1022 15th Street, Rockford, IL 61104
- Added:
- Mar 13, 2026
- Days on Market:
- 95
- Last Refresh:
- Jun 15 at 11:06 am
Property Features for 1022 15th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Basement, Bedroom 2
- Parking
- 2
- Appliances
- Refrigerator, Stove/Cooktop
- Standard status
- Pending
- APN
- 1125412006
- Size
- 2,268 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CHURCHILL PLACE IN E 1/2 SEC 25-44-1 LOT 007 BLOCK 023
- Tax Annual Amount
- 3314
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1923
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
Listing agent Mary Maxted License #475158256 (815) 315-1111
Listing office Keller Williams Realty Signature 4201 Galleria Dr., Loves Park, IL (815) 315-1111
Listing date Mar 13, 2026
Copyright © 2026 NorthWest Illinois Alliance of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Solid brick 2‑unit property built in 1923
- Both units feature the same floor plan: kitchen, open living and dining rooms, two bedrooms, and one bath
- Enclosed porch included with each unit
- Lower unit kitchen updated in 2024
- Tenants have access to a garage stall and the basement
- Central air; forced‑air natural gas heating; one newer furnace and one newer water heater
Overview
The property is located in Rockford, IL. The seller notes that photos were taken prior to the current occupants’ move-in, and the property is being sold “As Is.” A 48-hour show notice is required.
From an income-property standpoint, the two units are set up similarly and support separate tenancies with shared-access amenities. Tenants pay their own electric and gas bills. The one furnace and one water heater are described as newer, and the arrangement is designed to keep day-to-day utility responsibility with the occupants. Buyer should plan for due diligence given the “As Is” sale terms and current tenant occupancy.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.0k | $9.72 |
| − Vacancy | −$838 | −$0.37 |
| EGI | $21.2k | $9.35 |
| − OpEx | −$6.4k | −$2.81 |
| NOI | $14.8k | $6.55 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Rockford
- County
- Winnebago
- State
- Illinois
- Longitude
- -89.065118
- Latitude
- 42.256472
