Two-Story Multi-Tenant Office
115 7th Street Rockford, IL 61104
For Sale
Contact for pricing
Masonry, renovated office building with frontage on two streets and off-street parking in an urban mixed-use district.
Property Size17,772 SF
Price / SF$258.27
Days on Market60
Property Features for 115 7th Street
General Information
- Standard status
- Active
- Size
- 17,772 SF
- Property subtype
- Multifamily, Office, Retail
Building Details
- Year Built
- 1927
Listing Agency:
Qazzafi Butt
Listed By:
Q Butts · License #FLBO
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 24 at 4:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Qazzafi Butt
Investment Insights
Based on property information with market context.
The property is a two-story, 17,772-square-foot, masonry, multi-tenant office building built in 1927 and renovated in 2014. Designed for multiple tenants, the building provides a practical office setup within a historically built exterior and updated improvements.
Located in Rockford’s Midtown District, the building sits between two corners with frontage to both Charles and 7th Streets. The listing notes rare off-street parking, which can be a meaningful operational benefit for office users and visitors. The property is zoned C 4 “Pedestrian Street” Urban Mixed Use and is also located within a TIF district.
With its office-focused configuration and double-street frontage, the building may fit a range of office tenants or an ownership group seeking a multi-tenant platform in Midtown. The surrounding district includes a mix of historical buildings and major community stakeholders, including Swedish American Hospital and prominent financial institutions, along with Rockford Public Schools District 205 headquarters.
Located in Rockford’s Midtown District, the building sits between two corners with frontage to both Charles and 7th Streets. The listing notes rare off-street parking, which can be a meaningful operational benefit for office users and visitors. The property is zoned C 4 “Pedestrian Street” Urban Mixed Use and is also located within a TIF district.
With its office-focused configuration and double-street frontage, the building may fit a range of office tenants or an ownership group seeking a multi-tenant platform in Midtown. The surrounding district includes a mix of historical buildings and major community stakeholders, including Swedish American Hospital and prominent financial institutions, along with Rockford Public Schools District 205 headquarters.
Key Highlights
- 17,772 SF two‑story masonry, multi‑tenant office building built in 1927
- Renovated in 2014
- Frontage on Charles St and 7th St with access between two corners
Financial Insights For Office B
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 | $373.2k | $21.00 |
| − Vacancy | −$51.5k | −$2.90 |
| EGI | $321.7k | $18.10 |
| − OpEx | −$80.4k | −$4.53 |
| NOI | $241.3k | $13.58 |
17,772 SF · lease $21.00/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.45M
$3.02M – $4.02M
NOI $241,282 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.73M
$4.14M – $5.52M
NOI $330,900 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bovada Online Casino
Hotel & Motel
Dr. Emilio Carrillo
Dental Office
Dr. Mohamed Harunani
Dental Office
Dr. Ayesha Zahurullah
Dental Office
Mohamednazir F Harunani
Dental Office
FAQs
What type of property is this?
Office building - Masonry, renovated office building with frontage on two streets and off-street parking in an urban mixed-use district.
Where is this office building located?
The property is located at 115 7th Street Rockford, IL.
What is the asking price?
The asking price for this property is $4,590,000.
What are key features of this property?
This property features: 17,772 SF two‑story masonry, multi‑tenant office building built in 1927; Renovated in 2014; Frontage on Charles St and 7th St with access between two corners
