Frankfort Homes under $500,000

Welcome to Frankfort, Illinois—a charming village nestled in the heart of Will County, where small-town warmth meets modern convenience. Known for its picturesque landscapes and vibrant community spirit, Frankfort is the perfect place to call home. With its lovely tree-lined streets, historic downtown, and an array of parks and recreational facilities, this charming community offers a tranquil escape from the hustle and bustle of urban life, while still being just a short drive from Chicago.

Frankfort boasts a rich history, evident in its beautifully preserved architecture and friendly neighborhoods. Residents enjoy a blend of suburban living with easy access to shopping, dining, and entertainment options. The village is home to top-rated schools, making it a popular choice for families seeking a nurturing environment for their children.

For those looking to invest in their dream home without breaking the bank, Frankfort offers an impressive selection of homes priced under $500,000. From cozy single-family residences to modern townhouses, there’s something to suit every taste and lifestyle. Whether you’re a first-time homebuyer or looking to downsize, you’ll find a diverse range of properties that provide both comfort and value.

Explore the opportunities that await you in Frankfort, where you can enjoy a peaceful suburban lifestyle while still being close to the vibrant energy of Chicago. With its welcoming community, excellent amenities, and affordable housing options, Frankfort is truly a hidden gem in Illinois. Come discover your new home in this delightful village today!

Newest Frankfort Homes under $500,000

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

$449,000

3 Beds ⋅ 3 Baths ⋅ 12717429 MLS ⋅ NEW 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 ⋅ NEW 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

This elegant, sun-filled home features a dramatic two-story living room and a spacious family room seamlessly joined by a dual-sided see-through fireplace. Designed for entertaining and everyday comfort, the main floor offers a beautiful formal dining room, kitchen with oak cabinetry, convenient main-level laundry, and a powder room. Upstairs, vaulted ceilings and skylights flood the home with natural light, leading to a massive primary suite complete with French doors, a walk-in closet, and a spa-inspired bath with a whirlpool tub and separate shower. Enjoy outdoor relaxation on the spacious deck, or take advantage of the endless potential offered by the finished basement, where above-grade windows fill the space with natural light.

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

$420,000

3 Beds ⋅ 4 Baths ⋅ 12764716 MLS ⋅ PRICE CHANGE Status ⋅ Windy Hill Farm BLDG.

Welcome to the beautiful, aesthetically pleasing Windy Hill subdivision. Step into elevated living in this beautifully appointed 3-bedroom, 3.5-bath luxury townhome offering three finished levels of stylish comfort and functional design. From the moment you enter, you'll appreciate the rich hardwood flooring throughout the main level, elegant white crown molding, oversized 6-inch trim, and classic 6-panel white doors that create a timeless, upscale feel. Designed for both everyday living and entertaining, the gourmet kitchen features stunning maple cabinetry, granite countertops, stainless steel appliances, a spacious breakfast bar with seating, and room for a dining table. Just off the living room, enjoy outdoor relaxation on the private 8x11 deck overlooking the backyard. The versatile main level also includes a dedicated office space that can easily function as a formal dining room to suit your lifestyle. Upstairs, the luxurious primary suite is a true retreat, complete with a spacious adjoining sitting room perfect for a nursery, media lounge, reading room, or private office. The spa-inspired primary bath offers a whirlpool tub, separate shower, and an oversized walk-in closet. A conveniently located second-floor laundry room includes a large front-load washer and dryer near all bedrooms for ultimate convenience. The finished walk-out lower level adds even more living space with plush carpeting, a full bath, family room, abundant storage, and direct access to the concrete patio - ideal for guests, entertaining, or related living possibilities. Additional highlights include two separate heating and air conditioning systems for enhanced comfort and efficiency, updated designer ceiling fans, a whole-house water filtration system, pull-down attic storage, recently replaced asphalt driveway, and a roof approximately 4 years old. This exceptional home combines luxury finishes, flexible living spaces, and thoughtful upgrades throughout - all wrapped into a beautifully maintained three-story residence that truly stands apart.

8638 Saddlebred Court, 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

Start Your Search

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than our company are marked with the MRED Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (the MRED logo) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Copyright 2026 MRED LLC. All rights reserved.

Based on information submitted to the MLS Grid as of . All data is obtained from various sources and has not been, and will not be, verified by broker or MLS Grid. MRED 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.

NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the DMCA) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@theMLSGRID.com.

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Some listings have been excluded from this website.