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Active Under ContractMLS #: 126990181 / 40Get an accurate number
Active Under ContractMLS #: 126990181 / 404 Beds · 2 Baths
$300,000
306-310 S Lincoln Street, Elwood IL, 60421
Est. payment: $1,867/mo · 20% down, 30-year fixed at 6.95%, principal, interest, and taxes per the listing
Lot size
0.37 acres
Property type
Detached Single
Listed by Michael Woloszczuk with Avenue Properties Chicago
Questions about this home: Nick Rife, Rife Realty, (815) 258-1471 or Nick@RifeRealty.com
Overview
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 $11875 and 306 is rented 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
306-310 S Lincoln Street, Elwood IL, 60421
- Township
- Jackson
- County
- Will
- Area
- Elwood
Interior
- Bedrooms
- 4
- Full bathrooms
- 2
- Total rooms
- 6
- Square footage notes
- Square footage is approximate. Buyer and buyer's agent are responsible for independently verifying all room sizes, square footage, lot dimensions, and any other information deemed material.
- Heating
- Natural Gas, Forced Air
Exterior and lot
- Construction
- Vinyl Siding
- Lot size
- 0.37 acres (156 x 103)
- Parking
- Owned
- Total parking
- 4
- Sewer
- Public Sewer
- Water
- Public
Schools
- Elementary district
- 203
Listing details
- MLS number
- 12699018
- Status
- Active Under Contract
- Property type
- Detached Single
- Town
- Elwood
- ZIP
- 60421
- Updated
- Sep 8, 2026
Estimate your payment
Term, years
Your monthly payment will be
$1,867
Principal, interest, and estimated taxes.
Loan $240,000 Down $60,000
- Principal and interest
- $1,589
- Property taxes (2025, per the listing)
- $278
Ballpark estimated payments for planning. Not a quote or a preapproval.
What this estimate includes
Principal, interest, and property taxes: the listing's reported bill when MRED has one, otherwise an estimate from typical corridor rates. Insurance and any PMI are not included, and this is not an offer of credit. Your real number depends on your credit, the lender, and the property.
Talk to Nick and he will connect you with one of his preferred lenders for a real figure.
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of Sep 22, 2026, 9:05 AM CT. 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.
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