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1100-1106 S State St Apartment Building $2,000,000 7.93% Cap Rate Lockport, IL 60441
Investment Highlights
- 7.93% Cap Rate
- 10 Year Lease with 3% Annual Increases
- 14.41% Pro Forma Cash on Cash Return
- Downtown
- 8.79% Pro Forma Cap Rate
Executive Summary
Downtown Lockport featuring a stabilized income stream and long-term upside. Above the retail space are five fully leased apartments with spacious layouts, including large two-bedroom and unique two-story units, providing consistent residential income. The property includes a well-established restaurant tenant on a 10-year lease with annual increases, occupying approximately 4,500 SF and covering key utilities-helping reduce operating expenses.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$207,000
|
$18.38
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$207,000
|
$18.38
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$48,439
|
$4.30
|
| Net Operating Income |
$158,561
|
$14.08
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $207,000 |
| Annual Per SF | $18.38 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $207,000 |
| Annual Per SF | $18.38 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $48,439 |
| Annual Per SF | $4.30 |
| Net Operating Income | |
|---|---|
| Annual | $158,561 |
| Annual Per SF | $14.08 |
Property Facts
| Price | $2,000,000 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 11,260 SF |
| Cap Rate | 7.93% | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1891 |
| Property Subtype | Apartment | Cross Streets | E 11th St. |
| Building Class | C |
| Price | $2,000,000 |
| Sale Type | Investment |
| Cap Rate | 7.93% |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 11,260 SF |
| No. Stories | 2 |
| Year Built | 1891 |
| Cross Streets | E 11th St. |
1 1
Walk Score®
Very Walkable (80)
Property Taxes
| Parcel Number | 11-04-23-327-001 | Improvements Assessment | $85,133 (2024) |
| Land Assessment | $54,048 (2024) | Total Assessment | $139,181 (2024) |
Property Taxes
Parcel Number
11-04-23-327-001
Land Assessment
$54,048 (2024)
Improvements Assessment
$85,133 (2024)
Total Assessment
$139,181 (2024)
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1100-1106 S State St
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