Frankfort Homes under $500,000

Welcome to Frankfort, Illinois—a charming village nestled in the heart of Will County. With its picturesque landscapes, vibrant community, and rich history, Frankfort offers a unique blend of suburban tranquility and urban convenience. Just a short drive from Chicago, this delightful town boasts a welcoming atmosphere and a strong sense of community, making it an ideal place for families, young professionals, and retirees alike.

Frankfort is known for its beautiful tree-lined streets, historic downtown area, and an array of parks and recreational facilities. Residents enjoy a variety of local shops, restaurants, and cultural events throughout the year, fostering a close-knit community spirit. The Frankfort Park District provides ample opportunities for outdoor activities, including hiking, biking, and sports, ensuring there’s always something to do.

When it comes to housing, Frankfort truly shines. With homes available under $500,000, the area offers a range of options for those looking to settle down without breaking the bank. From charming single-family homes with spacious yards to modern townhouses in family-friendly neighborhoods, there’s something to suit every taste and budget. Many properties feature stunning interiors, updated amenities, and easy access to local schools, making them perfect for growing families.

Whether you’re seeking a peaceful retreat or a vibrant community, Frankfort, Illinois, is a place where you can truly feel at home. Explore the possibilities today and discover why so many are choosing to call this enchanting village their home!

Newest Frankfort Homes under $500,000

$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

$499,900

4 Beds ⋅ 2 Baths ⋅ 12776862 MLS ⋅ NEW Status

A truly special Frankfort home offering exceptional space, thoughtful updates, and an incredible backyard setting! Ideally located just minutes from Downtown Frankfort, this beautifully maintained home is close to parks, walking paths, boutique shops, restaurants, and the many year-round events that make this community so desirable. The newly remodeled kitchen (2026) is a stunning centerpiece, beautifully updated with custom finishes and a fresh, timeless design. The sun-filled living room and spacious family room provide plenty of room to relax and entertain. The home offers 4 bedrooms, including a one-of-a-kind third-floor getaway with endless possibilities-from a private primary bedroom oasis to a rec room, library, home office, or relaxing retreat. Outside, enjoy an incredible oversized backyard with mature trees, a large gazebo, concrete patio, and custom firepit, creating an inviting setting for entertaining or relaxing outdoors. Pristine, beautifully cared for, and filled with thoughtful touches, this Frankfort home offers a wonderful combination of character, flexibility, and an unbeatable location!

220 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

$449,000

3 Beds ⋅ 3 Baths ⋅ 12717429 MLS ⋅ ACTIVE Status

Awesome 3 bedroom, 2.5 bath, 2-story Townhouse on excellent lot in Brookridge Creek! Perfect location steps from Old Plank Trail! MAIN LEVEL PRIMARY BEDROOM! Features include dramatic elevated foyer with hardwood floor, skylight and Palladium window! Spectacular great/family room with soaring beamed ceiling, hardwood floor, dual skylights, 2 way stone fireplace, wet bar with granite top & wine rack, triple palladium windows, ceiling fan and triple French glass doors out to the deck! Wow! Well designed kitchen includes raised panel cabinets, granite counters, hardwood floor, dark stainless steel appliances, scratch resistant sink, dry bar area and spacious eating area with bay window, cathedral ceiling and recessed lighting! Formal dining room with hardwood floor and elevated ceiling! Double door entry to the main level primary bedroom with (3) panel oversized windows and crown molding! Primary bath suite includes custom vanity with dual surface mount sinks, whirlpool tub, sit down shower with stone floor, separate toilet room and walk in closet! Much desired main level den/office with brick fireplace! Main level powder room! Hardwood stairs lead you up to the second level loft with huge walk in closet and recessed lighting! (2) Upper-level bedrooms include (3) panel windows, ceiling fans and Jack & Jill bath! Main level laundry room with cabinets and sink! Partially finished basement with recreation area, storage area, recessed lighting and crawl! Attached 2 car garage with new (2025) epoxy floor! Fabulous outdoor space with oversized deck, privacy wall and deep/expansive open space! Walking distance to Old Plank Trail, post office and park! Newer (2023) furnace, central air and humidifier! Newer (2024) roof/gutters/skylights! Newer (4/5 yrs) kitchen appliances! Hurry!

10472 Brookridge Creek Drive, Frankfort

$418,900

3 Beds ⋅ 2 Baths ⋅ 12770945 MLS ⋅ ACTIVE Status

Located in the desirable Lakeview Terrace neighborhood, is this inviting quad-level home! Offering a great location within a half mile of the Frankfort Square Park District, you'll enjoy easy access to a playground, pond, and walking paths. Step inside to an immaculate interior offering neutral decor, a comfortable layout and spacious room sizes. The main living area features a sun-filled living room, formal dining room, and spacious kitchen with a dinette and sliding doors leading to the deck. The cozy family room offers a fireplace and plenty of room to relax. A large laundry room adds convenience, while the unfinished sub-basement provides additional storage and room for future expansion. Three bedrooms and two full bathrooms complete the living space. Outside, enjoy the fenced-in yard and extra-deep 2.5-car garage. Additional features include a lawn sprinkler system, whole-house generator, sump pump with backup, and brand-new carpet. Conveniently situated near numerous parks, interstates, the Metra station, shopping, dining, and more, this home is also in the highly sought-after Lincoln-Way East High School district.

7502 W Lakeside Drive, Frankfort

$454,900

3 Beds ⋅ 3 Baths ⋅ 12769054 MLS ⋅ ACTIVE Status

Sun-filled traditional 2-story townhome featuring 3 bedrooms, 2.5 baths, and an attached 2-car garage. The main floor boasts hardwood floors, a formal dining room, and a dramatic two-story living room with a cozy double-sided gas fireplace opening to the family room. Upstairs includes vaulted ceilings, skylights, and an extensive primary suite with a large walk-in closet and spa bath featuring a whirlpool tub and separate shower. Additional highlights include a finished English basement with a rec room and abundant storage, plus a spacious outdoor deck. Perfectly situated within walking distance to the Old Plank Trail, minutes from Historic Frankfort's shopping and dining, and located in the award-winning Lincoln-Way school district.

21336 Settlers Pond 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

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