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Property
Midwest 2 Unit Multifamily Building
206 S Jefferson St. Lockport IL 60441
$280,000
Pricing/Terms Explained
$140,000 Per Unit
**Buyer's Premium Waived
3
Beds
2
Baths
1,750
Sq. Ft.
1924
Yr. Built
100%
Occupancy
3
Spaces
1
Story
Forced
Air
Owned
Laundry
Street
View
Property Summary
Type
2-Unit Multifamily
In Place NOI
$20,337
Target CAP Rate
7.2%
Today's Market Value
$310,000
Target Purchase Price
$280,000
Units
2
Projected NOI
$23,900
Cost Per Unit
$140,000
Investment Strategy
Purchase at target price with 25% down payment. Property prices and rental rates are increasing in the area. Refinance and pull cash out based on higher property valuation.
About The Property
A well maintained 2 unit located in the heart of downtown Lockport. The property is 1 story built on a crawlspace foundation. The building has been well maintained. It features a newer roof and newer mechanicals, including a forced air HVAC system.
About The Neighborhood
Lockport is a city in Will County, Illinois, United States, located 30 miles southwest of Chicago. Per the 2020 census, the population was 26,094. The city was incorporated in 1853. It is situated along the Illinois and Michigan (I&M) Canal, and was the headquarters of the canal when the canal was operating. A section of the canal runs through Lockport, including the remains of the canal's Lock No. 1 from which the town received its name. The canal right-of-way is now the Illinois and Michigan National Heritage Corridor.
Due Diligence
Documents
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Market report showing trends and insights.
Locked.
Property
Financials
Purchase Price of Property
Property Current
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Year 2 Pro Forma
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Debt Service
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Property
Performance
View the return metrics based on various inputs.
"Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
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