middle School
Lockport Township High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 5/28/2026 | $384,808 | | Listed Price |