Frankfort Homes under $400,000

Welcome to Frankfort, Illinois – a charming town that perfectly blends suburban tranquility with vibrant community spirit. Nestled in Will County, Frankfort is renowned for its picturesque landscapes, friendly neighborhoods, and a rich history that dates back to the 1800s. With its tree-lined streets and quaint downtown area, this delightful community offers residents a peaceful retreat while still being conveniently located near major highways and the bustling city of Chicago.

For those seeking their dream home without breaking the bank, Frankfort boasts a variety of beautiful properties under $400,000. Here, you will find a diverse selection of homes that cater to a range of lifestyles, from cozy single-family residences to modern townhouses. Many of these homes feature spacious yards, updated interiors, and access to top-notch schools, making Frankfort an ideal place for families and first-time homebuyers alike.

The town is also home to a wealth of amenities, including parks, recreational facilities, and a thriving local business scene. Enjoy leisurely strolls through the Frankfort Historic District, where charming boutiques and delightful eateries await. With numerous community events throughout the year, including seasonal festivals and farmers' markets, residents enjoy a strong sense of belonging and camaraderie.

In Frankfort, you’ll not only find a house but a place to call home. Discover the warmth of this community and explore the fantastic opportunities available in homes under $400,000. Your dream home in Frankfort awaits!

Newest Frankfort Homes under $400,000

$89,000

3 Beds ⋅ 2 Baths ⋅ 12777499 MLS ⋅ NEW Status

DON'T MISS THIS 47X26 SKYLINE MANUFACTURED HOME IN FRANKFORTS ONLY 55+ COMMUNITY. 3 BEDROOMS 2 BATHS. HUGE EAT-IN KITCHEN W/ALL APPLIANCES INCLUDED. FRIDGE REPLACED 2026. THE ROOF WAS REPLACED IN 2018. A/C REPLACED IN 2023. FULL SIZE WASHER AND DRYER ALSO INCLUDED. 2 CAR DETACHED 24X18 GARAGE W/OPENER.

10825 W Gateway Drive, Frankfort

$199,000

3 Beds ⋅ 2 Baths ⋅ 12778097 MLS ⋅ NEW Status

The pond view is the SHOWSTOPPER! Waterfront opportunities in Gateway's 55+ community don't come around often. Enjoy your morning coffee or unwind at the end of the day in the three-season room overlooking both the water and walking path. This original-owner home, built in 2004, offers thoughtful storage, wheelchair accessibility, and major recent updates, including a new furnace in 2025 and an on-demand water heater installed in February 2026. A lift installed in the three-season room provides wheelchair access without the maintenance or space consumption of a traditional ramp. Inside, the main living area features drywall, ceiling fans in every room, and built-in cabinets and storage throughout. The primary suite offers a spacious walk-in closet, a wide stand-up shower, and updated vinyl flooring. A finished walk-up attic with its own electrical panel adds flexible space, while additional storage beneath the stairs helps keep everything organized. The heated 20x30 garage is a standout for anyone who enjoys working on cars, tackling projects, or simply wants serious hobby and storage space. Finished with drywall, it includes its own thermostat, electrical panel, ceiling fan, workbench, and pull-down stairs leading to an attic with plywood flooring. The garage and both attic spaces are fully insulated. Outside, concrete surfaces help keep maintenance simple, while window awnings along the street-facing and south sides provide additional shade. Gateway offers more than just a home, it's a lifestyle. Monthly lot rent includes water, sewer, garbage, scenic walking paths, stocked fishing ponds, clubhouse access, an exercise facility, and a full calendar of social events, fitness classes, car shows, chili cookoffs, and more. Opportunities like this are few and far between. Add in the three-season room overlooking the pond, accessibility features, incredible storage, and impressive heated garage, and this home truly stands apart. Don't wait for the next waterfront opportunity. Schedule your showing today!

23000 S Pinehurst Drive, Frankfort

$389,900

3 Beds ⋅ 2 Baths ⋅ 12724925 MLS ⋅ NEW Status

21163 Deerpath Road, Frankfort

$389,900

3 Beds ⋅ 2 Baths ⋅ 12776761 MLS ⋅ NEW Status

Exceptional Frankfort location near the end of Pfaff Dr* One family owned since new* Private and secluded, yet only minutes from historic Downtown Frankfort* Your family will love its proximity to parks, Old Plank Trail, restaurants, specialty shopping, and year round events and activities* This Split Level home features a large fully fenced lot shaded with mature trees* Full brick surrounds the first floor* Inside you'll find three nicely sized bedrooms and two full bathrooms* The eat-in kitchen has loads of oak cabinetry and features a skylight to bring in the sunshine* Separate dining room* Sliding glass doors to deck* Spacious family room offers brick-faced wood-burning masonry fireplace with mantel* Hardwood floors under carpet on main and second floors* Ceramic tiled foyer is also brightly lit by its own skylight* Large utility room with washer, dryer, wash sink, water softener, and extra room for storage* Detached true 2.5 car garage is extra deep and allows for a convenient work area* This well-built home is offered as an Estate Sale and will be sold as-is* All interior furnishing are available if desired*

212 Pfaff Drive, Frankfort

20547 S Frankfort Square Road, Frankfort

$349,900

3 Beds ⋅ 2 Baths ⋅ 12732411 MLS ⋅ ACTIVE Status

Welcome home! Fantastic two-story home in Frankfort Square, featuring a heated pool perfect for entertaining and making lasting memories. Step inside to a spacious foyer that welcomes you into the bright living and dining rooms, featuring brand-new carpet. The updated kitchen is sure to impress with modern cabinetry, quartz countertops, a stylish new backsplash, stainless steel appliances, and a sliding glass door that opens to the deck, heated pool, and generously sized fenced backyard. Just off the kitchen, the inviting family room offers brand-new carpet and a cozy fireplace, creating the perfect space to unwind. Upstairs, you'll find three generously-sized bedrooms and an updated full bath featuring a beautifully tiled shower and a convenient dressing/vanity area. Brand new roof! Newer siding and new gutters!

20547 S Frankfort Square Road, Frankfort

$375,000

3 Beds ⋅ 2 Baths ⋅ 12764831 MLS ⋅ ACTIVE Status

20463 S Graceland Lane, Frankfort

$125,000

2 Beds ⋅ 2 Baths ⋅ 12773203 MLS ⋅ ACTIVE Status

Welcome Home! Experience the absolute best in active adult living in this beautifully updated, move-in-ready home located in the highly sought-after Gateway 55+ Community of Frankfort. Designed for comfort, convenience, and a vibrant social lifestyle, this turn-key property offers independent living with premium modern updates. Move-In Ready Upgrades: Enjoy brand-new, plush carpet in the living areas and bedrooms, paired with durable, stylish new vinyl flooring through the high-traffic zones. The master suite features a generous walk-in closet and a private en-suite bathroom. The second bedroom and full guest bathroom are perfect for overnight visitors or a dedicated home office. The oversized attached garage offers plenty of room for two vehicles, plus extra space for a golf cart, workshop, or storage.

22651 Foxfire Drive, Frankfort

$377,000

4 Beds ⋅ 2 Baths ⋅ 12756347 MLS ⋅ ACTIVE Status

Welcome home to this well-maintained 4-bedroom brick raised ranch, ideally located just minutes from Downtown Frankfort, Lincoln-Way East, shopping, dining, parks, and all that Frankfort has to offer! Step inside the inviting foyer and discover a home office or living room featuring three extra closets, providing excellent storage and new carpet. The lower level is designed for comfortable everyday living and entertaining, featuring a large family room with a stone wood-burning fireplace, dining area, and eat-in kitchen. The kitchen offers stainless steel appliances, recessed lighting, an island with breakfast bar, and an abundance of maple cabinetry, including soft-close features and drawer glides. A convenient half bathroom and laundry room complete the lower level, which also provides direct exterior access to the backyard. Upstairs, you'll find four generously sized bedrooms, each with a ceiling fan, along with beautiful hardwood flooring throughout the entire upper level. Step outside and enjoy the expansive backyard and concrete patio, perfect for outdoor entertaining or just relaxing and all trees on the property recently trimmed. The oversized 2.5-car detached garage provides plenty of room for vehicles, hobbies, additional storage and new overhead door (2025). Numerous updates and improvements add peace of mind, including maintenance-free vinyl siding, LeafGuard gutters, Pella windows, and a gas line to the garage (currently capped). Major mechanical updates include A/C (2025), furnace (2019),water heater (2024), softener/brine tank (2024), reverse osmosis (2024),and sump pump (2018). The roof on both the home and garage was replaced in 2014, insulation was added throughout the home in 2025, and the lower level features new laminate flooring. A fantastic opportunity to own this move-in ready home. This one is a must see!

408 N Locust Street, Frankfort

20203 S Fairwood Court Unit #D, Frankfort

$260,000

3 Beds ⋅ 1 Baths ⋅ 12760330 MLS ⋅ ACTIVE Status

Just redone with new maple cabinets, new flooring throughout, new appliances, in unit washer and dryer and new paint! Not a thing to do but move in and relax! Great 2nd floor, 3 bedroom unit has attached garage with direct access, and a pond next door too. Close to all the downtown Frankfort shopping and dining. Easy access to expressways.

20203 S Fairwood Court Unit #D, Frankfort

$344,900

4 Beds ⋅ 2 Baths ⋅ 12763326 MLS ⋅ ACTIVE Status

This Frankfort home has been refreshed from top to bottom, with the space, updates, and backyard you've been waiting for! From the brand NEW roof, the fresh paint and new flooring, to the updated light fixtures and stylish finishes, every detail has been thoughtfully refreshed for today's lifestyle. The stunning kitchen has been beautifully updated with painted cabinetry, new hardware, a porcelain tile backsplash, new dishwasher, and garbage disposal. Both bathrooms have also been tastefully updated with contemporary finishes including custom stacked brick accent walls. The spacious layout offers room for everyone, featuring a large living room, a family room, and an oversized dining area that's perfect for hosting holidays, dinner parties, or everyday gatherings. Outside the home continues to shine. Relax or entertain beneath the custom, handcrafted pergola, creating the perfect outdoor living space. The large, fully fenced backyard offers plenty of shade, room to play, and includes a brand-new storage shed. Whether you're enjoying summer barbecues, evenings around the outdoor living area, or simply unwinding in your private backyard, this space is ready to impress. Additional updates include renovated laundry room, finished garage with built-in storage and workbench, updated interior doors, refreshed landscaping, and numerous improvements throughout the home. All that's left to do is move in, make it your own, and start enjoying everything this Frankfort home has to offer!

20558 S Graceland Lane, Frankfort

$169,900

3 Beds ⋅ 3 Baths ⋅ 12762098 MLS ⋅ ACTIVE Status

Welcome to Gateway 55+ community! This home was built 12 years ago on a prime desirable lot with having a lovely backyard that backs up to open land! The view is beautiful and you can enjoy the peaceful setting right outside on your maintenance free composite deck with a retractable awning. This exceptional home offers over 1800 sq ft of living space. The family room is an open concept room adjoining with the spacious kitchen. In the family room the sliding doors opens up and leads you onto your deck to enjoy the quiet peaceful yard. The living room and dining room is a great size for gatherings. This large 3 bedroom house offers spacious rooms. The generous size master bedroom has a walk-in-closet, plus another smaller closet and ensuite. This house has been well maintained and is ready for the next owners to enjoy! New appliances includes: 2 refrigerators, dishwasher, washer/dryer. There's a lot to enjoy in this lovely community. The clubhouse is nearby, which has an exercise room. There's a few walking paths to enjoy, with one being behind the house making it convenient to take a nice morning stroll. As you are walking you will pass by a catch and release pond with a beautiful water fountain. It's a great place to enjoy the view and relax throwing out a line. This community is just a short drive to Historic downtown Frankfort, which offers entertainment, shopping and restaurants. This home is move in ready! Even though this house has been meticulously kept up it is being conveyed "As Is" condition. Monthly Lot Rental Includes: Water, Trash Collection, Sewer, Property Tax, Club House, Exercise Facilities

22949 S Glen Eagle Drive, Frankfort

$149,900

3 Beds ⋅ 2 Baths ⋅ 12762374 MLS ⋅ ACTIVE Status

Gateway an Over 55 community, at least 1 occupant must be 55+. No residents under 19 allowed. Looking for a bigger home and everything is too small? This is a 7 room house with L/R, D/R, F/R, eat-in kitchen, 3 bedooms and 2 baths. Here is your home a 28'X67' oversized Shamrock all drywall home on a corner lot that faces the street. Beautifully maintained home with large SCREENED-IN rear deck and 2 car HEATED garage. Sliding glass doors in family room lead to a large SCREENED IN deck on the rear of the home. CLACK water softener included. Newer INTERTHERM furnace 2026. 6 year old roof. Whirlpool range Dec. 2025, High-end Bosch dishwasher 5 years old, Samsung washer/dryer late 2025, newer water heater, newer Whirlpool refrigerator. All new carpet T/O and paint. Kitchen has a pantry and white cabinets. Chest freezer stays, TV on wall stays, and desk in office stays. This is one of the largest lots in the Gateway community. Front and rear step are double the size of normal steps for ez access to home. Corner lot therefore very few neighbors. Credit and Background checks required by the management. Park includes a walking trail, clubhouse with exercise room, gazebo and pond. 1 pet allowed. Immediate possession and measurements are approximate.

22738 S Ridge Lane, Frankfort

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