211 1/2 E Stephenson St - Apartments FOR SALE


Freeport, IL 61032
$166,900 USD
224-456-8786
211 1/2 E Stephenson St, Freeport, IL for Sale
$166,900 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

211 1/2 E Stephenson St
Freeport, IL 61032


HIGHLIGHTS

  • In Enterprise Zone
  • Downtown Location
  • Mixed Use Property

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$166,900 USD

PRICE/SF

$28 USD /SF

# OF UNITS

5

PRICE/UNIT

$33,380

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

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

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1892

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,338 SF

ZONING

B-2-2

APN/PARCEL ID

18-14-31-215-002

ASK ABOUT THIS PROPERTY

Paige BurnettKeller Williams Realty SignatureMore Info
224-456-8786

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Paige BurnettKeller Williams Realty SignatureMore Info
224-456-8786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.