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$ 110,000
Est. payment /mo
Price Dropped by $10K
211 E Stephenson Freeport, IL 61032
5,040 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,040 sqft
Price per Sqft $21
Subdivision Il
MLS Listing ID 202602154
Style 3+ Story
Annual Tax Amount $850
Tax Year 2024
Property Sub-Type 5+ Units
Property Description
REDUCED - 16 % + Pro Forma Return ! For Sale – Mixed-Use Investment / Owner-User Opportunity | Freeport, IL Well-located three-story brick commercial building offering a compelling blend of stable income and owner-user potential. Situated in a visible corridor of Freeport, this classic structure features four residential apartments and a street-level commercial space, making it ideal for investors or business owners seeking to occupy while collecting rental income. The residential component consists of four apartments, with three units currently leased, providing immediate, reliable cash flow. Units are well-configured and appeal to the area's steady demand for affordable housing, a common driver of consistent occupancy in the Freeport market . The main-floor commercial space is currently vacant, presenting a prime opportunity for an owner-user or value-add investor. With strong street presence, large storefront windows, and flexible layout, the space is well-suited for a variety of uses including retail, office, service business, or studio. Visibility and accessibility make it an attractive location for a business looking to establish or expand locally. Constructed of solid brick, the building offers classic architectural character along with long-term durability. Separate utilities (typical in similar properties in the area) and straightforward management contribute to operational efficiency . Highlights: 3-story brick mixed-use building 4 residential units (3 occupied / 1 potential upside) Vacant commercial space ideal for owner-user Income-producing with additional lease-up potential Strong visibility and central location Opportunity to offset occupancy costs with rental income This is a rare chance to acquire a partially stabilized asset with both immediate cash flow and upside through commercial occupancy or rent growth—perfect for an investor or business owner looking to control their space while building equity.
Location
State IL
Area Stephenson County
Rooms
Basement Full
Interior
Hot Water Natural Gas
Heating Electric, Natural Gas
Cooling Central Air, Window Unit
Exterior
Exterior Feature Brick/Stone, Other
Garage Spaces 9.0
Roof Type Other
Building
Sewer City
Water City
Schools
Elementary Schools Freeport 145
Middle Schools Freeport 145
High Schools Freeport 145
School District Freeport 145
Listed by A-1 AGENCY