Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Multi-Story Building Title is generated by Realmo AI

    930 E State Street, Rockford, IL 61104

    View on Map
    Claim this Listing
    For Sale
    $395,000

    Apartment building,Office,Retail,Service - Rockford, IL

    Type:Apartment
    Added:
    Dec 26, 2025
    Days on Market:
    160
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 930 E State Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Zoning
    C4
    Parking features
    Other
    Interior features
    Shared conference room, Inside storage
    Standard status
    Active
    APN
    1126202002 & 1126202006

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    7217

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1920
    Floors in Building
    3
    Number of units
    2
    Building materials
    Block, Brick
    Roof type
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Kenneth Redeker
    Kenneth Redeker

    Listing agent Kenneth Redeker

    Listing office Keller Williams Realty Signature 4201 Galleria Dr, Loves Park, IL

    Listing date Dec 26, 2025

    MLS# 1991957 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 9,000+ sq ft building offers substantial space for various uses.
    • Attached covered parking garage provides a valuable amenity for staff.
    • Versatile three‑story layout with a full basement allows for flexible adaptation.
    • Hardwood floors and high ceilings contribute to the building's unique charm.
    • Potential for diverse uses including office, retail, or residential lofts.
    • Shared conference room and inside storage enhance functionality.

    Overview

    This well maintained multi-story building offers more than one real estate option, with approximately 9,000-plus square feet plus a full basement. The property includes hardwood floors and high ceilings, creating a distinctive interior character. The first level is currently set up as office space. Level two is arranged for meeting space with a serving space and bar. Level three is open, which can support a variety of future layouts depending on tenant or user needs.

    The building also features a special improvement: an attached covered parking garage for staff, a practical convenience for daily operations and visits. The property is located at 930 E State Street in Rockford, Illinois, and is identified under zoning C4.

    With office, meeting, bar/serving components, and an open third level, the space can be repurposed for a range of concepts. It may appeal to buyers looking for a flexible owner-occupant configuration, as well as investors interested in splitting or reconfiguring the interior for standalone office, retail, or service uses. There may also be opportunity to evaluate additional residential uses, depending on approvals and final concept planning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.083374
    Latitude
    42.2668772

    Nearby Similar for Sale

    • $3,200,000

      Rockford Commercial Corner Opportunity

      High-visibility commercial corner lot near interstate and airport.
      3442 Merchandise Drive, Rockford, IL 61109
      View Details
    • $3,200,000

      Rockford Commercial Corner Opportunity

      High-visibility commercial corner lot near interstate and airport.
      3442 Merchandise Drive, Rockford, IL 61109
      View Details
    • $1,415,000
      21,796 SF

      Versatile Commercial Property with Recent Upgrades

      21,796 SF commercial building on 1+ acre for sale.
      727 1st Avenue, Rockford, IL 61104
      View Details
    • $360,000

      Rockford Commercial Property For Sale

      Commercial property with high visibility in a bustling Rockford area.
      721 E State Street, Rockford, IL 61104
      View Details
    • $3,500,000
      59,506 SF

      Multi-Tenant Office Building Investment

      Two-story office building with interstate visibility and income potential.
      527 Colman Center Dr, Rockford, IL 61108
      View Details
    • $240,000
      3,068 SF

      Rockford Duplex in Churchill Grove

      All-brick duplex in historic Churchill Grove neighborhood with over 3,000sqft.
      1206 Harlem Boulevard, ROCKFORD, IL 61103
      View Details
    • $725,000

      Equestrian Dream Property in Rockford

      Turnkey horse property with arena, barn, and modern amenities.
      5382 GUILFORD Road, ROCKFORD, IL 61107
      View Details
    • $345,000
      3,567 SF

      Fully Rented Multifamily Property

      All brick 4-unit property with strong rental history in Rockford.
      1819 Logan Street, ROCKFORD, IL 61103
      View Details
    • $129,900
      2,561 SF

      Mixed-Use Property in Rockford, IL

      Versatile mixed-use property with business and residential units.
      1539 Clifton Avenue, ROCKFORD, IL 61102
      View Details
    • $165,000
      2,034 SF

      Fully Rented Multifamily Property

      Two-unit multifamily property in Rockford, Illinois, generating immediate income.
      1631 8th Avenue, ROCKFORD, IL 61104
      View Details
    • $284,999
      2,664 SF

      Remodeled Duplex: Turn-Key Investment

      Completely remodeled duplex in 2022, great investment opportunity.
      4733 Javelin Drive, ROCKFORD, IL 61108
      View Details
    • $395,000
      4,200 SF

      Downtown Rockford Mixed-Use Investment

      Mixed-use building with commercial tenant and residential upside.
      308-310 E State Street, ROCKFORD, IL 61104
      View Details

    FAQs

    What type of property is this?
    Office building - Three-story building with basement and attached covered staff parking, offering flexible office, meeting, and retail/service space.
    Where is this office building located?
    The property is located at 930 E State Street Rockford, IL.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Large 9,000+ sq ft building offers substantial space for various uses.; Attached covered parking garage provides a valuable amenity for staff.; Versatile three‑story layout with a full basement allows for flexible adaptation.
    (815) 315-1111
    We can help!
    Listing Contact
    Kenneth Redeker
    Kenneth Redeker
    Real Estate License ID: 4945290
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    930 E State Street, Rockford, IL 61104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!