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Lockport 60441
1007 Read Street
$315,000
● House - Off Market

1007 Read Street

Lockport, IL 60441
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,901 Ft²
$2,201
Est. Monthly
7.77%
Cap Rate

About This Property

Welcome to this 3-bedroom, 2.5-bath brick ranch, perfectly situated near great schools and beautiful parks in Kelvin Grove. Nestled on a picturesque corner lot, the property offers a manicured yard, attached two-car garage, and a generous basement-ideal for storage, hobbies, or future finishing.  While the home awaits your personal updates and cosmetic touches, many major systems have been cared for, including a new AC condenser in 2020, brand new sump pump with battery back-up in 2025, and well-maintained HVAC. With solid bones and a welcoming layout, two fireplaces and a prime location, this solid brick ranch offers the perfect canvas for your modern updates and lasting memories.
Unit Size
1,901 Ft²
Days on Market
-
Land Size
-
Price per sqft
$158
Property Type
House
Property Taxes
$728
HOA Dues
-
Year Built
1974

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Cap Rate Calculator

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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1974
  • Effective Year Built: 1974
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,172
  • Total Building Area: 0
  • Building Area: 0

    Heating and Cooling

  • Fireplace Count: 2
  • Air Conditioning: 1
  • Heating: 24
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: KELVIN GROVE UNIT 5-L
  • Land Acres: 0000000230
  • Standard Land Use Code: 1001
  • County Land Use Code: 0040
  • Legal Description 1: LOT 520 IN KELVIN GROVE SUB UNIT 5-L, BEING A SUB OF PRT OF THE SW1/4 OF SEC. 24, T36N-R10E.

Neighborhood

  • School District Name: Lockport Township High School District 205
  • Census Tract: 880601

Geography

  • Parcel: 11-04-24-323-025
  • Lot: 520
  • Meridian: SEC 24 TWN 36N RNG 10E
  • Municipality: LOCKPORT
  • Latitude: 41.5843
  • Longitude: -88.0357

    Address

  • Full Address: 1007 Read St
  • Legal Unit: 5-L
  • Address - House Number: 1007
  • Address - Street Name: Read
  • Address - Suffix Type: St
  • State: IL
  • City Name: Lockport
  • Carrier Code: C005
  • 4-Digit Zip Code: 3731
  • Zip Code: 60441

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $772,292
  • Tax Rate Code Area: 1112

    Appraisal Valuation

  • Standard Deviation: 0.1487
  • Valuation Date: Aug 09, 2023
  • Confidence Score: 82
  • Final Value: 326,401
  • High Value: 374,964
  • Low Value: 277,838

    Market Valuation

  • Market Total Value: $284,673
  • Market Land Value: $59,208
  • Market Improvement Value: $225,465

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $94,891
  • Assessed Land Value: $19,736
  • Assessed Improvements Value: $75,155

    Exemptions

  • Senior Citizen Exemption : Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jul 29, 2005
  • Current Sale Recording Date: Aug 03, 2005
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: R2005131604
  • Previous Sale Recording Date: Oct 10, 1995
  • Previous Sale Contract Date: Oct 06, 1995
  • Previous Sale Amount: $157,500
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Lockport

Stats & Trends

Median Asking:

$389,490

Sale Price/ft²

$220

Below Asking

0.01%

Average Days on Market

46

Average Home Size

1963 ft²

Average Home Age

29.2 years

Currently For Sale

66 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 620 N State Street, Lockport, IL, 60441

$2,550 /mo

  • 4 Beds
  • 1 Bath
620 N State Street, Lockport, IL, 60441 Listing by Kevin Burke

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Jennefer Folsom, @properties Christie's International Real Estate
Data Source: MRED, MLS# MRD12444702
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 1007 Read Street built and last sold?
The property at 1007 Read Street was built in 1974 and last sold on Jul 29, 2005 for $220,000.
How much is this home worth?
The estimated value of the home located at 1007 Read Street is $308,844.
What are some comparable homes to 1007 Read Street?
There are currently no comparable homes to 1007 Read Street.
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