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Listed by Michael Woloszczukof Avenue Properties Chicago
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Est. payment /mo
Price Dropped by $15K
306-310 S Lincoln ST Elwood, IL 60421
4 Beds
2 Baths
0.37 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached Single
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12658168
Bedrooms 4
Full Baths 2
Annual Tax Amount $3,331
Tax Year 2025
Lot Size 0.370 Acres
Lot Dimensions 156 x 103
Property Sub-Type Detached Single
Property Description
Rare opportunity to own a unique income-producing property featuring two separate homes situated on one oversized lot in the growing community of Elwood, Illinois. Previously tenant occupied with monthly rents totaling approximately $3,650, this versatile property presents an excellent opportunity for investors, multi-generational living, or owner-occupants looking to generate additional rental income. Both residences offer separate living spaces with endless possibilities for long-term rentals, related living arrangements, or future value-add potential. The expansive lot provides additional outdoor space, parking flexibility, storage opportunities, and room to further enhance the property over time. Whether you are an experienced investor looking to expand your portfolio or a buyer searching for a property with built-in income potential, this is a rare chance to secure a high-demand asset in a steadily developing market. Located in the heart of Elwood, this property offers the charm of small-town living while still providing convenient access to major transportation routes including I-55, Route 53, and nearby intermodal and logistics hubs that continue to fuel job growth throughout the area. Elwood has become increasingly attractive due to its proximity to Joliet, strong industrial employment centers, and continued economic development while still maintaining a quieter residential atmosphere. Residents enjoy nearby parks, local restaurants, schools, shopping, and quick access to surrounding suburbs. The property is also positioned near the CenterPoint Intermodal Center, one of the largest inland ports in North America, bringing continued employment opportunities and long-term growth potential to the surrounding area. With increasing demand for rental housing in Will County and strong commuter accessibility, this property offers both immediate cash flow potential and long-term upside. Whether you choose to rent both homes, live in one while leasing the other, or hold as a long-term investment, opportunities like this are difficult to find. Property is being sold as-is. Buyer and buyer's agent to verify all information including zoning, room sizes, rental income, and intended use.
Location
State IL
County Will
Rooms
Basement None
Interior
Heating Natural Gas, Forced Air
Cooling None
Fireplace N
Exterior
View Y/N true
Building
Story 1 Story
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction false
Schools
School District 203, 203, 204
Others
HOA Fee Include None
Ownership Fee Simple
Special Listing Condition None
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