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211 & 211 1/2 E Stephenson St, Freeport IL 211 1/2 E Stephenson St

5 Unit Block of Flats £131,853 (£26,371/Unit) Freeport, IL 61032

Investment Highlights

  • In Enterprise Zone
  • Mixed Use Property
  • Downtown Location

Executive Summary

Opportunity for a multi-use property within the downtown area of Freeport within Enterprise Zone. Being listed as the address of 211 E Stephenson St, 211 1/2 E Stephenson St is also part of this building and sale. 211 is a large commercial office with multiple separated spaces; a bathroom with sink and toilet, a kitchenette, rear exit door, unfinished basement, high ceilings, and excellent visibility on Stephenson Street. Tenant responsible for all utilities in their unit (gas, water, electric), as designated on current lease. 211 1/2 consists of four 1 bedroom/1 bath apartment units; two on the second floor, and two on the third floor. Each unit has their own furnace (gas forced air), and gas and electric meter. Tenants are responsible for their own gas and electricity utilities as designated on current leases. Owner is responsibly for water/sewer/garbage utilities, and the common hallway electric. Some updates to the apartments include new water heaters for Unit 3 and 4 in 2021 and 2022, and a new furnace for Unit 3 in 2018. The city of Freeport has a 24-hour parking lot diagonally across of Stephenson Street from this building for patrons and tenants to utilize; street parking also available. All units are occupied and current at this time. Financial information can be shared at request, and with permission of owner. Will require 48 hours notice and approval to show; Owner and/or Listing Agent to be present for showings unless otherwise stated at time of scheduling. Photos shown of the exterior of the building are current. Photos of units were taken prior to tenancies. Buyer to verify all information, details and measurements. Owner/Seller is an Illinois Licensed Leasing Agent, and property manager.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Net Operating Income - -

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Price £131,853
Price Per Unit £26,371
Sale Type Investment
No. Units 5
Property Type Residential
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Office Office Residential
Building Class C
Building Size 5,900 SF
Average Occupancy 100%
Number of Floors 3
Year Built 1892
Opportunity Zone Yes

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 4 - -
Bike Score ®
Very Bikeable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
18-14-31-215-002
Land Assessment
£1,197
Improvements Assessment
£4,447
Total Assessment
£5,644

zoning

Zoning Code B-2-2 (Limited Service Business Ditrict)
B-2-2 (Limited Service Business Ditrict)
  • Listing ID: 33750193

  • Date on Market: 04/11/2024

  • Last Updated:

  • Address: 211 1/2 E Stephenson St, Freeport, IL 61032

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