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$ 799,900
Est. payment | /mo
11,808 SqFt
$ 799,900
Est. payment | /mo
11,808 SqFt
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Square Footage 11,808 sqft
Price per Sqft $67
MLS Listing ID 202503314
Style 3+ Story
Annual Tax Amount $4,966
Tax Year 2024
Property Sub-Type 5+ Units
Property Description
Prime Downtown Freeport Investment Opportunity – 14 Residential Units + 1 Commercial Space | 11% Pro Forma Return Located in the heart of historic downtown Freeport, IL, this mixed-use building offers an outstanding opportunity for investors seeking strong, stable cash flow in a revitalizing urban core. The property includes 14 residential units—a mix of efficiencies and 1-bedroom apartments—plus 1 street-level commercial space, providing diverse income streams and long-term value. Property Highlights: Total Units: 15 (14 Residential + 1 Commercial) Location: Centrally located in downtown Freeport – close to dining, retail, and public amenities Unit Mix: A combination of efficiency and 1-bedroom units – high demand among students, professionals, and downtown workers Commercial Space: Ideal for retail, office, or service use – strong foot traffic and visibility Condition: Solid, well-maintained structure with updated systems and appealing curb appeal Pro Forma Return: 11% projected annual return based on current market rents and realistic expense assumptions
Location
State IL
County Stephenson County
Interior
Hot Water Gas
Heating Hot Water/Steam
Cooling Central Air, Window Unit
Exterior
Exterior Feature Brick/Stone, Concrete
Roof Type Rubber
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
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Brandy Graves
Broker-Associate | Lic# 475175567