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Apartment Building 1322 E 9th St 6 Unit Apartment Building $999,000 ($166,500/Unit) 6% Cap Rate Lockport, IL 60441
Investment Highlights
- Location
Executive Summary
Well maintained 3 story apartment building. The 2nd floor units are 2bed/2bath about 1200 SF. Building units are partially renovated since renovations were done in between Move out/Move in new tenants. Owner lives in one of the first floor units which are 1 bedrroom,1 bath and can be rented for $1200 prior to sale. First floor also has storage closets per unit and laundry room.
This building has a lot of updates in the last 10 years.
New windows
Roof 2017
Interior updates,
Boiler,
Heat system flushed and updated,
Laundry facility updated,
And Units Remodeled.
Lockport fire department checks building each year and all lighting, exits, sprinklers checked 2 months ago.
Call with any Questions to Maria or Beata
815-483-0361
This building has a lot of updates in the last 10 years.
New windows
Roof 2017
Interior updates,
Boiler,
Heat system flushed and updated,
Laundry facility updated,
And Units Remodeled.
Lockport fire department checks building each year and all lighting, exits, sprinklers checked 2 months ago.
Call with any Questions to Maria or Beata
815-483-0361
Data Room Click Here to Access
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$90,000
|
$15.00
|
| Other Income |
$3,600
|
$0.60
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$93,600
|
$15.60
|
| Taxes |
$14,304
|
$2.38
|
| Operating Expenses |
$16,000
|
$2.67
|
| Total Expenses |
$30,304
|
$5.05
|
| Net Operating Income |
$63,296
|
$10.55
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $90,000 |
| Annual Per SF | $15.00 |
| Other Income | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.60 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $93,600 |
| Annual Per SF | $15.60 |
| Taxes | |
|---|---|
| Annual | $14,304 |
| Annual Per SF | $2.38 |
| Operating Expenses | |
|---|---|
| Annual | $16,000 |
| Annual Per SF | $2.67 |
| Total Expenses | |
|---|---|
| Annual | $30,304 |
| Annual Per SF | $5.05 |
| Net Operating Income | |
|---|---|
| Annual | $63,296 |
| Annual Per SF | $10.55 |
Property Facts In Escrow
| Price | $999,000 | Apartment Style | Low-Rise |
| Price Per Unit | $166,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 6% | Building Size | 6,000 SF |
| Gross Rent Multiplier | 10 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1990/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.43/1,000 SF |
| Zoning | R - Commercial | ||
| Price | $999,000 |
| Price Per Unit | $166,500 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 10 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1990/2023 |
| Parking Ratio | 1.43/1,000 SF |
| Zoning | R - Commercial |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Breakfast Nook
- Dining Room
- Family Room
- Linen Closet
- Pantry
- Window Coverings
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Bicycle Storage
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $1,448 | 1,200 |
| 1+1 | 2 | $1,075 | 1,000 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 11-04-13-410-026 | Total Assessment | $172,219 (2024) |
| Land Assessment | $40,903 (2024) | Annual Taxes | $14,304 ($2.38/SF) |
| Improvements Assessment | $131,316 (2024) | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
11-04-13-410-026
Land Assessment
$40,903 (2024)
Improvements Assessment
$131,316 (2024)
Total Assessment
$172,219 (2024)
Annual Taxes
$14,304 ($2.38/SF)
Tax Year
2025 Payable 2025
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Presented by
Beata Kessler
Apartment Building | 1322 E 9th St
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