Price Reduction - Primary on Main
Address
306-310 S Lincoln Street, Elwood, IL
Price
$ 290,000
Property Attributes
- MLS#12699018
- TypeSingle Family
- Listing Status Price Change
- CountyWILL
- CityElwood
- AreaElwood
- Zip60421
- Style
- Taxes$ 3331
- Price$ 290,000
- Bedrooms4
- Full Bathrooms2
- Half Bathrooms0
- Lot Size0.37 Acres
Data Source:
Midwest Real Estate Data (MRED)
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. - 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.
| Price History | |
|---|---|
| 7/8/2026 | Listed $325,000 |
| 8/6/2026 | 2$319,999 |
| 8/26/2026 | 2$314,999 |
| 9/1/2026 | 8$290,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Natural Gas,Forced Air |
| Cooling | None |
| Possession | Closing |
| Association Fee Includes | None |
| Construction Materials | Vinyl Siding |
| Township | Jackson |
| Tax Year | 2025 |
| Ownership | Fee Simple |
| Assoc Fee Paid Per | Not Applicable |
| County | Will |
| New Construction | No |
| Property Type | Residential |
| Total Rooms | 6 |
| Full Baths | 2 |
| Status | Price Change |
| Directions | I-55 to Route 53,west on Mississippi Ave,south on Chicago Ave to Lincoln St. Property is on the corner of Lincoln St and Mississippi Ave in Elwood. |
| City | Elwood |
| High School District | 204 |
| MLS Area | Elwood |
| Tax Annual Amount | 3331 |
| Additional Parcels Y/N | No |
| Standard Status | Active |
| Middle/Junior School District | 203 |
| Elementary School District | 203 |
| Property Type | Detached Single |
Interior Features
| Basement | None |
|---|---|
| Total Bedrooms | 4 |
| Room Type | No additional rooms |
| LivingAreaSource | Not Reported |
| Total Baths | 2 |
| Bedrooms Possible | 4 |
Exterior Features
| Parking Features | Yes,Owned |
|---|---|
| Water Source | Public |
| Total Parking | 4 |
| Lot Dimensions | 156 x 103 |
| Lot Size Acres | 0.37 |
| Waterfront Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 60421
Price
Taxes
Visits
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Real People Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.Based on information submitted to the MLS GRID as of September 2, 2026 1:11 PM UTC 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.
Data is updated as of September 2, 2026 1:11 PM UTC
