Single Family: MLS #12568661 Elwood, IL ^$ 315,000

Single Family: MLS #12568661

^$ 315,000

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Single Family: MLS #12568661

Name: address
Address: IL, 60421

Elwood, IL, 60421

^$ 315,000

Bedrooms2 Baths1.0 Sq 857

Monthly Estimate*

^$ 1,940

Single Family Home for sale in Elwood, IL

for $315,000 with 2 bedrooms and 1 full bath. This 857 square foot home was built in 1950 on a lot size of 0.37.

GREAT CASH FLOW INVESTMENT OPPORTUNITY! Single-family home featuring an additional detached second residence on the same parcel. Each home offers 2 bedrooms and 1 bath with separate utilities and individual driveways. One home is currently rented at $1,600/month (month-to-month) providing immediate income, while the second unit is rent-ready and previously rented for $1,800/month. The 103' x 155' lot has already been approved for subdivision into two approximately 7,500 sq ft parcels with separate addresses in place (buyer to complete process), creating strong long-term upside potential in addition to current cash flow. Property is being sold AS-IS. Cash buyers preferred for a quick closing.

Single Family Active

Price

^$ 315,000

Bedrooms

Full Bath

Property Type

Single Family

Taxes

^$ 3,060

Style

Bungalow

Lot Size

0.37

Year Built

1950

Town/City

Elwood

County/Region

Will

MLS | Web ID

12568661

Features

General

Living Area 857

Sewer Public Sewer

Heating Natural Gas Forced Air

Cooling Central Air

Possession Closing

Association Fee Includes None

Architectural Style Bungalow

Construction Materials Aluminum Siding

Year Built 1950

Township Jackson

Tax Year 2024

Ownership Fee Simple

Community Features Curbs Sidewalks Street Paved

Assoc Fee Paid Per Not Applicable

County Will

New Construction N

Property Type Residential Detached Single

Other Structures Second Residence

Total Rooms 4

Full Baths 1

Status New

Directions Corner of S Lincoln and W South

High School Joliet Central High School

City Elwood

High School District 204

MLS Area Elwood

Elementary School Elwood C C School

Tax Annual Amount 3060

Middle/Junior High School Elwood C C School

Additional Parcels Y/N N

Standard Status Active

Middle/Junior School District 203

Elementary School District 203

Interior

Basement Crawl Space

Half Baths 0

Total Bedrooms 2

Room Type No additional rooms

Total Baths 1

Bedrooms Possible 2

Exterior

Parking Features Off Street Driveway Yes Other

Lot Features Corner Lot

Water Source Public

Total Parking 4

Lot Dimensions 156 x 103

Lot Size Acres 0.37

Waterfront Y/N N

* Excluded Features

List By

Keller Williams Infinity

Broker

Heather.Schmidt@kw.com

Affordability Calculator

$2,195

Per Month

Monthly Principal & Interest: $1,940
Monthly Property Taxes: $255
Monthly Home Insurance: --

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Yearly 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.

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Nearby

Trends
Schools

Single family listings in Elwood, IL

Average List Price ^$452,992

Percent of Sale Price 44%

About Elwood, IL

2,131 Population

33% Since 2002

^$67,748 Median Income

40.94 Median Age

29% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

1540344 Elementary School

1540748 Middle School

Joliet Central High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/6/2026	$315,000		Listed Price

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Financial calculator disclaimer: 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.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Data is updated as of 3/8/2026.

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Single Family: MLS #12568661

Single Family Home for sale in Elwood, IL

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