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    500 Economy Ct Freeport, IL 61032

    Sponsored
    For Sale
    $2,900,000

    Prime Freeport location, large office space, ample parking.

    Property size:
    181,657 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional commercial office building presents a unique investment opportunity in Freeport, Illinois. Boasting a substantial 181,657 square feet of space, this property is ideally situated just minutes from US Bus 20 and approximately 5 minutes from US Hwy-20, ensuring excellent accessibility. The building, formerly a call center, is configured across four wings, each with its own distinct construction history. The east wing, a two-story structure, was built in 1952 with an addition in 1957. The west wing, also two stories, dates back to 1952. The north wing (three stories) was added in 1977, and the south wing (three stories) was constructed in 1988. The north wing's roof was replaced in 2020

    Property Features for 500 Economy Ct

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    181,657 SF
    Lot Size
    442,134 SF

    Building Details

    Year Built
    1952
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Properties & Spaces

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Stephenson
    State
    Illinois
    Longitude
    -89.627
    Latitude
    42.29557

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Freeport location, large office space, ample parking.
    Where is this office property / space located?
    The property is located at 500 Economy Ct Freeport, IL.
    What is the asking price?
    The asking price for this property is $2,900,000.
    (815) 285-3444
    Request Owner's contact information
    500 Economy Ct Freeport, IL 61032
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    Freeport, IL 61032
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    Realmo Value Estimation

    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.

    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.

    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
    500 Economy Ct Freeport, IL 61032
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