Frankfort Homes under $400,000

Welcome to Frankfort, Illinois—a charming village that beautifully blends suburban tranquility with vibrant community life. Nestled in Will County, Frankfort boasts a rich history, picturesque landscapes, and a welcoming atmosphere that makes it a fantastic place to call home. Known for its top-rated schools and family-friendly parks, this delightful town offers residents a quality of life that is hard to beat.

Frankfort's quaint downtown area is a highlight, featuring a variety of local shops, restaurants, and cultural events that foster a strong sense of community. Stroll through the tree-lined streets, where you’ll find seasonal farmers' markets, art fairs, and community festivals that bring neighbors together. Nature enthusiasts will appreciate the numerous parks and trails, perfect for outdoor activities and leisurely walks.

For those seeking a new home, Frankfort offers a range of options under $400,000. This price point provides an excellent opportunity for first-time buyers, families, and anyone looking to invest in a thriving community. From charming single-family homes to modern townhouses, there’s something for everyone. Many homes in this price range feature spacious yards, updated interiors, and access to excellent amenities, ensuring you can enjoy the best of Frankfort living without breaking the bank.

With its friendly atmosphere, strong community ties, and affordable housing options, Frankfort, Illinois, is truly a hidden gem. Discover your dream home in this lovely village and experience the warmth and charm that make Frankfort a wonderful place to live!

Newest Frankfort Homes under $400,000

20547 S Frankfort Square Road, Frankfort

$349,900

3 Beds ⋅ 2 Baths ⋅ 12732411 MLS ⋅ NEW 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 ⋅ NEW Status

20463 S Graceland Lane, Frankfort

$125,000

2 Beds ⋅ 2 Baths ⋅ 12773203 MLS ⋅ NEW 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

$249,000

3 Beds ⋅ 2 Baths ⋅ 12771757 MLS ⋅ NEW Status

Wonderful opportunity in highly sought-after Frankfort Square! This spacious raised ranch offers a fantastic layout, generous living space, and endless potential to make it your own. A BRAND-NEW ROOF in 2026 provides an excellent start to your improvements! Step inside to a sun-filled living room and dining room, perfect for everyday living and entertaining. The kitchen features white cabinetry and ample workspace, while the main level offers three comfortable bedrooms and a full bath. The finished lower level expands the living space with a spacious family room, convenient half bath, and a versatile office ideal for working from home, a playroom, or additional flex space. A door from the lower level leads to the deck overlooking the privacy-fenced backyard, complete with a storage shed and pool-an inviting setting for outdoor entertaining and summer enjoyment. This home does need some updating and TLC, but offers tremendous potential for the buyer looking to add their own personal touches and build equity. Great location in popular Frankfort Square-bring your decorating ideas and transform this home into something truly special! Located within walking distance to local parks, amenities, and shopping centers. Easy access to major expressways and public transportation makes commuting a breeze.

20519 S Acorn Ridge 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

$89,900

3 Beds ⋅ 2 Baths ⋅ 12760908 MLS ⋅ ACTIVE Status

Beautifully maintained and this spacious mobile home offers an impressive split bedroom floor plan filled with natural sunlight and enhanced by soaring vaulted ceilings throughout. Major big-ticket improvements are already complete roof 2014 and air conditioning in 2014 offering peace of mind for years to come. The home welcomes you with a bright and expansive living/dining room combo. The spacious kitchen has a new stove and microwave that are 2 years old. The luxurious master suite features its own private bath with a whirlpool garden tub and separate shower, and a walk-in closet. With a total of three bedrooms and two full baths, this home offers comfortable space for family, guests, or a home office as bedroom #3 does not have a closet. A large laundry room and a two-car garage add everyday convenience. Meticulously cared for and filled with desirable amenities, this exceptional home blends comfort, style, and value-ready for its next proud owner. Gateway 55+ community has numerous amenities....Club house with Great Room and Fireplace, Fitness center, Library, Billards, Ping Pong, Walking paths, stocked Fishing ponds /with pier, Covered Pavillion w/gas grills....there are planned activities in the Clubhouse to keep everyone busy! Make your appointment today to see your forever home.

23001 S Cog Hill Lane, Frankfort

$379,808

3 Beds ⋅ 2 Baths ⋅ 12760891 MLS ⋅ ACTIVE Status

Completely rehabbed and move-in ready, this beautifully updated raised ranch in Frankfort Square offers 3 bedrooms, 1.5 baths, and a 2-car attached garage, all within the highly regarded Lincoln-Way East High School district. The updated kitchen features crisp white shaker cabinetry, quartz countertops, stainless steel appliances, and a stylish tile backsplash, while both bathrooms have been fully remodeled with modern finishes, all with oversized white trim throughout. A brand-new two-tier deck extends from the eating area and overlooks the fully fenced backyard, with convenient storage space underneath. Extensive improvements include most windows replaced, all-new plumbing and venting stacks, a new furnace and A/C installed in 2023, new siding in 2023 & 2026, and additional blown-in attic insulation for improved efficiency. Outside, enjoy the new extended driveway and a brand-new walkway connecting the driveway to the backyard. With extensive updates throughout and nothing left to do but move in, this Frankfort Square home offers modern style, functionality, and outdoor living in a highly desirable location served by award-winning Lincoln-Way East High School.

7665 W Sterling Drive, Frankfort

20335 S Rainford Drive Unit #1B, Frankfort

$230,000

2 Beds ⋅ 2 Baths ⋅ 12743226 MLS ⋅ ACTIVE Status ⋅ Hawthorne Lakes BLDG.

Freshly painted 2-bedroom, 2-bath first-floor condo in a 55+ elevator building! The porch was recently enclosed, adding a great space to enjoy throughout the seasons. Inside, you'll find an open living and dining area, kitchen with appliances staying, and a primary bedroom with a private full bath. The second bedroom is located near the additional full bath. In-unit laundry includes a full-size washer and dryer, utility sink, and counter space. An oversized 1-car garage provides plenty of additional storage.

20335 S Rainford Drive Unit #1B, Frankfort

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