Jim was born to Willard and Lydia Lockbaum in Neenah, Wisconsin, and raised in Milwaukee. He played football on the state high school championship team. Joining the Air Force after graduation, he was stationed in Cheltenham, England, where he met his wife Heather Gardner. They were married in Plattsburgh, New York in 1956, and had 6 children.
Jim attended Arizona State University
, earning a degree in Criminal Justice. He worked for Dolphin Inc., in Phoenix, until 1994 when he and Heather moved to Cripple Creek, Colorado. Jim worked in the casinos until his retirement, moving to Colorado Springs in 2008.
Jim is survived by his wife Heather, sisters Margeret Salerno and Mary Anne Lockbaum, brother Jerome Lockbaum, and sons James Lockbaum Jr., Elliot Lockbaum, Peter Lockbaum, daughters Laura Reilly and Michelle Terran, and grandchildren Shanna Gray, Jesse Reilly, Jack Reilly, Julie Terran and Jamie Terran.
He is predeceased by a daughter, Julie Lockbaum, and grandson, Daniel Reilly.
As Jim wished, cremation has taken place and a private family gathering has been held.