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    222 North Water St Rockford, IL 61107

    For Sale
    $1,675,000

    48,600 SF building with waterfront access and redevelopment potential.

    Property size:
    48,600 SF
    Lot size:
    1.27 Acres

    Property Features for 222 North Water St

    General Information

    Size
    48,600 SF
    Lot size
    1.27 Acres

    Source: GAMBINO REALTORS-Rkfd Agent Tina Tendall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Building Ready for Development

    This 48,600 sq ft building presents a development opportunity in a downtown waterfront location with 132ft of shoreline on the Rock River. The current owner envisioned 21 apartments on the top three floors, commercial use on the main floor, and a dockside restaurant and bar on the river level. The interior demolition is 90% complete. A new R30 TPO roof was installed in 2024, and electric updates, brick tuckpointing and sealing, parking lot resurfacing, and new LED lights are planned for 2025. Asbestos has been removed. There is parking available, and a new retaining wall has been built. The property is located within the Rockford River Edge Redevelopment Zone, and the City will assist the developer in establishing eligibility for financial incentives through the River Edge Redevelopment Program administered by the State of Illinois. National Park Service Historic Part 1 approval has been granted for historic tax credit eligibility. This is the former Rever's Marina.
    Insight Report Location Intelligence

    Current Use by Public Records

    Marinas

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.090023
    Latitude
    42.2711642

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    FAQs

    What type of property is this?
    Marina - 48,600 SF building with waterfront access and redevelopment potential.
    Where is this marina located?
    The property is located at 222 North Water St Rockford, IL.
    What is the asking price?
    The asking price for this property is $1,675,000.
    What are key features of this property?
    This property features: - Prime downtown waterfront location with **132ft of shoreline on the Rock River.**; - Significant recent updates including **new R30 TPO roof (2024), updated electric (2025), tuckpointed and sealed brick (2025), asbestos removal (2025), resurfaced parking lot (2025), new LED lights (2025), and new retaining wall.**; - Approved for National Park Service Historic Part 1 historic tax credit.
    (815) 904-3800
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    222 North Water St Rockford, IL 61107
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    222 North Water St
    Rockford, IL 61107
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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
    222 North Water St Rockford, IL 61107
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