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Joanne Maher

joanne@stellarresultsrealty.com +1(815) 355-0750

$ 300,000

Est. payment -/mo

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Active

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 12783283

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

SELLER IS MOTIVATED 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. - 310 available for rent $1875 and 306 is rented currently for $1875 as well All utilities and internet included. 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

Area Elwood

Rooms

Basement None

Interior

Heating Natural Gas, Forced Air

Cooling None

Fireplace N

Building

Dwelling Type Detached Single

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Public

Level or Stories 1 Story

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

Listed by Michael Woloszczuk of Avenue Properties Chicago

NEARBY SCHOOLS & PROPERTIES

Joanne Maher

Broker License ID: 475.130055

+1(815) 355-0750

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Joanne Maher

306-310 S Lincoln ST Elwood, IL 60421

Key Details

Location

Rooms

Interior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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306-310 S Lincoln ST