211 E StephensonFreeport, IL 61032

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.

Property Information

Property type

Residential Income

Sub-type

Multi Family

Style

3+ Story

Year built

1892

Living area

1,680 Sq Ft

Parking spaces

9

Days on market

170

MLS^® Listing#

202602154

Property Features

Appliances

Refrigerator · Gas Water Heater

Cooling

Central Air

Basement

Full

Construction

Brick

Schools

Elementary

Freeport 145

Middle

Freeport 145

High

Freeport 145

District

Freeport 145

Financial Details

Annual taxes

$850Tax year 2024

Parcel number

181431215002